Home Equity Promotion Disclosure

*APR=Annual Percentage Rate. Introductory rate (Intro Rate) is available to eligible members with a minimum FICO of 660 and requires a minimum balance of $10,000. Intro rate is available on one property and does not apply to subsequent credit limit increases, refinances, and previous or existing Southland HELOCs. Not all members will qualify. 2.99% intro rate is good for the first 12 months of the loan and adjusts to the then fully indexed variable rate at the beginning of the thirteenth month. Current HELOC Rate as of 5.29.18 is based on Prime Rate of 4.75% + the margin (0.25 % for up to 70% LTV, 0.50% for 70.1-80% LTV, and 1.00% for 80.1-90% LTV). LTV=Loan to Value, a ratio used to determine the equity available on your home. Other rates may apply based on credit.  Annual cap of 5% over fully indexed rate.  The rate cannot drop below 4% or exceed 15%.  The rate shown assumes that you have a FICO of 700 or above. Investment properties do not qualify for intro rate. Investment HELOC Rate is based on Prime Rate of 4.75% + the margin (1.50% for up to 70% LTV. Other rates may apply based on credit profile. Prime is based on the Wall Street Journal Prime Rate + margin based on credit score. All HELOCs are variable rate loans. Rates can change monthly on the first of the month. Rate cannot change by more than 5% in any one year. 10-year interest only terms followed by a 15-year amortized payback period. Closing costs for the HELOC are currently waived (subject to change). $50 annual fee is waived on HELOCs with a minimum outstanding of $10,000 for 30 days during the year. Credit limit determined by the equity in the real property, which is used as security for the loan. Maximum loan amount is subject to credit qualification and appraised property value. Membership is subject to eligibility. Real Estate Loans are subject to credit approval. Property you own which generates income is not eligible.  All new accounts will be verified through ChexSystems and are subject to credit approval and verification of equity. Rates and terms are subject to change without notice. Early closure cost reimbursement may apply— If the HELOC is paid off and closed during the first 3 years of the loan, you will be charged a $500 early termination fee to reimburse Southland Credit Union all third party fees incurred at closing. NMLS #685526.