Home Equity Line of Credit Rates
Today's Rates
Rates subject to change without notice.
Home Equity Line of Credit Rates
Equity Option
|
Max LTV**
|
Rate***
|
APR*
|
Payment
|
5 Years Fixed/10 Years Variable Home Equity
|
80%
|
6.00% Fixed for the first 5 Years then Prime Minus .250% Adjusted Monthly
|
6.00%
|
Interest Only for the first 5/10 years then 1.5% of the outstanding balance.
|
Interest Only/Variable Home Equity
|
80%
|
Prime plus 0% Adjusted Monthly
(Minimum Rate is 4.00%)
|
4.00%
|
Interest Only for the first 5/10 years then 1.5% of the outstanding balance.
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*APR = ANNUAL PERCENTAGE RATE. Maximum APR is 18%. Effective 12/16/08 New York Prime Rate is 3.25%.
**LTV is Loan to Value - what you can borrow against the assessed value of your property.
***Current floor Rate of 4.00% which could be higher than the current prime rate.
Zero points and no origination fees. Borrowers may be required to pay certain fees to third parties such as appraisers and title attorneys. Generally, these fees range from $400 - $600. Prepayment fee of $250 if closed within the first 24 months.
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