December 5, 2011
| Loan/Line Amount | Repayment Terms |
Loan/Line Annual Percentage Rate (APR) |
|
|---|---|---|---|
VCB Prime Equity Line1 |
80.01% to 85.00% $10,000 minimum |
10 years |
3.75% |
80.00% or Lower $10,000 minimum |
10 years |
3.50% |
|
3.75% |
|||
VCB Home Equity Loan2 |
80.01 to 85.00% LTV $10,000 minimum |
5 years |
6.125% |
VCB Premier Line3 |
Credit limit $10,000 – $100,000 |
10 years |
5.25% |
Overdraft Line of Credit4 |
$1,000 – $5,000 |
5.00% of your monthly outstanding balance or $50.00, which ever is greater |
18.00% |
Unsecured Personal Loans5 |
$5,000 minimum |
Up to 36 months |
11.75% |
| Automobile Loans | Model Year | Loan Term |
Loan Amount | Loan Rate (APR) with Auto Debit from VCB Account | Loan Rate (APR) with Coupon Book |
|---|---|---|---|---|---|
New Vehicles6
|
Up to 36 months |
$10,000 and under |
5.50% |
5.75% |
|
Up to 48 months |
$10,000 and under |
5.75% |
6.00% |
||
Up to 60 months |
$10,000 and over |
6.00% |
6.25% |
||
Up to 72 months |
$25,000 and over |
6.25% |
6.50% |
||
Previously-Owned Vehicles7
|
2011 |
Up to 60 months |
$1,000 minimum |
6.25% |
6.50% |
2010 |
Up to 48 months |
$1,000 minimum |
6.50% |
6.75% |
|
2009 |
Up to 36 months |
$1,000 minimum |
6.75% |
7.00% |
|
2008 |
Up to 36 months |
$1,000 minimum |
7.00% |
7.25% |
1VCB Prime Equity Line. Home Equity Lines of Credit apply to owner-occupied residences and second homes only and do not apply to investment properties. The index rate (Wall Street Journal Prime) was 3.25% as of December 16, 2008. The maximum APR is 18%. The APR may vary. For lines 80.01% to 85.00% loan to value, the following examples would apply: Based on a $10,000 outstanding balance and the current index, a 3.75% APR would apply. The average minimum monthly payment would be $31.25. For this example, if interest-only payments are made monthly, a balloon payment of $10,031.25 and any unpaid fees will be due in full at the end of the term. For lines 80.00% LTV or lower, with a maxium line amount of $49,999.99 the following examples would apply: Based on a $10,000.00 outstanding balance and current index, a 3.75% APR would apply. The average minimum monthly payment would be $31.25. For this example, if interest-only payments are made monthly, a balloon payment of $10,031.25 and any unpaid fees will be due in full at the end of the term. For lines 80.00% LTV or lower, with a minimum line amount of $50,000.00, the following examples would apply: Based on a $10,000.00 outstanding balance and current index, a 3.50% APR would apply. The average minimum monthly payment would be $29.17. For this example, if interest-only payments are made monthly, a balloon payment of $10,029.17 and any unpaid fees will be due in full at the end of the term. Lines of credit that are paid off and closed within eighteen months may be subject to an early termination fee of 1.00% of the line amount. Maximum early termination fee would be $2,500. Customer would be responsible for paying closing costs on lines over $250,000. The estimated costs could range between $702 and $3,736. No closing costs on lines up to $250,000.00 for owner-occupied residences in the state of Virginia. Adequate property insurance and a mortgage lien are required. Existing Virginia Commerce Bank home equity line customers may apply for new lower APR for a fee of $150. To receive advertised APR, a VCB Check Card and auto-debit from a Virginia Commerce Bank checking account are required.
2VCB Home Equity Loan. Based on a $10,000 loan balance, LTV of 80.01% to 85.00% and term of 5 years, a 6.125% APR would apply. The monthly payment in this example would be $193.91. No closing costs on lines up to $250,000.00 for owner-occupied residences in the state of Virginia. Customer would be responsible for paying closing costs on loans over $250,000. Loans that are paid off within eighteen months may be subject to reimbursement of closing costs. These costs generally total between $702.00 and $3,736.00. Adequate property insurance and a mortgage lien are required. To receive advertised APR, a VCB Check Card and auto-debit from a Virginia Commerce Bank checking account are required.
3VCB Premier Line. Standard underwriting guidelines for unsecured credit apply. The index rate was 3.25% as of December 16, 2008. The maximum APR is 18%. The APR may vary. For line amounts of $25,000 and greater, based on a $10,000 outstanding balance and the current index, a 4.25% APR would apply. The minimum monthly payment would be $35.42. If interest-only payments are made monthly, a balloon payment of $10,035.42 and any unpaid fees will be due in full at the end of the term. For line amounts less than $25,000 based on a $10,000 outstanding balance and the current index, a 5.25% APR would apply. The minimum monthly payment would be $43.75. If interest-only payments are made monthly, a balloon payment of $10,043.75 and any unpaid fees will be due in full at the end of the term. Existing VCB Revolving Lines of Credit are not eligible to be refinanced at this tiered rate.
4Overdraft Line of Credit. The term is continuous unless terminated by the lender. Your payments will be automatically deducted from your Transaction Account whether or not a payment has been made prior to the due date.
5Unsecured Personal Loans. Based on a $10,000 loan and a term of 36 months, an 11.75% APR would apply. The monthly payment in this example would be $330.91. To receive advertised APR, an auto-debit from a Virginia Commerce Bank checking account is required.
6New Vehicles. 100% financing on the purchase price with qualifying credit. Based on a $10,000 loan and a term of 36 months, a 5.75% APR would apply. The monthly payment in this example would be $303.07.
7Previously-owned Vehicles. Based on a $10,000 loan for a 2008 vehicle and a term of 36 months, a 7.25% APR would apply. The monthly payment in this example would be $309.89.
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