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, specifically, 1-4 unit owner-occupied homes, modular homes, and owner-occupied secondary homes. The annual percentage rate (APR) is based on the Wall Street Journal prime rate (index) as of March 17, 2020, plus a margin for HELOC amounts between $10,000 and $1 million with a combined loan-to-value (CLTV) ratio of 80% or lower. Effective March 18, 2020, the current variable APR will range from 4.99% to 21.00%. It will not exceed 21.00% APR. APR reflects a 0.50% 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 will be based on the variable rate index value in effect at the time of account opening, 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. APR remains variable for the life of the loan. 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, 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, for the (a) interest-only payment terms, the 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 the (b) principal and interest payment terms, the 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. If the repayment period extends to 20 years, the 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 may be withdrawn without notice. Rates apply to new HELOC accounts and may not apply to existing HELOC accounts. Offer not valid in TX. For qualified borrowers. Subject to credit approval, underwriting approval, and lender terms and conditions. Programs subject to change without notice. Some restrictions may apply. Not a commitment to lend. HELOCs are only offered through a Retail Banking Branch or in conjunction with a 1st Mortgage purchase or Refinance transaction.

²Desert Community Bank Home Equity Loan (HELOAN) is a fixed-rate and term loan for loan amounts of $10,000 - $1 million with amortization options of 5, 10, 15, and 20 years. 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, borrower credit history, rates in effect at the time of consummation, combined loan to value (CLTV), amortization terms, and other factors. 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. 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. HELOANs are only offered through a Retail Banking Branch.

Rate of 5.98% / 6.02% APR effective as of March 16, 2020. 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 combined loan to value (CLTV), and 180 monthly payments of $547.80, 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.

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