PRIME EQUITY LINE OF CREDIT

A Prime Equity Line of Credit lets you establish a flexible line based on the equity in your home, and draw on it by simply writing an access check. You can use the cash whenever you need it, for almost any purpose. This might be appropriate when your borrowing needs vary over time, or if you want to be able to quickly access funds for emergency purposes. The interest expense is typically tax-deductible (consult your tax advisor concerning interest deductibility).

The interest rate for a Prime Equity Line of Credit adjusts monthly based on a rate index plus or minus a margin. The index is based on the Prime Rate, as published in The Wall Street Journal, Eastern Edition, in the following states: AK, AL, AZ, CA, CO, CT, DC, DE, FL, GA, IL, KS, MD, MS, NH, NC, NJ, NV, NY, OK, PA, SC, TN, TX, VT, VA, and WI.

For all other states, you may choose either the prime rate or the 1-month LIBOR rate as published in The Wall Street Journal, Eastern Edition as your index.

Wachovia's Prime Equity Line offers the following features:

10-15 year draw period¹
$11,000 minimum line amount²
Up to $1 million for loan requests to access equity³
Up to $250,000 for loan requests to purchase property⁴
Convenient access checks, Visa® Platinum card⁵
Get predictable payments by fixing your rate, term, and payment on converted balances⁶
Bank paid or borrower paid closing cost options are available

The links below can also help you make a more informed decision and show you how the application process works.

Home Equity Comparison Chart

How to Use the Equity in Your Home

Understanding the Application Process

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¹ 15 year draw period and a 15 year repayment period in the following states: AK, AL, AZ, CA, CO, CT, DC, DE, FL, GA, IL, KS, MD, MS, NH, NC, NJ, NV, NY, OK, PA, SC, TN, TX, VT, VA, and WI.

² Minimum line amounts may vary by product and state.

³ Maximum loan-to-values vary by product and area.

⁴ Prime Equity Line of Credit can be opened in a purchase transaction only when it is a second lien.

⁵ Credit card access available where allowed by applicable state law. Visa Platinum card is a registered service mark of Visa International, Inc.

⁶ Fixed Rate Option only available in AK, AL, AZ, CA, CO, CT, DC, DE, FL, GA, IL, KS, MD, MS, NH, NC, NJ, NV, NY, OK, PA, SC, TN, TX, VT, VA, and WI.

All loans and lines of credit are subject to credit approval, verification, and collateral evaluation and are originated by Wachovia Mortgage, FSB, Wachovia Bank, National Association, Wachovia Financial Services, Inc., or where applicable Wachovia Bank of Delaware, National Association. Products are not available in all states and are subject to change without notice.

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