Home Equity Line of Credit Rates
Effective 5/1/2020
Our “FIXED FOR FIVE” Home Equity Line of Credit has an initial rate of 2.75%APR* for the first five years and adjusts twice annually with Prime Rate.**
Minimum Loan $10,000 – Maximum Loan $150,000
Maximum LTV for all Mortgages Against the Property is 80%
Draw Period – 10 Years – Repayment Period – 20 Years
| TERM | RATE/APR | MAX LTV |
| Years 1-5 | 2.75% | 80% |
| Years 6-20 |
Prime Rate**(3.25%APR as of 5/1/20) Varies twice yearly on January 1st and July 1st with Prime Rate. |
80% |
*APR = Annual Percentage Rate. All loans subject to credit approval, home eligibility, minimum and maximum loan amounts, and LTV stipulations.
**Prime rate, as published in the Wall Street Journal, currently 3.25%. Rates subject to change without notice. Rate not to exceed 17.99%.
NMLS #585840 Equal Housing Lender