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Home Equity Fixed Rate Loan

Borrow a fixed sum at a fixed rate. Funds are disbursed in a single increment and then the loan is repaid over a set period of time.

Details
  • Funds given as a lump sum
  • Varying repayment terms
  • Payment and interest rate remain the same over the life of the loan
  • Rates usually much lower than that of a credit card or other consumer loan
  • Interest may be tax-deductible (consult your tax advisor or accountant)
Current Rates

Effective Date: Tuesday, June 18, 2019

Fixed Rate Home Equity

Loan TypeMaximum TermLoan to ValueAnnual Percentage Rate (APR)
Fixed Rate Home Equity+Up to 20 yrsUp To 90%Call for details

+ Closing costs may range from $150.00 to $1,000.00.

Home Equity Line of Credit

A home equity line of credit (HELOC) gives you a maximum amount to draw against, rather than a fixed lump sum. It features a variable interest rate and offers you the flexibility to borrow, pay down, and borrow again - so long as you stay in good standing with the loan.

Details
  • You may borrow and repay up to the approved credit limit as needed for the given draw period
  • Interest paid on your line may be tax-deductible (consult your tax advisor or accountant)
  • The interest rate is tied to the prime rate and will only change as the prime rate adjusts
  • Interest only payment option available
Current Rates

Effective Date: Tuesday, June 18, 2019

HELOC Rates

Loan TypeMaximum TermLoan to ValueAnnual Percentage Rate (APR)
Home Equity Line of Credit**** + XXopen end^^Up To 80%as low as 5.25%
Home Equity Line of Credit**** + XXopen end^^Up To 90%as low as 5.75%

****  Home Equity Line of Credit rate is subject to change monthly on existing loans and is based on being .25% below (or .25% above for up to 90% Loan to Value) the Wall Street Journal Prime rate listed on the 15th day of the previous month.  Prime Rate as of 09/27/2018 is 5.50%.

+ Closing costs may range from $150.00 to $1,000.00.

^^ The number of years it will take to pay off a loan. The loan term is used to determine the payment amount, repayment schedule and total interest paid over the life of the loan. For example, a loan of $50,000 with an 8.25% APR for 15 years would have 180 monthly payment of $487.22 each and total interest paid of $37,698.21.

XX There are no minimum, fixed, transaction or activity charges.  The maximum interest rate is 18.00%

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