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1st Mariner lines of credit have a variable rate of interest that may fluctuate no more than once a month based upon the prime rate index set by the Wall Street Journal. You can estimate the available equity in your home by accessing our Loan to Value Calculator. |
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It depends on different conditions. The repayment period on a Home Equity Loan ranges from 60 months to 180 months depending upon the amount borrowed.
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I've had previous credit problems. Can I still get credit?
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Can I get a loan if I've filed for Bankruptcy?
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After the draw period there is a repayment period of 100 months where interest and 1% of principal balance are due each month until the loan is paid in full. |
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Many people secure a Home Equity Line of Credit as a buffer in case they should ever need supplemental funds. There are no restrictions on how you choose to use your loan proceeds. |
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Are there any auto requirements or limitations? |
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It depends on different conditions, but generally, the answer is No, 1st Mariner Bank does not impose fees on Home Equity Lines.
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Do I have to use the full loan amount? |
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As long as you keep your loan or line open for 3 years, you will not be responsible for these costs. |
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