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BBVA Compass

Access your home’s equity
and take advantage of our
"Bank Paid Closing Costs."

Apply before June 30, 2014 to take
advantage of this special offer.

Accessing your home’s equity can be a smart way to pay for major expenses like home improvement projects, education expenses, medical bills, a dream vacation and more!

And now we’ve made it easy to save on a BBVA Compass Equity Optimizer® Home Equity Line of Credit or Home Equity Loan. Now through June 30, 2014 we’ll pay your closing costs on new BBVA Compass Home Equity products with loan amounts ranging from $10,000 to $500,000. This offer is available for:

HELOCs:

  • 2nd lien in amount from $10,000 to $500,000
  • 1st lien ranging from $250,001 to $500,000

Home Equity Loans:

  • 2nd lien ranging from $10,000 to $500,000

Home Improvement Loans:

  • 2nd lien in amount of $100,000 and below

Or borrowers who chose to pay their closing costs are eligible to receive an additional discount in the loan’s best rate as follows:

  • Loans and lines within $250,001 and $400,000 will receive a discount of .15% off standard rates
  • Loans and lines within $400,001 and $500,000 will receive a discount of .25% off standard rates

HELOC Benefits and Features

  • Flexibility to access funds now or in the future.
  • As the balance owed is paid down, it becomes available again.
  • Funds can be accessed through a VISA Platinum Credit Card, convenience checks, advances at a branch or by phone. (Visa Platinum Card is not available for Texas borrowers).
  • Plus, using your home’s equity can generate potential tax savings. Consult your tax adviser for further information regarding the deductibility of interest and charges.

Home Equity Loan Benefits and Features

  • Fixed rates and monthly payments.
  • You get the lump sum of the loan three business days after your closing date.
  • Plus, using your home’s equity can generate potential tax savings. Consult your tax adviser for further information regarding the deductibility of interest and charges.

We’re here to make the process simple for you. Hurry — your application must be received between April 1 and June 30, 2014 and subsequently close on or before August 15, 2014 to be eligible for this special offer.

BBVA Compass Equity Optimizer® Home Equity Line of Credit: Collateral/Loan Terms: All loans and lines of credit are subject to program eligibility, underwriting and collateral requirements and approval, including credit approval. BBVA Compass must receive a valid first or second real estate lien on a primary residence occupied by the borrower. Offer does not include manufactured homes. Property insurance required including flood insurance, where applicable. Rates and terms are subject to change without notice. Special offers available only on applications received between 4/1/14 and 06/30/14 that close by 08/15/14. Federal and state law restrictions apply to all home equity loans and lines of credit. Texas Loan Terms: Maximum credit line cannot exceed 50% of appraised value of property. BBVA Compass must receive a valid first or second real estate lien under Article XVI, Section 50(a) (6) of the Texas Constitution on a primary residence occupied by the borrower. Home Equity Line of Credit: Minimum line amount is $10,000. Minimum payment of $75 or total amount outstanding whichever is less. $50 annual fee charged on the first anniversary of the line and every year thereafter (not applicable in Texas). $75 fee for each fixed rate option, waived for the first transaction. HELOC APR: 3.50% - 6.00% variable. Interest rate will vary based on The Wall Street Journal U.S. Prime Rate. Maximum APR not to exceed 18%. Minimum APR (floor rate) in effect at closing will apply after expiration of promotional period (currently 3.50%). Closing Costs: For a limited time, you can choose between bank-paid or borrower-paid closing costs on new BBVA Compass home equity products with amounts ranging from $10,000 to $500,000. Credit requests for less than $10,000 or more than $500,000 shall be subject to actual closing costs incurred and permitted by law. Closing cost offer not available with refinance of a first mortgage. Closing costs paid by the lender will be recovered by the lender if the borrower pays the loan/line in full within two years (not applicable in Texas). A higher rate will apply to your loan/line of credit if you choose to have the bank pay your closing costs.

 

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