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1 Subject to credit approval. Property insurance required for all loans secured by property. Rates are subject to change daily. Contact your First Midwest Banker for current rates. The Home Equity Line of Credit has a draw period of 10 years, after which any outstanding balance will be automatically converted to a 20-year fully amortized repayment period. NMLS #459308. 2 If an initial draw of $25,000 to $49,999 is taken on the date your EquiFlex Home Equity Line of Credit is established, a promotional fixed Annual Percentage Rate of 1.99% APR will apply for the first six (6) months after the date the account is established (the “Promotional Period”). If an initial draw of $50,000 or greater is taken on the date your EquiFlex Home Equity Line of Credit is established, a promotional fixed Annual Percentage Rate of 1.99% APR will apply for the first twelve (12) months after the date account is established (the “Promotional Period”). After the Promotional Period expires, the terms and conditions of the Variable Rate Feature will apply. This means that the monthly minimum payment may increase after the Promotional Period. The 4.25% APR is based on 90% loan-to-value (LTV) for $25,000 approved line at Prime + 1.00% or 4.00%, whichever is higher. APR may vary after the promotional period. APR will change based on Prime plus or minus a margin designated by program and plan selected. The APR is indexed to the Prime Rate as posted in the Wall Street Journal. As of 7/30/21, Prime is 3.25%. LTVs up to 75% are Prime + 0% to Prime + 2.00%. LTVs between 75.01% and 80% are Prime + 0.50% to Prime + 1.25%. LTVs between 80.01% and 85% are Prime + 0.75% to Prime + 1.00%. LTVs between 85.01% and 90% are Prime + 1.00% to Prime +1.25%. The maximum APR is 18.00%. If a credit line is closed within the first 24 months, the fee will be $200 for lines $10,000-$24,999, $350 for lines $25,000-$250,000, and $750 for lines greater than $250,000 (does not apply to Iowa residents). This account has a draw period of 10 years, after which any outstanding balance will be automatically converted to a 20 year fully amortized repayment period at Prime + 2.00%. Offer is available for new EquiFlexSM Home Equity Lines only and to current First Midwest Home Equity clients whose current line is within 12 months or less of maturity. Annual fees of $50 for IL and $15 for IA residents. All loans are offered through First Midwest Bank. The minimum APR is 4.00% after the initial promotion period. APR and margin apply to owner occupied dwellings only. Other rate enhancements do not apply. 3 Loans are subject to credit approval. To qualify, must have an open/funded Checking or Savings Account in good standing. $100 Loan documentation fee applies. 4 Subject to credit approval.
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