Home Equity Line of Credit Promotion During July 2015:
Enjoy a 2.75% intro APR for 6 months then a variable APR of 4.25%-5.25%
APR = ANNUAL PERCENTAGE RATE. PROMOTIONAL OFFER IS AVAILABLE THROUGH JULY 31, 2015. The introductory APR of 2.75% is available on new home equity lines of credit (HELOC) only with a combined loan-to-value (LTV) ratio of 90% or less. This limited time offer is not available to refinance an existing BankLiberty HELOC. The initial 2.75% APR is fixed for six months from the date of loan closing and is not based on the index and margin used in the subsequent variable rate feature. At the conclusion of the six month period, the rate becomes a variable rate and is subject to changes in the index. Our index is the Prime Rate, which is found in the “Money Rates” column of The Wall Street Journal and is 3.25%, as of June 11, 2015. Using that as the basis, the estimated variable rate could be: LTV (80% or less) = Prime + 1.00 (4.25% APR). LTV (81 – 90%) = Prime + 2.00 (5.25% APR). The variable rate can change monthly, but will not exceed 18.00% APR during the loan term. BankLiberty requires a minimum HELOC loan amount of $5,000.00 with a maximum amount of $200,000.00. A security interest is taken in the borrower’s principal residence and hazard insurance is required on the property. At loan closing, borrower will pay a $75.00 Processing Fee along with any third party closing costs. This promotion is not an offer of credit. It is subject to BankLiberty’s established credit approval standards.
Home Equity Line of Credit:
You Supply the Dream, We’ll Supply the Loan
The equity in your home can be a great source of instant financing for major purchases. With our Home Equity Credit Line, you can write a credit line check for a car or truck, a boat, make a down payment on your next home or an investment property — in short, anything you need. Your interest rate will be lower and the interest is usually tax-deductible*.
- Lower interest rate
- Borrow up to 90% of your home’s value with no fees
- Option: Pay interest only (Minimum payment of $50/month)
- In most cases, interest is tax deductible*
- When you have a BankLiberty checking account, you can make online payments to your Home Equity account, or get an online advance into your checking account.
*Please consult your tax adviser regarding the deductibility of interest for home equity loans.
**You may be responsible for mortgage registration tax or other such fees imposed by your state of residency.
Contact your nearest branch for more information.