First Midwest Bank | EquiFlex Home Equity Lines

EquiFlex^SM Home Equity Lines

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The First Midwest EquiFlex Home Equity Line of Credit^*can be a smart borrowing option for many homeowners. Simply stated, home equity is the difference between how much your home is worth and how much you owe on your mortgage. An EquiFlex Home Equity Line of Credit may be perfect for:

• Home improvements
• Your child's education
• Consolidating debt

Funds can be used for any purpose, at any time, simply by writing a check or using your First Midwest Bank MasterCard^® EquiFlex Card. You have control over your monthly payments with a variety of repayment options. You can even lock a portion of your variable-rate line into a fixed-rate loan at any time, for only $50, to avoid interest rate risk. This fixed rate option allows you to convert all or a portion of your outstanding line to a fully amortized fixed-rate repayment schedule with terms ranging from 3 to 15 years (depending on the remaining term of the line). You can have up to three locked portions (fixed rate options) within your EquiFlex Home Equity Line of Credit, and you have the ability to lock/unlock your funds at any time.

Combine your First Midwest EquiFlex Home Equity Line of Credit with a First Midwest Checking account, and you may even qualify for a rate discount! Finally, you'll get 100 Tuition Rewards points plus 5% of the original line amount of your EquiFlex Home Equity Line of Credit.

An EquiFlex Home Equity Line of Credit typically has a lower interest rate than most traditional loans or credit cards, and the interest may be tax-deductible (consult your tax advisor). We offer a streamlined loan application process, and we'll help you get the best possible terms.

Call 800-241-1749 to talk with a First Midwest Banker about how an EquiFlex Home Equity Line of Credit can improve the quality of your life and give you the means to take advantage of opportunities that create value and build security for the future – with a term that best fits your financial needs.

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^*Subject to credit approval.

¹The 3.50% Annual Percentage Rate (APR) is available on EquiFlex Home Equity Lines of Credit with a loan-to-value (LTV) up to 85% with a minimum approved credit line of $5,001. APR will change based on Prime plus or minus a margin designated by program and plan selected. The APR is indexed to the Prime Rate as posted in the Wall Street Journal. As of 03/01/12 Prime is currently at 3.25%. LTVs up to 80% and approved lines of $5,001 to $49,999 are Prime +.50; approved lines of $50,000 to $99,999 are Prime +.25; approved lines of $100,000 and over are Prime. LTVs between 80.01% and 85% and approved lines of $5,001 to $49,999 are Prime +1.50; approved lines of $50,000 to $99,999 are Prime +1.25; approved lines of $100,000 and over are Prime +1.00. The maximum APR is 18.00%. The minimum APR is 4.00%. APR and margin apply to owner-occupied dwellings only. The Home Equity Line of Credit has a term of 15 years; failure to make more than the minimum payment will result in a balloon payment. Offer is subject to credit qualifications. Property Insurance is required on property secured for this plan. Other rate enhancements do not apply. If a Credit Line is closed within the first 24 months, a fee of $350 will be charged (does not apply to Iowa residents). Offer is available for new EquiFlex Home Equity Lines only and to current First Midwest Home Equity clients whose current line is within 12 months or less of maturity. Offer effective March 28, 2012 and is subject to withdrawal or change at any time without notice. Annual fees of $50 for IL and $15 for IA residents do apply.

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