Momentum Home Equity Line of Credit 

OAC. $99 annual fee. Minimum loan amount of $10,000 required. An introductory rate is available for a 3-month period following loan booking and applies to all balances during that period. After the introductory period, the loan will convert to the standard variable rate. Rates are variable and subject to change. Horizon will pay some closing costs associated with this loan such as origination, credit report, flood determination, title search, and automated property valuation. The borrower is responsible for recording fees, reconveyance fees, taxes and any other applicable state or county fees required by law. If an appraisal is required, the borrower/applicant is responsible for the appraisal fee whether the loan is approved and funded or not. If the loan is closed within 24 months of origination, the borrower will be required to reimburse Horizon for the full amount of total closing costs paid for the loan. Membership fee, restrictions, and other terms may apply. Standard rate displayed is a variable rate and the lowest available to qualified borrowers; your rate may be higher. Rate based on Wall Street Journal prime rate plus a margin and is adjusted quarterly. Current rates range from 7.25% – 18.00% The maximum APR is 18.00%. Rate subject to change without notice. Borrowers may opt for interest-only payments during the initial draw period (10 years). Monthly payments are typically lower with the interest-only payment option; however your principal balance will remain the same until you make additional payments to the principal. After the draw period, the monthly payment will be calculated to repay your loan within the remaining 15 years and may adjust quarterly based on the prime rate. During the initial 10-year draw period, you may elect to convert portions of the Home Equity Line of Credit from a variable rate to a fixed-rate loan for a fee of $75. The minimum amount to be converted to a fixed rate is $5,000.