CLOSED END HOME EQUITY
Using the available equity in your home, this loan allows you to borrow one lump sum amount over a fixed number of months at a fixed interest rate.
Fixed Rate
$5,000 to $9,999 up to 120 months
$10,000 to $74,999 up to 180 months
$75,000 to $250,000 up to 180 months
HELOC (HOME EQUITY LINE OF CREDIT)
Using the available equity in your home, this loan functions like a credit card allowing you to borrow as much or as little as you need within your approved amount.
Variable Rate
Prime + .50% for credit limits of $5,000 to $24,999**
Prime + .25% for credit limits of $25,000 to $74,999**
Prime + 0% for credit limits $75,000 to $250,000**
* APR = Annual Percentage Rate. Maximum 18% APR. All home equity loans are for primary dwelling only. Rate is based on Prime Rate, which is a variable rate, published in the Wall Street Journal. The variable rate APR is as low as Prime +0 % for lines over $75,000, as low as Prime + .25 % for lines of $25,000 to $74,999, and as low as Prime + .50 % for lines of $5,000-$24,999. Please consult your tax advisor about your specific financial situation. An appraisal is required, as well as homeowners insurance and title insurance. Flood insurance is required if applicable. An early termination fee of up to $500 will be applied if the account closes within 24 months.
** All home equity loans are for primary dwelling only. Your actual rate is based on your credit score and equity and may be higher than quoted rate.
