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Introducing First National's "PRIME RATE"
Home Equity Credit Line!
Our "PRIME RATE" Home Equity Credit Line
is an excellent source of cash for:
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- Home Improvements
- Bill Consolidation
- Educational Expenses
- A Dream Vacation
- Purchasing A New Car....
- Practically Anything at All!
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Any time you need an advance on your line, simply use the Credit Line checks provided to you at your account opening. You may write a check for your total credit line available or use just a partial amount. It's up to you. As you repay your credit line, funds will become available for you to borrow again and again.
With First National's "PRIME RATE" Home Equity Credit Line, the interest you pay may be tax deductible** and there are no closing costs or application fees. You may borrow up to 80% of the equity in your home.
Contact Us to receive a "PRIME RATE" Home Equity Credit Line Initial Disclosure or more information.
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*All loans are subject to credit approval. Property insurance is required. Flood insurance may be required. If certain activities occur on your account, we may impose the following fees: Stop Payment request $20.00, NSF handling fee $25.00, Mortgage Satisfaction fee $35.00. The Annual Percentage Rate is a variable rate based on New York Prime Rate as published in the Wall Street Journal minus 0.50%, currently 5.00% as of August 1, 2008, and may vary. The maximum APR will not exceed 19.990%. The APR can change monthly. Payments are based on 0.50% of your outstanding balance plus all accrued finance charges and is billed monthly. You may obtain credit advances for up to 60 months (the draw period). Your "minimum payment" will be the regular payment plus any amount past due and all other charges. The minimum payment will not fully repay the principal amount that is outstanding on your credit line. Your final payment will be a single balloon payment. However, we may offer a "Change In Terms" agreement and extend your credit line for another 60 month draw period. This would not result in a balloon payment requirement. **Consult your tax advisor for interest deductibility.
First National's "PRIME RATE" Home Equity Credit Lines are available to residents of Kent and Sussex County Delaware only!
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