Light Green 2nd Mortgage - Pacific Trust Bank

The Light Green Account
America’s first fully-transactional, flexible
2nd mortgage account

Choose either our 3-Year Fixed Initial Rate or Monthly Adjustable Light Green Program, with rates as low as Prime Minus 1/2%

Now, there’s a 2nd mortgage Home Equity Green Account - we call it “Light Green” - that allows homeowners to keep their existing low-rate first mortgage. You can still simplify your finances and reap all of the Green Account’s advantages.

Light Green works in exactly the same way as our first mortgage Green Account, and it’s fully-transactional with complete payment flexibility.

You can use Light Green to combine and replace your checking, savings, line of credit and other accounts.
All Light Green deposits immediately reduce the loan balance to lower your finance charges. Each withdrawal increases your Light Green loan balance.
You can access funds as frequently as desired (up to your credit limit), by check, debit card, ATM or other means, and use HomeAccess Online Banking and Bill Payment to monitor and manage your funds.

Two Light Green Interest Rate Adjustment Programs

Depending on your interest rate change outlook, you can choose either our Monthly-Adjustable or our 3-Year Fixed/Monthly-Adjustable Light Green programs. Both Light Green program interest rate will adjust based on the major bank Prime Rate.

Light Green Rates - As low as Prime Minus 1/2%

Light Green is a 2nd mortgage home equity line of credit with a variable interest rate that adjusts monthly based on the major bank Prime Rate (plus a margin). Rates as low as one-half percent below Prime are currently available (other interest rates/margins may apply depending on your financial circumstances).


Combined Loan-To-Value Ratio *	Monthly-Adjustable Initial Interest Rate	Adjustable Rate	APR Example With Current 5.00% Prime Rate **
70% or less	4.50%	Prime -0.5%	4.50%
Up to 80%	5.00%	Prime Flat	5.00%
* based on good credit and an owner-occupied 1-4 family residence with combined 1st and 2nd mortgage credit of $1.5 million or less. Other terms may apply, and Light Green loan terms are also available on second homes and investor-owned properties. Initial Interest Rates for the 3-Year Fixed/Monthly-Adjustable Light Green program can vary each day based on current market conditions. Please call us for current offering rate terms and rate lock-in options. Light Green Minimum Credit Limit: $50,000
** as reported in the Wall Street Journal for 6/01/2008

Your initial Annual Percentage Rate ("APR") and the margin used for subsequent rate adjustments depends on the credit limit you choose relative to your home's value (your combined loan to value ratio or 'CLTV' - your 1st mortgage balance plus the Light Green credit limit, divided by your home's value).

For example, the Light Green 2nd Mortgage Account monthly-adjustable initial APR for a 70% or less CLTV owner-occupied home is currently 4.50% (effective for July 2008). That's the major bank Prime Rate value shown above, less one-half percent (or Prime plus a margin of -0.50%).

On its first interest rate change date and each month thereafter, your rate will adjust to equal the Prime Rate in effect for the first day of the previous month plus a margin, as specified in your credit agreement.

The Light Green account has no minimum APR, but your APR will never exceed 12.00%. Click here for a chart depicting the Prime Rate index history.

Open a Light Green Account with No Points. The borrower is responsible for certain fees to third parties to open a Credit Line. These fees typically range in total from $500 to $5,000 depending on property type and Credit Limit. If you ask, we will provide you a good faith itemization of such fees. Property insurance is required.

Offering terms are subject to change. Please call us at 877-441-BANK for current interest rates, margins and available credit limits applicable for your property and financial situation.

Get More Information

Please see our “Important Terms Of Our Home Equity Green Account” disclosure for complete details regarding our Light Green loan program's terms, fees and finance charges.

For general information about Home Equity Loans and Lines of Credit, please read the Federal Reserve Board's brochure "When Your Home Is On the Line".

The Next Step

Just like the original 1st mortgage Green Account, Light Green is about managing and simplifying your personal finances - it's about money, cash flow, and transactions, interest income and interest expense, savings and debt, earnings and costs, equity and net worth - "it's all about the Green".

Visit the Green Account Calculators section of our web site for illustrations of how a Green Account can work for you.

To see if a Light Green Account or our 1st mortgage Green Account is right for you or to find out more information, please talk over your home financing needs with a Pacific Trust Bank loan officer. We're here to help. Call us toll-free at (877) 441-BANK.

To request via e-mail additional information about Pacific Trust Bank's loan programs, please Click Here.

Pacific Trust Bank is an equal housing lender.