Home Equity Solutions

¹Desert Community Bank home equity line of credit (HELOC) is a variable rate, revolving line of credit secured by residential property only: 1-4 unit owner-occupied, modular homes, and owner-occupied secondary homes. Annual percentage rate (APR) is based on the WSJ (Wall Street Journal) prime rate (index) as of October 31, 2019, plus a margin for line amounts of $10,000 - $1,000,000, and with a combined loan-to-value (CLTV) of 80% or lower. Effective November 1, 2019, a 3.49% APR Promotional rate is available for 6 billing cycles after which the current variable APR will range from 4.99% APR - 21.00% APR, and will not exceed 21.00% APR. APR following the 6 month Promo APR reflects a 1.00% interest rate discount available for HELOCs with 1) an initial draw of at least $25,000 at closing, and 2) monthly automatic payment (ACH) established and elected at the time of application to be paid from a borrower’s Desert Community Bank Deposit Account. Promotional rate is not available for purchase transactions or for refinance transactions during the 36-month recapture period. Discounts are not available during the promotional period but will apply at the maturity of the Promotional Rate. Actual APR will be based on the variable rate index value in effect at the time of account opening, plus a margin determined by borrower credit qualifications, amount of the line of credit, lien position, combined loan-to-value (CLTV), type of property and other factors. APR remains variable for the life of the loan. Annual fee is $75 per year; waived the first year. The Line must remain open for at least 36 months to avoid payment of closing fees, including but not limited to, title, appraisal, notary and recording fees. Loan amounts greater than $500,000 require borrower-paid Lender's Title Insurance. Borrower is responsible for paying required government taxes and fees at closing. During the 10 year draw period, (a) for the Interest-Only payment terms, your minimum payment for each billing cycle will equal the greater of $100 or the Finance Charges that have accrued for that Billing Cycle or for (b) the Principal and Interest payment terms, 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. 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. 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. You must have verifiable income. Offer may be withdrawn without notice. Rates apply to new HELOC accounts and may not apply to existing HELOC accounts. Offer not valid in TX. 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. Some restrictions may apply.

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

²HELOANs allow customers the power to pay for large expenses by taking a lump sum of money now, and paying over time with a fixed-interest rate. In addition, it protects customers against payment hikes due to interest rate changes because the payment will remain fixed over the life of the loan. Desert Community Bank Home Equity Loan (HELOAN) is a fixed-rate and term loan for loan amounts of $10,000 - $1,000,000 with amortization options of 5, 10, 15 and 20 years and a combined loan-to-value of 80% or lower. Secured by primary residence or owner-occupied second home. Actual annual percentage rate (APR) may vary for loan purchases and loan refinances due to loan programs being offered, lien position, credit history, rates in effect at the time of consummation, loan-to-value (LTV), amortization terms, and other factors. Interest rate discount of .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. Loan amounts greater than $500,000 will require borrower-paid lender’s title 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. 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 TX. 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. Some restrictions may apply.

Rate of 6.43% APR effective as of 9/23/2019. The annual percentage rate (APR) calculation is based on a $65,000 loan amount, 15-year term loan in second lien position, with an 80% or lower loan-to-value (LTV), minimum credit score of 720, and 180 monthly payments of $562.30, and reflects a .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.

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

Fair Lending Statement