Home Equity Line of Credit
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Term |
APR |
10 Year Draw, 15 Year Repayment. |
7.75%1 |
1Rates are accurate as of Today's Date (Do Not Delete). The Annual Percentage Rate (APR) will be variable based on the highest Prime Rate published in the Wall Street Journal, as published on the first day of each monthly statement cycle and shall be adjusted on the first business day of each subsequent monthly cycle. The maximum APR is 18%. An early termination fee of $500 will apply if the loan is paid and discharged within 36 months from date of origination. Property insurance is required. Flood insurance may be required. Minimum line amount is $7,500. Maximum loan to value is 80% of the home’s value based on a full appraisal report. Closing costs to be paid by MSB.
You may be required to pay for any inspections and/or valuations related to the property secured by the Home Equity Line of Credit, as deemed necessary by Monson Savings Bank. These fees can range from $100-$575. $105 recording fee to discharge a prior mortgage may be required. For properties held in a trust, any applicable legal and/or recording fees relating to closing the loan in the trust will be paid by the borrower. Not available to existing Home Equity customers. Offer can end at any time without notice. Credit offer is subject to credit approval.
Deposit Rates
Savings and deposit account interest rates are effective as of 12/9/24 and are variable rates that may change after the account is opened without notice. Term IRA and Term Certificate of Deposit (CD) accounts offer fixed rates throughout the term of the account. Substantial penalties may apply for early withdrawal from IRA and CD accounts.
Fees could reduce earnings.
APY = Annual Percentage Yield.