|Home Equity Line of Credit Disclosure:
Subject to credit approval. Variable Annual
Percentage Rate (APR) is current as of 12/17/15. Your rate and
corresponding APR may be higher than the advertised rate, depending on
your credit history and FirstMerit's credit policies. Borrower must draw
a minimum amount of $20,000 at time of closing and set up an automatic
payment from a FirstMerit checking account to obtain advertised rate.
The APR is based on Wall Street Journal Prime minus .51% (currently
2.99%) to Prime +6.74% (currently 10.24%). Your APR may vary from a
minimum of 2.99% to 25% in Ohio or Illinois, Michigan and Wisconsin or
22.2% in Pennsylvania, or the maximum allowed by law, whichever is less.
Lines of credit are available only on owner occupied homes with an
89.90% or less loan-to-value ratio. Property insurance is required.
Flood insurance may be required. Loan fees and closing costs, which
could vary up to $760, are waived. There is a $60 annual fee, waived the
first year. There is a $350 termination fee if the home equity line of
credit is closed within three years.