Open Your Wallet
Routing Number: 272479663 Swift Code: MSUCUS44
 
Open Your Wallet
×

Your Wallet

It looks like your wallet is currently empty.
You may be interested in...

Totally Green Checking
Totally Green Checking
SmartLine Home Equity Loan
SmartLine Home Equity Loan
We're here to help.
What happens when I make payments?
Monthly payments are required once funds are borrowed from a SmartLine℠ Home Equity Loan. If there are no locked segments, the options for repayment are either monthly payments of 1% of the amount borrowed or Interest only, if eligible. These options are available during the 15 years of advances. After the 15 years, you will have 10 years to pay off the outstanding amount borrowed.

If there is a locked segment, repayment is made by making the fixed-rate monthly payment at the rate determined at the beginning of the lock. If there are multiple locks, the monthly payment would be the sum of the fixed-rate monthly payment of each.

If there are locks and money that has been borrowed from the line of credit, the monthly payment would be the sum of the fixed-rate monthly payment plus either 1% of the amount borrowed or interest only on the amount borrowed outside of the lock.

As payments are made, these funds replenish in your line of credit minus any interest paid. The amount owed will go down and credit availability will go up.
Was this information helpful?
Yes, thank you
No, not really
Please let us know how we can make this better.
    Great!
    Thank you for your feedback!