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) 2.24% 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%), adjusted monthly. Min. APR is 4.25%, Max APR is 18%. The APR is a variable rate adjusted monthly equal to the highest Prime Rate listed in the Wall Street Journal on the last business day of each month and is subject to change.|
|Payment:||Draw Period – the greater of 1/4 of 1% of the principal 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.|
|Other:||State required recording fees. Hazard and Title Insurance may be required. Flood insurance and Property Appraisal fee required where necessary. All Equity Lines subject to $50.00 annual maintenance fee. Offer available on new lines on owner occupied 1-4 family properties. Maximum 80% combined loan-to-value. Other terms and conditions may apply. Consult your tax advisor regarding tax deductibility.|
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.
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