There was a change in the Prime Rate. Why wasn’t the interest rate on my Home Equity Line of Credit changed to reflect the new rate? : Third Federal Savings & Loan

There was a change in the Prime Rate. Why wasn’t the interest rate on my Home Equity Line of Credit changed to reflect the new rate? Print

Modified on: Wed, 30 Oct, 2019 at 2:46 AM

From time to time, the interest rate on your Home Equity Line of Credit (ELOC) may change due to a change in the Prime Rate.

The interest rate will change effective the date of the Prime Rate change, and the interest is prorated based on when the change occurred during the month.

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There was a change in the Prime Rate. Why wasn’t the interest rate on my Home Equity Line of Credit changed to reflect the new rate? Print

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