Home Equity Rates
|Home Equity Type||Term||APR***|
|Home Equity Installmentº*
(up to 90% property value)1
|Up to 15 years||3.99% - 6.50%|
|Home Equity Line of Credit+
||Up to 25 years.10-year draw period and up to 15-year repayment period.||4.00% - 12.00% (variable rate)|
|No Equity Home Improvement Loanoo||Up to 60 months||7.50%|
1. Some housing exceptions may apply.
oPayment example: On a $20,000.00 loan with a 5 year term up to 90% property value at 3.99% APR, monthly payments would be $368.25. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000.
ooMaximum loan amount is $25,000. A minimum credit score of 680 is required to obtain this loan. Offer is subject to normal credit qualifications. Payment Example: On a No Equity Home Improvement Loan with a term of 5 years at 7.50%APR, monthly payments would be $500.95.
*Actual rate based on applicant's payment and credit history. Additional appraisal fee may apply should one be needed.
+Minimum Annual Percentage Rate (APR) Floor of 4%. Maximum APR is 12%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal. Required payments are calculated at 1% of the outstanding balance. Maximum loan amount is $350,000 with a 10-year draw period and up to 15-year repayment period. Minimum credit score of 660 is required. Properties must be owner-occupied. Eligible property types include SFD and Townhomes (up to 90%), and condos (up to 80%); Not eligible for multi-family properties. Some housing exceptions apply. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000.
***APR= Annual Percentage Rate.