Home Equity Loans & Lines of Credit

1 Rates vary by Wells Fargo market area. 4.865% Annual Percentage Rate (APR) available on credit amounts of $250,000 or more in California; applies to a new Wells Fargo Home Equity Account; assumes maximum combined loan-to-value (CLTV) 70%, excellent credit history and includes APR discounts for a Wells Fargo® PMA® Package and automatic monthly payment from a qualified deposit account. If the automatic payment option is not selected or is cancelled after account opening, the APR will increase by 0.25%.
2 The Annual Percentage Rate (APR) is variable and based on the highest Prime Rate published each day in The Wall Street Journal Money Rates Table (the "Index"), plus a margin. The Index as of June 11th, 2008 is 5.00%. Effective August 11th, 2008 current margins for lines of credit of $10,000 to $500,000, excellent credit history, secured by owner-occupied properties with 70% combined loan-to- value range from 4.74% to -0.385%, resulting in corresponding variable APRs ranging from 9.74% to 4.615% Minimum APR is 4.24%; maximum APR is 18%. APR does not include costs. Your APR will be based on the specific characteristics of your credit transaction, including evaluation of credit history, CLTV, property type, amount of credit, term and geographic location. Accounts are subject to a $75 annual fee which is waived for the first year and thereafter with an average daily balance of $20,000 or greater for twelve consecutive months previous to the annual fee assessment date and a $500 prepayment fee may apply if account is closed within three years from account opening. Opening fees may be paid to Wells Fargo, its affiliates or third parties and range from $0.00 to $13,000 depending on the property type, the state in which the property is located and the amount of credit extended and include applicable state or local mortgage taxes. This Account has a Draw Period of 10 years plus 1 month, after which you will be required to repay any amounts borrowed within a 15- or 30-year term, depending upon your account balance. Quoted APRs include a 0.25% discount for automatic payment from a qualified deposit account (if the automatic payment option is not selected or is cancelled after the account is opened, the APR will increase by 0.25%), and a 0.25% discount for a PMA Package. The PMA Package is free of the monthly service fee for each month the statement-ending balances in qualifying accounts total $25,000 or more; otherwise a monthly service fee of $25 will apply. Wells Fargo accounts that may be linked to your PMA Package and used for balance qualification include checking, savings, time accounts (CDs), retirement (IRAs) brokerage, trust (excluding irrevocable trusts), loans, outstanding credit cards and lines of credit balances, and 10% of outstanding mortgage balances (certain mortgages not eligible). Hazard and, if applicable, flood insurance required. This offer is valid only for applications submitted to Personal Bankers at Wells Fargo Bank branches, by phone or online.
3 After final conditions have been met. Process takes an average of 29 days. Home equity loan and lines of credit are available through Wells Fargo Home Equity Group, a division of Wells Fargo Bank N.A.