Home Equity Rate Table
Rates effective as of 09/08/10 and are subject to change.
Flex Home Equity Lines of Credit
| Line | APR | Minimum Line/Maximum Line | Product Features |
| Prime Rate | 1.99% Introductory APR through 01/31/2011 | $15,000 / $500,000 | No advance draw required. Fixed Conversion features. 10 year draw period. |
| Prime Less 1.00% | 2.25% | $25,000 / $500,000 | Advance draw required of at least $25,000. Fixed Conversion features. 10 year draw period. |
Annual Percentage Rate (APR) is set monthly based on the Prime Rate published in the Wall Street Journal on the last business day of the previous month. Prime Rate as of 08/31/2010 is 3.25%. Maximum APR is 18.00%. Minimum APR is 3.25% for Prime Rate and 2.25% for Prime Less 1.00%. $500 penalty for early termination within the first 36 months. Draw period of 10 years followed by 179 month repayment period. See requirements stated below and disclosure for additional terms and conditions. For Prime Less 1.00% required advance must be to a third party. Refinance of Metro lines may be subject to closing fees.
Fixed Home Equity Loan Rates
Additional Home Equity Loan terms available; call 877-MY-METRO ext. 7589.
Monthly
| Term | Points | Interest Rate | APR* | Cost per $1000 |
| 20 Year | 0 | 6.25% | 6.25% | 7.31 |
| 15 Year | 0 | 5.75% | 5.75% | 8.30 |
| 10 Year | 0 | 5.50% | 5.50% | 10.85 |
| 5 Year | 0 | 5.00% | 5.00% | 18.87 |
Bi-Weekly
| Term | Years to Pay Off | Points | Interest Rate | APR* | Cost per $1000 |
| 20 Year | 16 Years 11 Months | 0 | 6.125% | 6.125% | 3.62 |
| 15 Year | 13 Years 1 Months | 0 | 5.625% | 5.625% | 4.12 |
| 10 Year | 8 Years 11 Months | 0 | 5.375% | 5.375% | 5.40 |
| 5 Year | 4 Years 6 Months | 0 | 4.875% | 4.875% | 9.41 |
Fixed Seconds: Minimum loan amount $15,000 and maximum $500,000. No prepayment penalty. No closing costs for LTV below 65% of property value on tax assessment. Refinances of Metro loans ineligible for no closing cost program. Terms from 1 to 20 years available. Bi-weekly loans require automatic payment from a Metro Account.
Home Equity Line of Credit Disclosure
Requirements for Metro Home Equity Lines and Loans: Property must be primary residence at application and to advance on the line. Valuations using tax assessment limited to 65% CLTV. For CLTV above 65% a $200 non refundable appraisal fee is required. Maximum CLTV may be reduced based on loan risk characteristics. Rates are automatically locked at time of application for 30 days. For properties held in realty trusts, borrower pays $75 recording fee, $60 review fee, appraisal fee and other fees apply. Refinances of Metro equity loans ineligible for no closing cost program. Maximum financing if Metro holds first lien: 80% SFR, 75% Condos and 2 units, 70% 3-4 units. Reduce 5% if Metro does not hold first lien. No Closing Cost Program includes mortgage recording, flood certificates, credit reports and title protection. Borrower responsible for all other fees, if any. Loans over $250,000 require a full appraisal. Additional terms and conditions apply.
