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

Interest Only/Variable Home Equity

80%

Start rate is 4.00% for the first year.  

Then rate is Prime plus 0% adjusted monthly
(Minimum Rate is 4.00%)

4.00%

Interest Only for the first 10 years, then payment is 1/120th of principal balance at the end of the Interest Only period plus interest.

Minimum payment is $50. Borrower has option to take fully amortized fixed rate/fixed term draws (min $2,500 draw) for 3,5,7 or 10 years. Fully amortized payment is in addition to scheduled payment.


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* APR = ANNUAL PERCENTAGE RATE. Maximum APR is 18.00%. Effective 6/26/17 New York Prime Rate is 4.25%.
** LTV is Loan to Value - what you can borrow against the assessed value of your property.
*** After the initial 12 month promotional period, the rate will never be less then 4.00% regardless of the Prime Rate.

 
Zero points and no origination fees. Androscoggin Bank pays the first $525 in closing costs. Borrower is responsible for all aggregate closing costs exceeding $525.