All loans subject to credit approval
THERE ARE NO APPLICATION FEES OR CLOSING COSTS FOR LOANS UP TO $250,000
HOME EQUITY LINE OF CREDIT
Rates as of Tuesday, October 16, 2018 | ||
| Interest Rate | APR | Apply |
| Without Auto-deduct: Rate is equal to Prime rate for the life of the loan with a MAXIMUM ANNUAL PERCENTAGE RATE (rate cap) of 18%. The current rate in effect using the index plus the margin is the current Prime Rate of 5.250%. Rate can vary monthly. | ||
| 5.250% | 5.250% | |
| With payment automatically deducted from you LBC checking account: Rate is equal to Prime rate -.50% for the life of the loan with a MAXIMUM ANNUAL PERCENTAGE RATE (rate cap) of 18%. The current rate in effect using the index plus the margin is the current Prime Rate of 5.250% minus .50% = 4.750%. Rate can vary monthly. | ||
| 4.750% | 4.750% | |
This is a variable rate loan with a ten-year draw period during which payment of interest only monthly is required followed by a principal and interest repayment period of fifteen-years. There is a $35.00 Annual Fee (waived the first year.). Rate can vary monthly. There is a prepayment penalty of $200 if the loan is paid off (closed) within 24 months of the contract date. Loan available only for single family owner-occupied homes and approved condominiums; not available on properties listed for sale. Property insurance is required. Flood insurance may be required. An appraisal fee may apply under certain circumstances. Minimum loan amount is $10,000. Loan amounts exceeding $250,000 will be considered on an exception basis. First or second lien position is required. NY & MA residential properties and loans over $250,000 may incur closing costs.
FIXED RATE HOME EQUITY LOAN
Rates as of Tuesday, October 16, 2018 | ||
| Interest Rate | APR | Apply |
| Home Equity Fixed Rate - 5 Year Term | ||
| 3.875% | 3.875% | |
| Home Equity Fixed Rate - 10 Year Term | ||
| 4.500% | 4.500% | |
| Home Equity Fixed Rate - 15 Year Term | ||
| 4.875% | 4.875% | |
| Home Equity Fixed Rate - 20 Year Term | ||
| 5.125% | 5.125% | |
| Home Equity Loan Special - New Money Only or $20,000 new money for existing customer. Payment must be automatically debited from your LBC Checking Account. Must be 1st lien position. | ||
| Home Equity Fixed Rate Special - 5 Year Term | ||
| 3.625% | 3.625% | |
| Home Equity Fixed Rate Special - 10 Year Term | ||
| 4.250% | 4.250% | |
| Home Equity Fixed Rate Special - 15 Year Term | ||
| 4.625% | 4.625% | |
| Home Equity Fixed Rate Special - 20 Year Term | ||
| 4.875% | 4.875% | |
The payment example above does not include amounts for taxes and insurance premiums (if applicable) and, if the credit is secured by a first lien, the actual payment obligation may be greater. First or second lien position is required. Loan available only for single family owner-occupied homes and approved condominiums; not available on properties listed for sale. Property insurance is required. Flood insurance may be required. An appraisal fee may apply under certain circumstances. Minimum loan amount is $10,000. Loan amounts exceeding $250,000 will be considered on an exception basis. Requests for Home Equity Loans that are an exception to policy may be upcharged a standard .625% over the published rate. Maximum Total Loan to Value is 80%. NY & MA residential properties and loans over $250,000 may incur closing costs.
ALL RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE
