What Is A Home Equity Line Of Credit?

Home Equity Loans

Home Equity Line of Credit

Home Equity Line of Credit is a second mortgage on your home where you can use it for any purpose you need.  You can use a Home Equity Line of Credit to do repairs to your home, pay off your high interest credit cards, take a vacation, pay children’s tuition, purchase a second or vacation home, or for investments.

Home Equity Line Of Credit With FirstMerit Bank

Jaime Darwin of First MeritBank offers home equity line of credit mortgage rates as low as 2.99% APR on Home Equity Line of Credit lines amounts of $50,000 or more with a minimum draw of $20,000 at closing with an auto withdrawal paying system from a FirstMerit checking account.

Benefits Of Dealing With Jaime Darwin Of FirstMerit Bank

• Continuous access to available credit on your Home Equity Line of Credit
• No closing costs on your Home Equity Line of Credit
• Flexible payment options on your Home Equity Line of Credit
• Ability to lock in fixed rate options
•  Mortgage interest may be tax deductible

SIMULTANEOUS REFINANCE  MORTGAGE CLOSING – HOME EQUITY LINE OF CREDIT AND/ OR TERM LOAN:

89.9% Loan to Value for refinance mortgage loans on homes appraised at $500,000 and under

85% Loan to Value on a refinance mortgage for homes appraised at $500,001 and $749,000

75% Loan to Value on Refinance Mortgage Loans for homes appraised at $750,000 – $1,499,999

65% Loan to Value on refinance mortgage loans for homes appraised at $1,500,000 – $2,999,999

60% Loan to Value on refinance mortgage loans for homes appraised at $3,000,000 and over

SIMULTANEOUS HOME PURCHASE CLOSINGS – HOME EQUITY LINE OF CREDIT WITH FIRSTMERIT BANK

80% Loan to Value on home purchases on homes appraised at $500,000 and below

75% Loan to Value on home purchases on homes that are appraised at $500,001 TO $1,499,999

65% Loan to Value on home purchases on homes that are appraised at $1,500,000 – $2,999,999

60% Loan to Value on home purchases on home that are appraisaed at for homes $3,000,000 and over

Jamie Darwin–Vice President and  Branch Manager of FirstMerit BankEmail: jaime.darwin@firstmerit

708-636-4100 – Direct: 708-529-2161 – Fax 708-636-4145

Mailing Address : 10240 South Cicero Ave. Oak Lawn, IL 60453 – NMLS # 711617

The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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