gmhTODAY 30 gmhTODAY April June 2020s | Page 93

SUCCULENTS PLANTS POTTERY FOUNTAINS SOD GARDEN GIFTS & HOME DECOR FURNITURE STATUARY Everything for your Garden and More! 11155 Lena Avenue • Gilroy, CA 95020 • Highway 101 & Masten Avenue 408.846.4555 • garden-accents.net Home Equity Line of Credit Bring your projects to life Even Faster! We will fund your Home Equity Line of Credit up to $100,000 in 7 business days or less! That is our commitment to you or we will credit you up to $500.* Introductory rate 1.99% APR 1 Fixed for 12 months As low as 4.25% APR 1 Thereafter *The Commitment To Fund Within 7 Business Days for lines up to $100,000 is subject to verification of the submitted application, supporting documents, and property eligibility. Fraudulent or purposely misleading information provided by the applicant(s) will invalidate the Commitment. The 7 Business Days to Fund begins when CommonWealth receives a completed application and if applicable a first mortgage note, current mortgage statement, homeowners insurance declaration page, HOA insurance declaration page, property tax bill, and two recent paystubs. If self-employed, two current years of tax returns and a current Profit & Loss Statement. If you claim rental income and would like it to be considered, please provide two current years of tax returns with all schedules. The Commitment To Fund Within 7 Business Days does not apply if delays occur by third parties, applicant(s), and other lending institutions if paying off another lien. Applicant(s) must meet with credit union within 24 hours of being notified that documents are ready to sign. If the loan fails to close on time due to a delay by CommonWealth, we will credit back any fees up to $500 at the time of funding. 1 APR = Annual Percentage Rate. The rate you receive will be based on certain creditworthiness. Please ask us for the rate for which you qualify. All rates are subject to approximate loan term limits and certain restrictions may apply. Rates are subject to change without notice. There are minimum loan amounts required for some loan terms. Contact us for minimum loan amounts by term, maximum loan amounts and loan-to-value requirements. Additional conditions apply. The initial rate for a Intro Rate Home Equity Line of Credit is a fixed rate not based on the index and margin used for subsequent rate adjustments. The initial rate of 1.99% is fixed for the first 12 months. After 12 months the APR can vary and is based on Prime Rate plus a margin of 0.00% to 5.00% based on credit rating. The APR is subject to change on the 10th of each month, based on changes to Prime Rate, the highest Prime Rate published in the Wall Street Journal "Money Rates" table on the 20th of the prior month. Minimum APR 4.00%, maximum APR 18%. Intro Rate Home Equity Line of Credit up to 80% CLTV with loan amounts of $10,000 - $500,000. During the draw period, you may withdraw (advance) funds up to your credit line limit and pay interest accrued on that balance monthly. After the draw period, you may not withdraw any more funds from the line. Your loan is then amortized and you begin to pay the principal and interest monthly. Offer not applicable on refinance of existing CommonWealth HELOCs There are no loan processing or early closure fees and no prepayment penalty. Borrower is responsible for closing costs ranging from $450 to $1,500 including appraisal and escrow. Consult a tax advisor regarding the deductibility of interest. Call (800) 564-1588 for additional information. Real Estate loans are available for owner-occupied properties in the state of California only. GILROY • MORGAN HILL • SAN MARTIN SPRING 2020 gmhtoday.com 93