|Most banks complicate the home equity loan process with countless fees and pages of fine print. Quorum keeps it simple by offering no fees and a low minimum line, along with a highly competitive rate. That's why we're your safest bet when you're looking to unlock the money in your home with a home equity loan.
| This number represents the total of all outstanding mortgages divided by the current appraised value.
Your rate is variable based on the Prime rate (as published in The Wall Street Journal) plus a margin. Your margin is based on credit score and CLTV ratio. The rates noted in the chart apply to members with a credit score ≥ 720.
|* The Annual Percentage Rate (APR) is currently Quorum's floor rate of 3.95% as of 6/16/11. When the Prime rate (as published in The Wall Street Journal) is 4.05% or higher, your rate may be as low as Prime minus 0.10% for life of the line, as long as you maintain electronic statements. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the prime rate (index - as published in The Wall Street Journal) plus a margin. The margin is determined based on credit history and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member's home, and is available only for 1 to 4 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $10,000. No draw required at closing. No application, closing, annual or termination fees; appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states; for members who bring loans from another financial institution Quorum will pay 1% of the applicable mortgage tax. Loans subject to credit approval. 100% LTV not available in all states and based on credit rating. RealtyLine not available in TX.|