Home Equity Loans & Lines of Credit

This information is valid only for lines of credit applications submitted to Personal Bankers at Wells Fargo Bank branches, by phone or online. Rates subject to change and vary by Wells Fargo Bank market area. $165 interest-only monthly payment is based on 6.615% variable Annual Percentage Rate (APR) as of January 6, 2010, for a credit amount of $30,000, 70% maximum combined loan-to-value and secured by an owner-occupied residence in California, assumes excellent borrower credit history, and includes a 0.375% discount for a Wells Fargo® PMA® Package and a 0.125% limited-time bonus relationship APR discount, which is valid on applications submitted between January 2, 2010, and March 19, 2010. . Automatic payment required for relationship discount(s) and limited-time bonus relationship discount.

Interest only loans/lines provide for the payment of interest for a set period of time and payments of principal and interest for the remainder of the loan term. During the interest only period, principal is not reduced. At the end of this period, your monthly payment will increase, possibly substantially, even if you have a fixed interest rate because you will be required to pay down the outstanding principal. Always consider paying more than the minimum payment to pay down the principal. Because these product features do not require you to make principal payments during the interest only period, you may have a higher Annual Percentage Rate or interest rate than a traditional mortgage product, depending on the specific loan details.
2 The Annual Percentage Rate (APR) is variable and based on the highest Prime Rate published each day in The Wall Street Journal Money Rates Table (the "Index"), plus a margin. The Index as of December 17, 2008 is 3.25%. As of January 6, 2010 current margins for lines of credit of $10,000 to $30,000 ($500,000 maximum amount) secured by owner-occupied properties with 70% combined loan-to-value range from 7.115% to 3.365% resulting in corresponding variable APRs ranging from 10.365% to 6.615%. Minimum APR is 4.24%; maximum APR is 18%. APR does not include costs. Your APR will be based on the specific characteristics of your credit transaction, including evaluation of credit history, CLTV, property type, amount of credit, term and geographic location. Accounts are subject to a $75 annual fee which is waived for the first year and thereafter with an average daily balance of $20,000 or greater for twelve consecutive months previous to the annual fee assessment date and a $500 prepayment fee may apply if account is closed within three years from account opening. There is no annual fee or prepayment fee for accounts secured by Texas homestead properties. Opening fees may be paid to Wells Fargo, its affiliates or third parties and range from $19 to $9,000 depending on the property type, the state in which the property is located and the amount of credit extended and include applicable state or local mortgage taxes. This Account has a Draw Period of 10 years plus 1 month, after which you will be required to repay any amounts borrowed within a 15- or 30-year term, depending upon your account balance.

Approval subject to credit underwriting guidelines. Home equity loan and lines of credit are available through Wells Fargo Home Equity Group, a division of Wells Fargo Bank N.A. Deposit and loan products, including PMA Prime Checking account, offered by Wells Fargo Bank, N.A. Member FDIC