with our Home Equity Credit Line with a Fixed Rate Option!
Everybody likes options – we do! That's why we developed a Fixed Rate Option with our Home Equity Line of Credit. This program offers the flexibility of having an open credit line while locking your balance into a fixed rate. Plus, we will give you a closing cost credit of up to $1,500***!
Act fast! These offers are only available for a limited time!
![Nymeo Visa Platinum Credit Card](/files/nymeo/1/image/blog-images/tutorial-tuesday-1-4-22-3.jpg)
Option 1 - Introductory Offer for New Home Equity Lines
Introductory APR on Initial Draw*
As low as 4.75% introductory APR for the first 12 months on an initial draw of at least $20,000, and then a fixed APR as low as 8.50% after the introductory period and for the remainder of the balance.
Variable Rate
As low as 8.50% APR on all draws made after the initial draw.
*For newly originated home equity lines of credit, members can elect to lock their balance at an introductory APR as low as 4.75% fixed for 12 months, conditioned on taking an initial draw of at least $20,000 at the time of loan closing. To elect the introductory APR, additional disclosures will be required after the loan is funded and the recission period ends. Balances remaining from the initial draw will be changed to a fixed rate APR as low as 8.75% after the introductory period. Payments on the draw amount will be calculated based on a 15-year amortization. Any draws advanced after the initial draw will be charged a variable APR as low as 8.75%. Not all will qualify. Rates are determined by credit history and loan to value ratio. Rates are subject to change at any time. Rate based on your creditworthiness at time of account opening. This APR will vary with the market based on the Prime Rate. APR = Annual Percentage Rate.
![Nymeo Visa Platinum Credit Card](/files/nymeo/1/image/blog-images/tutorial-tuesday-1-4-22-3.jpg)
Option 2 - Promotional Offer for New Home Equity Lines
Fixed APR on Initial Draw**
As low as 6.75% APR on an initial draw of at least $20,000.As low as 6.75% APR on an initial draw of at least $20,000. an initial of at least $20,000.As low as 6.75% APR on an initial draw
Variable Rate
As low as 8.50% APR on all draws after the initial draw. As
ow as 8.75% APR on all draws after the initial draw.
**For newly originated home equity lines of credit, members can elect to lock their balance at a promotional APR as low as 6.75%, conditioned on taking an initial draw of at least $20,000 at the time of the loan closing. To elect the introductory APR, additional disclosures will be required after the loan is funded and the recission period ends. Payments on the draw amount will be calculated based on a 15-year amortization. Not all will qualify. Rates are determined by loan to value ratio. Rates are subject to change at any time. Any draw advanced after the initial draw will be charged a variable APR as deemed by the loan agreement. Rate based on your creditworthiness at time of account opening. This APR will vary with the market based on the Prime Rate. APR = Annual Percentage Rate.
If you are concerned about a changing rate environment, want fixed monthly payments, and desire a strategy to help repay your balance over a set timeline, this product is right for you!
The HELOC Fixed Rate Option offers many benefits:
![access-funds](https://www.nymeo.org/files/nymeo/1/image/Icons/wallet-with-shadow.png)
Convenient access to funds to accomplish your projects.
![Fixed Rate](https://www.nymeo.org/files/nymeo/1/banners/icon_-_Online_and_Mobile_Banking_Bill_Pay_377.png)
Create stabiity in your budget with a fixed rate and payment.
![Line of Credit](https://www.nymeo.org/files/nymeo/1/banners/icon_-_Online_and_Mobile_Banking_Transfer_Now_381.png)
Pay down the principal balance of the loan, the funds become available again to borrow in your line of credit!