| 1. |
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Gather
all your latest mutual fund account statements. You
will need them to build your loan and also to Apply
later.
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| 2. |
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Enter your mutual funds using their names OR their trading symbols.
Enter each individual mutual fund one at a time in the
indicated field and click on the Accept/Review
button. When you have all of your mutual fund names
click on Continue to LoanBuilder.
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| 3. |
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If
you are unsure of a name or symbol then enter the first
letter or two of the symbol or name and click the Accept/Review
button. A list of possible correct fund names will appear.
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Simply check the proper fund (more than one can be checked if you
own others on the displayed list). Then click the Process
Selections button and your Asset Table will appear.
You can repeat this process as many times as you need
to build a complete list of all your securities.
You can also return to this page at any time to add
additional mutual funds. |
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IMPORTANT! It is essential to enter ALL of your mutual funds
when you begin, even if you do not intend on using each
of them as collateral for your loan. LATER, YOU WILL
HAVE THE OPPORTUNITY TO ELIMINATE INDIVIDUAL FUNDS OR
REDUCE YOUR MAXIMUM CREDIT LINE. This will
enable us to deliver to you a quotation for the maximum
amount of your credit line, and provides you with the
greatest flexibility in selecting the terms of your
loan. |
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If
you have entered the correct name or cannot find the
name of your mutual fund on the look up list, then we
do not lend on this fund at this time. Possible reasons
for this could be that your mutual fund may not qualify
for our service. |
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You
can always click on Live Help (below) or call (800)
670-0650
to double check whether we can make a loan on a given
mutual fund. |
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| 4. |
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Enter your exact number of Units owned of each mutual fund. Click
Enter/Change Units and the current price for
your Collateral Value will appear. The
price comes from the prior day that the markets were
open. You will also see your Maximum Credit
Line displayed. |
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| 5. |
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OPTIONAL
Now that you have gotten all your assets into your Asset
List why not save this information for your future use?
It's anonymous, password protected accessible only by
you. Saving your Asset List is not required to proceed.
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| 6. |
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Next decide how much you want for your Credit Line. Than enter
your Initial Check Amount. The Max Payment
displayed is only paid if the entire Credit Line is
requested and used. The Payment displayed depends
on your Requested Credit Line. |
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Your actual payment will vary on a monthly basis according to how
much of the credit line is used and on the current Prime
Rate. (See Loan Documents and read the Line of
Credit Note). You only pay interest on what you
use. |
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If you decide not to request your Maximum Credit Line available
simply change the Requested Credit Line amount
and the LoanBuilder will automatically reduce the required
collateral listed on your Asset List. The LoanBuilder
will eliminate the more volatile collateral first and
since our interest rates are tied to the volatility
of your fund shares you may well see a reduction in
your interest rate. |
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Our
Self-Design LoanBuilder allows you to get exactly the
loan you want at the very lowest possible interest rate
with the monthly payment that fits your budget. |
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| 7. |
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Once you have the loan you want you can Apply or Save
the results anonymously and come back to apply
at your convenience. |
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When you click the Apply button your Loan Documents will be automatically
completed. |
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