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How is my interest rate (APR) calculated for my variable rate home equity loan or line of credit?

April 26, 2017Apr calculated home equity Interest rate line of credit loan rate

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How is my interest rate (APR) calculated for my variable rate home equity loan or line of credit?

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Your Annual Percentage rate (APR) is based on an index plus a margin. The index used by IndyMac Bank is The Wall Street Journal Prime Rate and is published in the Money Rates section of The Wall Street Journal. We will provide you with the current index value and margin upon approval of your home equity credit. After your loan or line is established, rate information will be provided on your monthly statements.