¹ The Introductory Annual Percentage Rate (APR) of 6.24% applies to balances on the first six monthly statement cycles after the account open date. To receive this rate, the application must be submitted between November 1, 2024, and February 28, 2025, the loan must close within 60 days of application date.  After the introductory period expires, your balance will automatically convert to the variable APR pursuant to the terms of Comerica’s HELOC agreement. The variable rate is based on the Prime Rate as published in The Wall Street Journal plus or minus a margin. The variable rate will change with the Prime Rate but will not exceed 18%. Your specific rate is based on combined loan-to-value (CLTV), line amount, collateral value, collateral location, and credit history.  Comerica offers the following discounts after the introductory APR expires. Discount of 0.25% for setting up and maintaining automatic payments from your Comerica account before opening your HELOC; or a Relationship discount to Prime + 1% for customers who meet eligibility requirements. These offers cannot be combined and are not eligible on any introductory APR offer. Current Prime Rate is 7.75% as of November 15, 2024. Depending on applicant qualifications and property location, APRs as of November 30, 2024 range from as low as stated above for line amounts $100,000 or greater.

 ² Interest only lines of credit provide for the payment of interest only during the 10-year draw period, for the remaining 20-year loan term principal and interest payments are required. During the draw period, you are required to pay the greater of the minimum periodic payment amount of $100 or the monthly interest payment amount.

 ³ You have the option to transfer all or part of your variable rate balance to an amortizing fixed rate; however, the fixed rate may be higher or lower as rates are based on market conditions. A fee of $100 is imposed on each variable rate balance transferred to a fixed rate in AZ, CA, FL, and MI (no fee in TX). The account must not be in default, minimum transfer of $2,500 per transaction with a maximum of three open transfers at once.

Insurance is required on the property securing the account, flood insurance is required when the structure on the property is in Special Flood Hazard Area.

$50 annual fee is waived in the first year ($80 in CA, no annual fee in TX).

For line amounts of $500,000 or less, Comerica will pay for specified fees (as applicable) on your behalf including: title, initial property evaluation, documentation stamps and/or intangibles tax. For accounts paid in full and closed within the first two years (three years in CA), you must reimburse any documentation stamps and/or intangibles tax fees plus pay an early termination fee. Early termination fee is the lesser of either 2% of approved line amount or $350 (AZ,FL, MI)/$500 (CA)/No fee in TX.

For properties in TX with HELOC accounts: Pursuant to Texas Constitution Section 50(a)(6), the minimum draw amount is $4,000. Comerica Premier Equity Access Card is not available, but access checks will be provided upon request.

This special offer is not a commitment to lend and is subject to credit and collateral approval. Introductory offer is limited to applications received between November 1, 2024, and February 28, 2025 and cannot be combined with any other discounts or special promotions. Terms and conditions apply. A security interest will be taken in your home, loss of the dwelling may occur in the event of default. Comerica reserves the right to modify or end this offer at any time.

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