Please click the button at the bottom of this page to continue. The length of the draw period is 10 years during which time you will be able to obtain credit advances. The Credit Union may at its option, extend the draw period. Payment for the next billing cycle is determined when the current cycle's payment is received. The minimum payment is the scheduled periodic payment, plus any past due amount, plus any amount in excess of your credit limit and all other charges prior to calculating the payment amount.
Payments are due monthly.
Each time the payment changes you will be given a notice showing the amount and due date of your next payment. You agree to always pay the minimum amount due on or before the due date. Upon your request, we will give you an itemization of the fees you will have to pay to third parties. Closing costs will be waived if we pay off your present APL Federal Credit Union Home Equity Line of Credit with a new Home Equity Credit Line of the same line amount. Closing costs will be rebated after the first 12 months of the Plan up to the amount of the first years' interest, provided that the plan remains open for the first year.