Home Equity Loans
All rates are effective as of January 7, 2009.
| Home Equity Loan | Annual Percentage Rate (APR) |
| 1-60 months | 6.49% |
| 61-120 months | 6.99% |
| 121-180 months | 7.24% |
| 240 months | 7.24% |
No down payment is required. The loan amount, which is up to 90% loan to value, depends upon the tax assessment or appraised value and the equity in your primary residence. The interest rate for your loan is based upon your creditworthiness. Minimum loan amount of $3,500 is required. Property insurance is required. Loans may be subject to other fees such as those for flood certification, filing, lien search and/or appraisal.
| Variable Rate Home Equity Lines of Credit (HELCs) | ||
| Annual Percentage Rate (APR) with Minimum Initial Advance of $10,000* | Annual Percentage Rate (APR) with No Minimum Initial Advance of $10,000* | |
| 4.00% | 4.00% | |
No down payment required for these types of loans. The credit line amount depends upon the appraised value and equity in your primary residence. The interest rate for your line is based upon your creditworthiness. Loans may be subject to other fees such as those for filing, flood certification, lien search and/or appraisal. For variable rate HELCs, the minimum APR is 4.00% and the maximum is 18.00%. Property insurance is required.
*For variable rate HELCs, when an initial advance of $10,000 is taken, the APR may increase or decrease monthly on the billing date. It is equal to The Wall Street Journal Prime Rate, but will never be lower than 4.00%. As of December 17, 2008, the APR based upon The Wall Street Journal Prime Rate was 3.25%. When an initial advance is not taken, the APR may increase or decrease monthly on the billing date and is equal to The Wall Street Journal Prime Rate, but will never be lower than 4.00%. As of December 17, 2008, the APR based upon The Wall Street Journal Prime Rate was 3.25%.
| Fixed Rate Home Equity Lines of Credit (HELCs) | ||||
| Three-Year Fixed HELC | Five-Year Fixed HELC | |||
| Annual Percentage Rate (APR) with Minimum Initial Advance of $10,000* | Annual Percentage Rate (APR) with Minimum Initial Advance of $5,000* | |||
| 6.24% | 6.24% | |||
No down payment required for these types of loans. The credit line amount depends upon the appraised value and equity in your primary residence. The interest rate for your line is based upon your creditworthiness. Loans may be subject to other fees such as those for filing, flood certification, lien search and/or appraisal. For fixed rate HELCs, the minimum APR is 4.00% and the maximum APR is 18.00%. Property insurance is required. An application fee of $50 is assessed.
*For fixed rate HELCs, the APR is fixed for the first three or five years, and then converts to a variable rate. The APR may increase or decrease monthly on the billing date and is equal to The Wall Street Journal Prime Rate, but will never be lower than 4.00%. As of December 17, 2008, the APR based upon The Wall Street Journal Prime Rate was 3.25%.
For current Commercial Loan Interest Rates, please contact a commercial loan officer at (717)334-3161 or toll free (888)334-2262.
Click here for our calculators.
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