Home Equity Solutions

¹The sample annual percentage rate (APR) is based on the Wall Street Journal prime rate (index) as of 1/30/2023, plus a margin. The sample APR reflects a primary residence combined loan-to-value (CLTV) ratio of 80% or lower, and a 0.25% interest rate discount that is available for HELOCs with monthly automatic payments (ACH) established and elected at the time of application to be paid from a borrower’s Desert Community Bank deposit account. Actual APR remains variable for the life of the loan and will be based on the published Wall Street Journal prime rate (index) in effect, plus a margin determined by the borrower's credit qualifications, the amount of the line of credit, lien position, CLTV ratio, type of property, and other factors. Effective 1/30/2023, the current variable APR will range from 7.74% to 21.00%; it will not exceed 21.00% APR. Rates apply to new HELOC accounts and may not apply to existing HELOC accounts.

Desert Community Bank Home Equity Line of Credit (HELOC) is a variable rate, revolving line of credit secured by a primary residence (1- to 4- unit residential homes and modular homes) or secondary residence (1- unit residential homes). HELOC loan amounts can vary between $10,000 and $1 million with a combined loan-to-value (CLTV) ratio of 89.99% or lower. Annual fee is $75 per year and is waived the first year. The HELOC must remain open for at least 36 months to avoid payment of closing fees, including, but not limited to, title, appraisal, document signing fee, and recording fees. Loan amounts greater than $500,000 require borrower-paid Lender's Title Insurance. Borrower is responsible for paying all applicable government taxes and fees at closing as permitted by law. There is a 10-year draw period in which minimum monthly payments are due. If interest-only payments are selected during the 10-year draw period, only paying the minimum payment may not reduce the principal balance. During the 20-year Repayment Period, if any, your minimum payment for each Billing Cycle will equal the greater of $100 or the amount sufficient to repay the Account Balance in full by the Maturity Date in substantially equal payments plus the Finance Charges that accrued for that Billing Cycle and other fees, charges, and costs. The borrower is responsible for separate payments of property taxes and insurance. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. The borrower must have verifiable income. Offer not valid in Texas, Puerto Rico, or the U.S. Virgin Islands. For qualified borrowers. Subject to credit approval, underwriting approval, and lender terms and conditions.

²Desert Community Bank Home Equity Loan (HELOAN) is a fixed-rate and term loan for loan amounts of $10,000 to $1 million with amortization options of 10, 15, and 20 years secured by primary residence; specifically, 1- to 4-unit residential homes and modular homes. The annual percentage rate (APR) of 8.04% APR is effective as of 1/30/2023. The APR calculation is based on a $50,000 loan amount, 20-year term loan in second lien position, with an 80% or lower combined loan-to-value (CLTV), and 240 monthly payments of $418.22, and reflects a 0.25% interest rate discount for monthly automatic payments established and elected at the time of application to be paid from a borrower's Desert Community Bank deposit account. The actual APR may vary due to loan programs being offered, lien position, credit history, rates in effect at the time of application, loan-to-value (LTV), amortization terms, and other factors. The APR is based on loan amount, loan term, interest rate, and includes an estimated 15 days of prepaid interest. The APR may change if the loan amount, interest rate, loan term, or number of days of prepaid interest changes. Interest rate discount of 0.25% is available for HELOANs with monthly automatic payments (ACH) established and elected at the time of application to be paid from a borrower’s Desert Community Bank deposit account. APR is subject to change at any time prior to consummation. No bank-imposed closing costs. Borrower will be responsible for prepaid interest and all state and government specific charges and taxes. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. Borrower will make monthly principal and interest payments. Borrower is responsible for paying separate property taxes and insurance. Rates apply to new HELOAN accounts and may not apply to existing HELOAN accounts. Borrowers must have verifiable income. Offer not valid in Texas, Puerto Rico, or the U.S. Virgin Islands. Not a commitment to lend. Programs available only to qualified borrowers. Subject to credit approval, underwriting approval, and lender terms and conditions. Programs subject to change without notice. HELOANs are only offered through a Retail Banking Branch. Some restrictions may apply.

CONSIDERATIONS: The annual percentage rate (APR), fees and charges may vary by product and property state. Consolidating or refinancing debt may increase the time and/or the finance charges/total loan amount required to repay debt. Please consult your tax advisor regarding the deductibility of interest. Important information will be provided to you in the disclosures you receive after we have received your application and within the loan documents you are provided at loan closing.

Fair Lending Statement