Lock in a promotional fixed rate on a Northwest home equity line of credit draw.

DISCLOSURES:

Subject to credit approval.

Promotional fixed rates available for new and existing Choiceline Home Equity Line of Credit. To be eligible for the promotion you need to take a minimum advance on your new or existing HELOC of $25,000 in new money.

Rates reflected are current as of 3/23/23 and are subject to change without notice. Fixed promotional rate will be determined by amount of newly disbursed funds drawn at closing (existing of any Northwest debt is not included towards newly disbursed funds).  To qualify for the promotional rate, a new draw of at least $25,000 must be taken and a request for lock-in received during the processing of your application. You may have up to 3 fixed rate advances at any time. Existing Northwest balances may be locked in at a promotional rate. The new draw must be taken during the promotional time-frame unless it is on a new application that is still being processed at the end of the promotion. Draw and lock must then be taken at time of closing. Lock-in promotions allow for a payback term of 1-15 years. Any draw request that doesn’t lock-in to a fixed rate advance will be at applicable Variable APR of WSJ prime Rate plus margin. (current rates: Prime +.75 to Prime -.5). Lock-in requests that do not qualify for promotional offering may still lock into standard Fixed APR pricing (current rates: 6.125%-7.75%).  A Title search is required on loans greater than $250,000. Title insurance is required on loans greater than $500,000. Other rates and terms are available. Property insurance is required, and flood insurance may be required.

Existing Northwest HELOCs originated as a promotional product are eligible to lock-in to promotional pricing. Only funds drawn within the prior 30 days of the request being made are eligible to lock-in at promotional pricing. Any balance owed prior to the 30 day window may take advantage of a lock-in request at our standard pricing (cannot combine balance prior to 30 day window with new draw at promotional rate).

*Offer based on an 85% maximum loan-to-value ratio, a minimum 700 FICO® score and requires an automatic transfer service from a Northwest checking account. Rates and payment examples are based on loans secured by properties located in PA, OH and IN only. Rates are 0.25% higher for properties located in the state of NY. Maximum loan amount $750,000. For example, the monthly payment for a $100,000 initial draw, with the intro fixed rate of 6.000% APR with a 180 month term – would be $843.86 a month. Payments do not include amounts for taxes and insurance premiums, actual obligation will be greater. Debt protection is optional. Other rates and terms are available. Must be secured by one- or two-unit owner-occupied primary residence properties only. Not for home purchase. Valuation fee typically ranges from $67 to $650. A $25 annual fee will be charged. If you cancel the line-of-credit before three (3) years, you will be required to reimburse Northwest for all third-party origination fees, less valuation fee. Refinance of existing line of credit will include early termination fees, if applicable. An existing Northwest line of credit does not count toward new borrowing requirement to receive advertised rates.

Consult a tax advisor regarding deductibility of interest and charges. See bank for details. Only deposit products offered by Northwest Bank are Member FDIC.