How to use a fixed rate option HELOC

Using the fixed rate option, you can convert some or all of your UMB HELOC balance to a fixed rate for a set term. The fixed rate option may be a good choice if:

• You're concerned about a changing rate environment.
• You want fixed monthly payments.
• You want a strategy in place to help repay your balance over a set timeline.

Fixed rate benefits:

• Funds that allow you to accomplish your goals, whether it's fixing up the house or making a large purchase.
• Multiple payment options, including the option for interest-only payments during the draw period.
• Peace of mind to "lock in" up to three separate balances on your UMB HELOC at a fixed rate, with options for interest-only or principal-and-interest payments.

Important details

The fixed rate option may be requested during the draw period. The interest rate and your monthly payment on any portion of your loan that converts to a fixed rate and the resulting monthly payment may be higher than your variable rate. When your fixed rate term ends, any unpaid balance reverts back to the current variable rate. Once you've locked a portion of your loan, you can still use the rest of your available credit at any time during the draw period. As you pay down the fixed rate balance, those funds become available again during the draw period.

The terms of your fixed rate advance will determine your monthly payment and whether you have an unpaid balance when the fixed rate term ends.

• Fixed rate balances can be either interest-only or principal-and-interest.
• Principal-and-interest payments are available for a maximum 20-year term and will repay your entire fixed-rate balance during the term.
• You may still make additional principal payments at any time, without penalty.*