Home Equity Rates

*APR = Annual Percentage Rate effective 12/18/2024. 1Your rate will adjust monthly based on the Prime Rate as published in the Wall Street Journal on the last business day of the month minus 1/2%. The current Prime Rate is 7.75% as of November 29, 2024. The APR is subject to change and may increase after consummation. The maximum APR is 18.000% and the minimum APR is 2.75%. If carrying a loan balance, your minimum payment due will never be lower than $100.00. Property insurance is required, and flood insurance may be required. Subject to credit and property approval. Property must be a 1-to-4 family owner-occupied home. Loan maximum $500,000 with a Loan-to-Value of up to 80% of your homes appraised value. The borrower will be responsible for closing costs of approximately $811.60, which includes the Attorney Fee, Recording Fee, Flood Certificate Fee, MLC Fee, and Credit Report Fee. The Bank will pay for the appraisal on loans up to $400,000. There is a $25 annual fee. $500 prepayment fee if line is closed in the first year. You should consult with a tax adviser about the deductibility of interest and charges paid on your Home Equity Line of Credit. Your monthly payments will be varied and based on the amount you borrow. There is a 10-year draw period and 10-year repayment period. The monthly payment during the draw period consists of 1/2% of 1.000% of the outstanding principal, plus finance charges, you pay finance charges only on the funds that you use; monthly payments of principal and finance charges. Other restrictions may apply. All Interest Rates and program guidelines may change without prior notice. Please contact TSB for details.