If the bank has a floor rate, does that need to be disclosed on the HELOC disclosure. We do state the maximum rate which is 18%. We would like to offer different floors based on credit score. For example, if the credit score is greater than 750 the borrower would qualify for a 4.75%. All others would have a 5% floor.

1026.40(d)(12)(viii) Any rules relating to changes in the index value and the annual percentage rate and resulting changes in the payment amount, including, for example, an explanation of payment limitations and rate carryover.