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Personal Loans and Lines of Credit




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vacation home equity line of credit

Apply for a loan by:
Best use:
Line of credit from $5,000 to $150,000 with variable interest rate for up to 75%  loan to value (LTV).
Term:
5-year draw period followed by 10-year repayment period
Collateral:
Owner-occupied residences (excluding condominiums). No rental properties
Extras:
  • 0.25% rate discount with auto pay from an Umpqua Bank deposit account
Minimum monthly payment:
Interest only during draw period. Principal and interest amortized during 10-year repayment period, with minimum amount due of $50
Closing costs:
We pay standard closing costs. Appraisals requested by homeowners are not included.
One-time origination fee:
N/A
Fixed interest rate:
N/A
Optional Lock in Feature
N/A
Lock in fee:
N/A
Early closure penalty:
$500 if loan closed within first 3 years
Lock in term:
N/A
Late payment fee:
CA: Greater of $5 or 5% of any minimum payment not paid within 10 days after due date.
NV, OR & WA: 5% of any minimum payment not paid within 15 days after due date.
Annual fee:
$100 (waived first year)
Lock in fixed rate:
N/A
Amount you may lock in:
N/A
Advance options:
Check (minimum $100), in-store advance, transfer via online banking and telephone transfer
Other possible fees:
  • Stop payment: $28 per item
  • Returned check for non-sufficient funds:$35 per item
  • Advance less than minimum amount: $20 per item
    • The fine print:
    All accounts subject to credit approval. 
    1 Click "Rate details" for rate information.  Rates shown are effective as of 06/03/2013.  The variable Interest Rate and corresponding Annual Percentage Rate (APR) are based on the Wall Street Journal Prime Rate (the "Index") plus a margin.  The margin is determined based on the amount of the approved credit line and Bank evaluation of the borrower's credit score and credit history.  Minimum APR: 5.00%.  Maximum APR: 18%. Rates are subject to change monthly based on changes in the value of the Index.  Property insurance required; flood insurance is also required if the property is in a special flood hazard area.  A $10,000 vacation home equity line of credit, at a 65% LTV and a APR of 6.25% would be repayable in 60 monthly interest-only payments of $52.08 each during the five-year Draw Period, and 120 monthly  principal and interest payments of $112.28 each during the ten-year Repayment Period. 
    Rate details:
    details
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