HOME FINANCING SOLUTION THAT REDEFINES FLEXIBILITY

 

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THE PREFERRED EQUITY LINE is our innovative mortgage solution that provides home-buyers an enticing alternative to traditional financing. Geared to clients who are looking for payment flexibility, it offers payment benefits and cash flow convenience not found with a 30-year fixed mortgage.

PROVIDING A DECADE OF FINANCIAL FLEXIBILITY

• Pay only interest during the initial 10-year term

• Fix the rate on initial draw for 5, 7 or 10 years

• Pay a variable rate over the final 20 years on the fully amortized loan

Our line of credit offers variable Annual Percentage Rates (APR) of 3.000% to 5.375% as of 6/12/14. Not all clients will qualify for the lowest rate. Rates may increase to a maximum of 15%. Fixed APRs on initial draws range from 2.500% to 5.375% as of 6/12/14. After the fixed period ends, the variable APR will apply.

MORE KEY PRODUCT DETAILS

• Reduce future payments by paying down principal at anytime

• Total line amounts from $250K to $2M

• Available as a first lien on primary, secondary and investment properties, as well as condos and co-ops

• Convenient check access to available credit

• Monthly payments could increase due to things like taxes, insurance or taking additional advances

• Other fees could apply. See disclosure 2 below for important information.

 

Compliments of:

Stephen Albeck

Everbank
Mortgage Loan Officer
NMLS ID: 659357
703-625-1254

Contact Stephen for current rates.

* All terms subject to credit and property approval. Product may change without notice.

1. Available only in FL, CA, NJ, VA, NY, CO.

2. Our line of credit has estimated origination and closing fees ranging from $6,460 to $9,785, though your actual costs may be higher. After the first year there is a $50 annual fee. Discount points may be up to 6% of the loan amount. This estimate does not include hazard or flood insurance that you must carry on the property.

 

EverBank Marketing Communications
501 Riverside Avenue, Jacksonville, FL 32202
EverBank NMLS ID: 399805
© 2014 EverBank. All Rights Reserved. 14ERM0125.04

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