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Cathay bank

Online Banking

Home Advantage Plus Equity Line Program1

If you need funds to cover unexpected expenses or to consolidate personal obligations, our equity financing will make your borrowing fast and easy.

Home equity is the difference between the current market value of your home and your outstanding mortgage balance.

At Cathay Bank, we offer home equity financing with competitive rates.

Occupancy & Maximum Combined Loan To Value
Eligible Borrower Occupancy 1st Lien 2nd Lien
lndividuals Primary Residence or Second Home 70% 65%
lndividuals Investment Property 65% 60%
Non-Residents or Non-Permanent Residents Second Home or Investment Property 60% 60%
Introductory Rate: 3.88%2 for first 6 months
Lien Position Interest Rate
1st Lien WSJ Prime + 1.00%
2nd Lien WSJ Prime + 1.50%
Available Interest Rate Discounts
Relationship Discounts 0.125% off the margin3
Initial Draw Discounts 0.250% or 0.375% discount off the margin4
Note: Life Caps -12% for state of Washington; 18% for all other states.
To learn more about our Home Equity Line of Credit program or to start an application, simply visit a local Cathay Bank Branch near you or call us at: 1-800-9CATHAY.

All rates, fees5, products, and program guidelines are subject to change or discontinuation without prior notice. Other limitations and restrictions may apply. All loans are subject to Cathay Bank's application, underwriting, appraisal, and credit approval.





During the Draw Period, the regular payment will be the amount of the accrued finance charges. If there is an outstanding balance at the end of the Draw Period, the regular payment during the Repayment Period will be a fixed amount which will fully repay the outstanding balance plus all accrued finance charges.

1 Qualifying states include: California, Illinois, Massachusetts, Nevada, New, Jersey, New York, Washington. Currently, home equity products are not offered in Maryland and Texas.
2 Current initial Annual Percentage Rate Discount of 3.88% for the first 6 months, followed by Variable Rate tied to Prime plus Applicable Interest Margin. The Annual Percentage Rate (APR) is a variable rate tied to the Wall Street Journal Prime (WSJP) Index plus applicable interest margin. As the WSJP Index changes, the rate on the Line changes. The rate on the Line will not exceed 18% APR. Initial APR subject to change at our discretion.
3 0.125% off the margin if qualified Cathay Bank deposit account is set up for automatic monthly payments.
4 0.250% or 0.375% discount off the margin for drawing a minimum of $30,000 or $50,000 respectively at HELOC account opening and maintaining a minimum balance of $30,000 or $50,000 for at least the first 6 full billing cycles.
5 No origination fee for lines up to $500,000. For Primary Residence and Second Home over $500,000, a $650 origination fee plus third-party fees will be paid by the borrowers. For Investment property, 0.25% of line amount origination fee will be paid by borrowers. Annual Fee of $100 will be waived the first year of account opening thereafter, annual fee will be due at the beginning of the 2nd year after line account opening. Annual fee will be waived if HELOC maintains a minimum balance of $10,000 within a 12-month average outstanding principal balance. Estimated fees imposed by Third Parties may range at:

Credit Limit CA IL MA NJ NV NY WA
$100,000 $2,050 $1,800 $2,050 $3,100 $1,650 $4,500 $2,300
$500,000 $2,600 $1,950 $3,250 $4,450 $2,350 $14,000 $2,800
$750,000 $3,050 $2,200 $5,050 $5,350 $2,850 $22,000 $3,400

 

 



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1-800-9CATHAY

(1-800-922-8429)

Consumer Customer Service
6:00 a.m. - 7:30 p.m. Pacific Time, Monday through Friday.
 

Business Customer Service

6:00 a.m. - 6:00 p.m. Pacific Time, Monday through Friday.

Automated information is available 24 hours a day, 7 days a week.

U.S. customers in Hong Kong can dial toll-free 3710-1400 to contact U.S. Customer Service directly.


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