Home Equity Line of Credit | Variable Rate
|
Product
|
Interest Rate
|
APR*
|
Payment per $1,000
|
Additional Info
|
|---|
15/15
|
7.000%
|
7.000%
|
Varies
|
Rate will be 1.000% below Prime** for the life of the loan. Floor is 5.000%. 15 year draw/repayment period, followed by 15 year repayment period.
|
10/15
|
7.500%
|
7.500%
|
Varies
|
Rate will be 0.50% below Prime** for the life of the loan. Floor is the start rate. 10 year draw/repayment period, followed by 15 year repayment period.
|
5/15
|
7.750%
|
7.750%
|
Varies
|
Rate will be 0.25% below Prime** for the life of the loan. Floor is the start rate. 5 year interest only draw period, followed by a 15 year principal and interest repayment period.
|
10/10
|
8.000% |
8.000%
|
Varies
|
Rate will be Prime** for the life of the loan. Floor is the start rate. 10 year draw period, followed by 10 year repayment period.
|
15/15 Inv
|
8.500%
|
8.500%
|
Varies
|
1-2 Family Investment Properties; Rate will be 0.50% above Prime** for the life of the loan. Floor is the start rate. 15 year draw/repayment period, followed by 15 year repayment period.
|
First & Second Lien – 1-4 Family (Owner Occupied) Maximum LTV - 80% up to $750,000; 75% for $750,001-$2,000,000; 70% for above $2,000,000
Maximum LTV's for Condos, Planned Unit Developments and Townhouses will be reduced by 5%
*APR= Annual Percentage Rate.
**Based on New York Prime Rate as published in the Wall Street Journal.
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