Written estimate must clearly identify products being installed and indicate ENERGY STAR certification (except solar). ( View complete list.) The written estimate must be dated no earlier than 60 days prior to account opening and not expire until at least 5 days after account opening. Applicants must provide-no less than 10 days prior to account opening-a written estimate satisfactory to Bank of the West from a licensed contractor for the purchase and installation of an eligible energy efficiency product. Applicants must finance at least $5,000 for new solar energy equipment or energy efficient products in order to qualify for the discount. Discount is 0.125% off standard rate sheet pricing for the draw period.
↩ħThe HELOC Energy Efficiency Discount is subject to change at any time.
Balances owed or available on lending or credit products and any account or asset where inclusion for relationship pricing eligibility might breach the owner's fiduciary duty or breach any law or regulation applicable to the owner or Bank of the West or its affiliates are also ineligible (contact us for more details). Discounts are not available for deposits or other AUM held in insurance accounts, the name of a business, or the name of the trustee of an irrevocable trust. Additional benefits may be available for eligible customers of Bank of the West and its affiliates (ask us for details.) ↩ĦRelationship Pricing Discounts may be available for eligible Bank of the West deposit customers, Bank of the West Global Investment Fiduciary Solutions investment clients, and investment customers of BancWest Investment Services with at least $100,000 in assets under management (AUM). All terms and conditions applicable to the checking or savings account apply, including fees, and minimum opening deposits. The discount may be reversed and your rate and payment may increase if automatic payments are discontinued for any reason. ↩ĥAutomatic payment discount of 0.125% off the standard rate requires applicants to establish automatic monthly payments from a new or existing Bank of the West checking or savings account. ↩ĤCombined total discounts may not exceed 1.25% for the draw period or lower the rate less than the floor of 3.00%. Ask a mortgage banker (or approved title) for more information. ↩ģCombine a Bank of the West first mortgage with a loan-to-value (LTV) up to 80% and a HELOC in second position up to 9.90% LTV for a maximum combined LTV of 89.9%. Read more about our restrictive fossil fuel policies here. APR will depend on factors including property value, location, and occupancy status, creditworthiness, existing debt against the property, approved line of credit amount, and your account relationships with Bank of the West.ĢMajor US bank defined as US banks with excess of $90B in assets. As of July 28, 2022, margins range from -0.860% to 5.325% with corresponding APRs ranging from 4.640% to 10.825% for lines of credit between $15,000 and $2,000,000 and are subject to change at any time.
#LINE OF CREDIT PLUS#
The APR for a HELOC during the draw period is variable based on the Prime Rate as published in The Wall Street Journal, plus a margin. The APR will not exceed 18.00% (13.00% APR in Oklahoma) and will not go below 3.00% regardless of your qualifying margin or applicable discounts. APR during the repayment period will be fixed, based on the Prime Rate in effect at the end of the draw period, plus a margin and other factors. The draw period is followed by a fixed-rate fully-amortizing repayment period of 120, 180, or 240 months, depending on the balance at the end of the draw period. Annual Percentage Rate (APR) during the draw period may change as often as monthly. Ask a Bank of the West representative for details.ġAll HELOCs feature a 10-year variable rate draw period requiring a monthly interest-only payment subject to a $100 minimum. Fees: an annual fee up to $75 applies subject to state law limitations a fee of $100 may apply each time a Fixed Rate Loan Option is elected or reversed. Evidence of adequate property insurance required. Rate and offer subject to change without notice. Product details can be found in our Important Terms Brochure ask for a copy. Fees, conditions, and restrictions apply. Terms and Fees: Home Equity Lines of Credit (HELOCs) are subject to credit qualification and collateral valuation.
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