Home Equity Loan
In Home Equity Loan there are specific criteria’s, which are laid down that must be followed before any individual wants to apply for home equity loan. Home equity loans are provided to those individuals, who are already having a HSBC premier account with $100,000 maintenance. This criterion is in need prior to taking loan and after the closing, so that the banks can deduct certain amounts from the account.
Business owners like real estate workers & others can use their commercial balance for opening a HSBC premier account with the Home Equity Loan personal deposits and investments and maintain the balance of $ 100, 000 or more. Besides this, there is a time period of 90 days which is offered by the banks, after opening the account to meet the requirements of the balance amount of $100,000.
Once the personal premier relationship is established successfully, the account holder’s shall be liable to pay a certain monthly maintenance fee of $50.
Other features of home equity loans & HSBC premier account requisites are as follows –
• For a home equity loan line of choice for $ 50,000 or more a variable rate with total loan value of up to 80% and an additional +1.99 APR.
• Customer’s willing to know further details about the rates can contact for current rates with different terms, as the rates vary for different total value, line amounts, current rates etc.
• Maximum APR is 15.0 % or 5% points over the initial rates including the closing rates.
• The APR changes daily and the rates may vary as per the publishing in the journal.
• The prime home equity loan rates are 3.25 % as per the latest 2016 updates inHome Equity Loan .