Lending

The interest rates and annual percentage rates (APRs) shown are subject to change without notice. All Loans are subject to credit approval. Does not include insurance & taxes and payment will be greater if first lien.

Mortgage Home Equity Lines of Credit are revolving lines of credit secured by a mortgage on your home. They can be used for home improvements, college tuition, consolidation of debts, medical expenses, etc. The credit lines generally range from $50,000 to $100,000 and are capped at 80% of the available equity in your home, minus the outstanding principal balance of the 1st mortgage.

^†On the Variable Line of Credit the rate is fixed at 0.99% Annual Percentage Rate for the first three billing cycles only, after that the rate is variable at Prime capped at 18% Annual Percentage Rate with a floor of 4.99%. There are no points, no closing costs, and no appraisal fees unless you request us to use a value different than your town's appraised value.

⁺ Maximum loan amount $417,000. For example a $250,000.00 loan @ 4.461% Annual Percentage Rate for 30 years, no points with a 20% down payment would have monthly payments of principal and interest equal to $1,248.21 Net loan amount would equal $250,000.00, finance charge would equal $199,357.97 and total of all payments would equal $449,357.97. For loans over $417,000 the rate would be 5.50%. For example a $450,000.00 loan @ 5.592% Annual Percentage Rate for 30 years, no points with a 20% down payment would have monthly payments of principal and interest equal to $2,555.05 Net loan amount would equal $450,000.00, finance charge would equal $469,818.71 and total of all payments would equal $919,818.71.

Property insurance is required to open and maintain a Home Equity Line of Credit.

*Prime Rate as of 12/31/08 was 3.250% APR.