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Variable Rate Home Equity Line of Credit
Variable Rate Home Equity Line of Credit
| Interest Rates are effective as of May 13, 2008. |
Check out our full line of Variable Rate Home Equity Lines of Credit including our One Year Adjustable Line of Credit and our new Equity Select - a Variable Rate Home Equity with a Fixed Rate Payment option.
Equity Select Annual Percentage Rates (APR)
Variable Rate Option: | Line | APR* | Intro APR ** | Current APR | | $15,000 - $29,999 | Prime + .95% | 2.99% | 5.95% | | $30,000 - $49,999 | Prime + 0% | 2.99% | 5.00% | | $50,000 - $149,999 | Prime - .50% | 2.99% | 4.50% | $150,000 - $250,000** | Prime - .75% | NA | 4.25% |
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Click here to Return to Current Rates Variable Rate: *Prime equals the highest rate identified by the Wall Street Journal as the prime rate in its table entitled "Money Rates" as of the monthly determination date in the agreement. The Prime Rate in effect on 04/30/08 is 5.00%. Introductory rate is available for the first three months, afterwards the rate reverts to the APR listed above. This rate may vary monthly. Your line is secured by a mortgage on your home and property insurance is required. If your line of credit is paid and your home equity mortgage is discharged within four years of origination, closing costs must be returned to the Bank.
**Introductory Rates are not available on Jumbo lines from $150,000 to $250,000. There will be a $99.00 annual fee billed to you on the anniversary of our loan.
Consult a tax advisor regarding deductability of interest.
Fixed Rate Option ll :
Term | APR*** | | | 5 Years | 6.25% | | 10 Years | 7.00% | | | 15 Years | 7.25% | |
Fixed Rate: *** A monthly payment of $194.49 for a $10,000 loan is based on a five year repayment schedule. Your line is secured by a mortgage on your home and property insurance is required. If your line of credit is paid and your home equity mortgage is discharged within four years of origination, closing costs must be returned to the Bank. Consult a tax advisor regarding deductability of interest. Annually Adjustable Home Equity
Variable Rate Option: | Line | APR**** | Intro APR **** | Current APR **** | | $15,000 - $250,000*** | Prime + .125% | 2.99% | 5.125% |
Click here to Return to Current Rates
Variable Rate Option: **** Prime equals the highest rate identified by the Wall Street Journal as the Prime Rate in its table listed "Money Rates" as of the monthly determination date in the agreement. The maximum Annual Percentage Rate (APR) will not exceed 16.90%. The introductory rate is fixed at 4.99% for six months following agreement date. The first annual adjustment, and subsequent annual adjustments if any, will be based on the rate in effect on the date the line converts from the introductory rate to the Prime plus .125%. Based on the Wall Street Journal Prime Rate in effect on 04/30/08 the APR for Prime plus .125% is 5.375%. Your line is secured by a mortgage on your home and property insurance is required. If your line of credit is paid and your home equity mortgage is discharged within four years of origination closing costs must be returned to the bank. Consult a tax advisor regarding deductibility of interest. Offer subject to change without notice. Fixed Rate Option II: | Term | APR***** | | 5 Years | 6.25% | | 10 Years | 7.00% | | 15 Years | 7.25% |
Fixed Rate: ***** A monthly payment of $194.49 for a $10,000 loan is based on a five year repayment schedule. Your line is secured by a mortgage on your home and property insurance is required. If your line of credit is paid and your home equity mortgage is discharged within four years of origination, closing costs must be returned to the Bank. Consult a tax advisor regarding deductability of interest. | |
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