Pay as low as $99 in closing costs when you qualify for an OMNI BANK Home Equity Line of Credit.
Variable Rate Line of Credit on a 1st or 2nd Mortgage. Wall Street Journal Prime 1.0%.
You can unlock the money tied up at home and get the cash you need for things such as:
- Vacation
- Debt Consolidation
- Tuition
- Home Improvements
Terms & Conditions
HELOC subject to minimum rate of 4.5% and maximum of 18%. Wall Street Journal Prime is 3.25% as of May 1, 2009. *$99 Closing Cost offer requires minimum credit score of 700; Closing Costs may be as much as $499 for lower credit scores. Closing cost does not include $325 Documentary Tax for properties in Orleans Parish. All applicants will be required to complete an OMNI BANK consumer loan application form. The offer is subject to verification of credit score; proof of income to include most recent W-2 and most recent paystub, or if self employed, most recent two years of tax returns; validation of property valuation; lien position; combined loan-to-value; and overall debt. Applicants are required to have an OMNI checking account. Maximum line of credit is $150,000. Minimum line of credit is $10,000. APR is Annual Percentage Rate. $35 Annual Fee. A HELOC is secured by a lien on your home. Property insurance is required, and flood insurance may be required depending on the location of the property. The amount of a HELOC is based on a specified loan-to-value (LTV), which takes into account the current market value of the property and the amount of any current mortgage liens on the property. Other restrictions may apply. Please consult your tax advisor and IRS publication 936 (Home Mortgage Interest Deduction) regarding interest deductibility. APR may vary. Rates and terms are subject to change without notice. Please contact OMNI BANK for current rates and terms.
Click here for important information regarding rates, fees, and other cost information.
