If you have an urge to tackle some home improvements, get organized by consolidating your credit card debt, or plan that long-awaited vacation to mark a special occasion, come talk to us about a Home Equity Loan or Line of Credit that can make these dreams come true!
A Home Equity Line of Credit provides you with a
revolving credit line, much like a credit card, that you can
use only in the increments you need or want. With a home
equity loan, you get a lump sum of cash.
Come in and talk to one of our Lending Specialists to
find out which avenue is best for your situation.
You can apply for a Home Equity Loan or Home Equity Line
of Credit online in just a few minutes.
* The Annual Percentage Rate (APR) of
interest charged is fixed at a discounted rate of 6.75% for
the first 24 months. After that, the rate will adjust monthly
based on the Wall Street Journal Prime Rate, currently at
7.50% APR. The maximum APR of 18.00%. This is a revolving line
of credit with a 10-year draw period. Any outstanding balance
at the end of this period will convert into a term loan for an
additional 10 years. During the draw period, the minimum
monthly payment is the interest on the outstanding balance.
Our program minimum loan amount is $15,000 to a maximum of
$250,000. A $50 annual fee will apply during the draw period.
An early termination fee $500 is assessed if the account is
closed within 36 months of opening. This offer is available
for primary residences only, with a maximum loan-to-value
ratio of 80% of the property valuation or appraised value. An
application fee of $250 is required, and other closing costs
may apply, up to $1,000 if a full appraisal is necessary. All
loans are subject to credit approval, and additional
restrictions may apply. The discounted rate is subject to
change without notice. Other rates and terms are available.
