Home Equity Lines of Credit

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to learn more.

MERRILL LYNCH HOME LOANS™

Equity Access^® Home Equity Line of Credit from Merrill Lynch

When you need a ready, cost effective and flexible source of funds to help achieve what’s important to you—consider an Equity Access^® home equity line of credit.¹

The Equity Access^® account offers an adjustable-rate revolving line of credit for the first 10 years (draw period), with optional interest-only payments available, followed by fully amortizing payments for the remaining term of the loan.² With an Equity Access^® account, you’ll benefit from competitive rates, potential tax deductions on interest expense³ and no closing costs for credit lines up to $1,000,000.⁴ In addition, with a revolving line of credit you can draw or replace funds at your convenience without incurring unnecessary interest expenses. (Click here for Important Loan-Cost Disclosures.)

Features and Benefits Equity Access^® Account offers:

Ability to use the available equity in your home to borrow money at very attractive rates
Secured credit typically offers lower interest rates than unsecured credit, such as credit cards and personal loans
Quick, convenient loan closings at home or office as part of our Convenient Closing Program (see below for details)
Interest expense is potentially tax deductible³
Full line availability during the draw-down period and you only pay interest on the portion of the line used, not the entire line
Optional interest-only payments available during the draw-down period²
Merrill Lynch will pay all closing costs for credit lines up to $1 million. For credit lines greater than $1 million, the borrower will be responsible for all closing costs (minimum credit line is $50,000).⁴ (Click here for Important Loan-Cost Disclosures.)
Choice of 25- or 30-year terms (maximum 10-year draw period with 15- or 20-year amortized payback period)
No prepayment penalties
Large loan amounts available.⁵
Easy access to funds via personal check, Visa^® (where applicable), wire transfers or cashier’s check
Ability to combine an Equity Access^® account with a first mortgage and refinancing available with the advantage of one closing (not available in Texas) through Flexible First

A home equity line of credit gives you cash flow flexibility to help you meet current and future needs, such as:¹

Home improvements – increase the value of your home or make green improvements
Major purchases – finance a car at a rate which is typically better than most auto loans
Seasonal expenses – holiday shopping, tax time
Life events or education expenses – weddings, new baby, college tuition
Debt consolidation⁶

Convenient Loan Closing Program

Merrill Lynch Home Loans^TM offers the ability to close on your home equity loan from the convenience of your home or office. With this new mail-away closing, you’ll receive closing documents via mail. You simply follow the step-by-step instructions. In addition, we pay all closing costs for credit lines up to $1,000,000. For credit lines over $1,000,000, the borrower will be responsible for all closing costs.⁴ (Click here for Important Loan-Cost Disclosures.)

Please note: The following states are not eligible for the Convenient Loan Closing Program: New York, Texas, Connecticut, Maine, Georgia, South Carolina, Delaware and Arkansas because loans in these states must be closed with a local attorney.

¹Equity Access^® funds may not be used to purchase, carry or trade securities or repay debt incurred to purchase, carry or trade securities.

² This is an “interest-only” mortgage that allows you to pay only the interest on the money you borrow for a certain number of years. If you only pay the amount of interest that’s due, once the interest-only period ends, you will still owe the original amount you borrowed and your monthly payment will increase— even if interest rates stay the same—because you must pay back the principal as well as interest. You should ask what the payments on your loan will be after the end of the interest only period. If you are considering an adjustable-rate mortgage, ask about what your payments can be if interest rates increase.

Click here for Important Loan-Cost Disclosures.

³Merrill Lynch does not provide specific recommendations on tax issues. Consult your tax advisor regarding the deductibility of interest expenses. Interest expenses may not be deductible for all taxpayers.

⁴MLCC will pay all closing costs for credit lines up to $1,000,000. For credit lines over $1,000,000, the borrower will be responsible for all closing costs. This will include a credit report, flood determination, appraisal, recording and closing fees which will range between $330 and $3,450. In addition, the borrower will be responsible for paying title insurance that will range from $1.00 to $9.00 per $1,000 of the mortgage amount and mortgage recording taxes if your property is located in AL, FL, GA, KS, LA, MD, MN, NY, OK, TN or VA that range from $1.50 to $27.50 per $1,000 of the mortgage amount. Property insurance is required to establish and maintain your line of credit.

⁵Line amounts over $2 million may be available on a case-by-case basis to qualified applicants.

⁶The relative benefits of a loan for debt consolidation depend on your individual circumstances and your actual debt payments. You will realize interest payment savings when you make monthly payments towards the new, lower interest rate loan in an amount equal to or greater than what you previously paid towards the higher rate debt(s) being consolidated.

MLCC reserves the right to reduce or suspend your Equity Access credit limit in the future for reasons set forth in your loan agreement, including but not limited to a significant decline in the value of your property or a material change in your financial circumstances.