Home Equity Line of Credit Special
|Amount:||$10,000 to $500,000||Loan Purpose:||Home Equity|
|State:||Massachusetts||Property Use:||Primary Residence|
|County:||Middlesex||Property Type:||Existing one to four family home|
Home Equity Line of Credit
|Interest Rate/APR:||Annual Percentage Rate (APR) 1.99% is fixed for the first 12 months. After the introductory period, APR on outstanding balance is variable and based on the Prime Rate plus 0.00% (currently 4.25%), for 1-4 family owner occupied homes as published in the Wall Street Journal, subject to change on the last business day of each month effective with the first day of the following month.|
|Payment:||Draw Period – the greater of 1/4 of 1% of the principal balance plus interest, OR $100.00 minimum.
Repayment Period – the greater of 1/120th of the outstanding balance, plus interest, OR $100.00 minimum.
|Term:||10 years draw period followed by a 10 year amortized repayment period.|
|Balance Due at End of Loan Term:||If you make the minimum monthly payment during the term of your loan on or before the due date, the loan will be paid in full after the repayment period ends.|
The interest rate and annual percentage rate (APR) shown above are subject to change without notice.
Maximum APR 18%.
Consult your tax advisor about deductibility.
Adequate homeowner’s insurance coverage is a requirement for this loan.
Payments do not include taxes and/or insurance.
*Internet email is not a secure medium to send sensitive personal information such as account numbers and/or social security numbers to the Bank. Please remember to keep information provided via email general in nature.