With a SimpleLOC™ home equity line of credit, you can turn portions of your home equity line of credit into fixed rate loans. For renovations, debt consolidation, tuition, vacation, anything!

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TERMS AND CONDITIONS: This variable rate line of credit must be secured by an owner-occupied residence with a maximum 80% loan-to-value ratio, first or second lien. The rates, fees, and terms of credit stated are based on meeting the bank’s normal credit underwriting standards. Rates, fees, and terms may vary based on your credit qualifications, loan amount, and loan-to-value ratio. Property insurance and flood insurance (if applicable) is required. A National Penn checking account is required. Maximum line is $300,000. This offer and rates are subject to change without prior notice. Please ask about other programs and terms available.

COSTS AND FEES: An early termination fee of $350 will be charged if the line is permanently closed within 36 months of being established. Certain fees may apply if Maryland collateral.

*RATES: The 2.49% annual percentage rate (APR) applies to new lines of credit of $50,000 or more and is good for the first 12 months of the loan. Increases to existing lines require a $50,000 minimum line and a $10,000 increase. The 2.49% promotional rate is not available to National Penn borrowers who have received a discounted line of credit rate within the last 24 months.

**After the expiration of the 12-month introductory 2.49% rate, the APR will be variable based on the Wall Street Journal Prime (WSJP) as published daily plus a margin or minimum APR of 4.00%, whichever is greater. Maximum APR is 18.00%.

FIXED RATE OPTION: This account includes a fixed rate option. Current fixed rate APRs range from 3.74% to 6.24% depending on payment option, loan amount, loan term selected, and market area. This rate may vary, but once established as a new Fixed Rate Advance, will not vary thereafter. A $75.00 rate lock fee applies each time you establish a Fixed Rate Advance. The fee is waived if rate is locked at closing. You are limited to a maximum of 3 Fixed Rate Advances at any one time, with a minimum advance of $5,000.

MATURITY DATE & MINIMUM PAYMENT INFORMATION: This line of credit has a 15 year draw period, and 15 years repayment period, full payout. Please refer to our credit agreement for complete details.

TAX DEDUCTIBILITY: Consult a tax advisor for deductibility of interest.

 

Equal Housing Lender

Member FDIC

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or contact our Information Center at 1.800.822.3321, 7 days a week!