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 If you would like to print this page, select "Print" under your browser’s "File" menu. What You Should Know About a Discover® Home Equity Line of Credit This offer is non-transferable and available to homeowners who are 18 years of age or older. Valid for owner-occupied, single-family residences, townhouses, condominiums and for home equity lines from $25,000 to $250,000 with a 80% or less loan-to-value ratio and with available equity up to 80%. Credit lines less than $25,000 and $250,001 or greater and/or credit lines with a loan-to-value greater than 80% are available at different terms. Please contact a loan consultant for details. Not available on co-ops and mobile homes. If approved, you will receive our no closing cost rate ranging from Prime - .50% (currently 7.75% APR) to Prime + 1.00% (currently 9.25% APR), depending on your financial information and creditworthiness. A closing cost option is available with rates as low as Prime - .75% (currently 7.50% APR) to Prime + .75% (currently 9.25% APR). Closing costs could range from $175 to $1,500, depending on the loan amount. The APR will vary as the Prime Rate varies. The Prime Rate is published in the Money Rates section of The Wall Street Journal and was 8.25% on 8/31/06. Maximum rate is 18%. All loans are subject to satisfactory appraisal, title and property insurance. A Real Estate appraisal fee will be charged to loans originated in the states of Alaska and Hawaii. Some states have state, county and municipal mortgage-related taxes for which the borrower is responsible. $50 annual fee is waived the first year. If an account is cancelled within 3 years, an early termination fee of $350 will apply (not applicable in TX). Lines of credit have a 10-year term and you must pay any remaining balance in a single balloon payment. Home Equity Lines of credit not available in DC. Offer may change without notice. Special rules apply for Texas Home Equity Lines of Credit: The minimum loan amount is $25,000 with available equity up to 80% Closing costs range from $200 to $2,000 depending on the loan amount. The annual fee and early termination fee does not apply. In Texas, there is a minimum of $4,000 for each draw and an additional 15-year amortization period of monthly principal and interest payments which replaces the balloon payment. The no closing cost program is not available in Texas. What You Should Know About a Discover Home Equity Installment Loan This offer is non-transferable and available to homeowners who are 18 years of age or older. Valid for owner-occupied, single-family residences, townhouses, condominiums and for home equity loans from $25,000 to $250,000 with an 80% or less loan-to-value ratio. Loans less than $25,000 and $250,001 or greater and/or with a loan-to-value greater than 80% are available at different terms. Please contact a loan consultant for details. Not available on co-ops and mobile homes. The APR is fixed for the term of the loan and will not vary. As of 8/31/06, interest rates on our no closing cost option ranged from 8.00% APR to 9.50% APR. The monthly payment on $25,000 borrowed for 180 months (15-years) at a range 8.00% APR to 9.50% APR will range from $238.91 to $261.06. A closing cost option is available with rates ranging from 7.75%APR to 9.25% APR with monthly payments ranging from $235.32 to $257.30. Closing costs could range from $175 to $1,500, depending on the loan amount. Your actual APR will be based on a review of your financial information and creditworthiness. All loans are subject to satisfactory appraisal, title and property insurance. A Real Estate appraisal fee will be charged to loans originated in the states of Alaska and Hawaii. Some states have state, county and municipal mortgage-related taxes for which the borrower is responsible. 20-year home equity loans are available at different terms. Please contact a loan consultant for details. If an account is closed within 3 years, a prepayment penalty of $350 will apply (not applicable in NM). Home Equity Loans not available in DC. Offer may change without notice. Special rules apply for Texas Home Equity Installment Loans: In Texas the minimum loan amount is $25,000 and closing costs range from $200 to $2,000 depending on the loan amount. The prepayment penalty does not apply. The no closing cost program is not available in Texas. Discover Home Loans are made by Discover Bank, member FDIC Please use your browser's "Back" button to return to the previous page. |
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Discover Home Loans are made by Discover Bank, Member FDIC 
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