Lending Services

HOME EQUITY RATES

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, May 23, 2017

Interest RateAPRApply
No minimum draw required: 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 4.000%. Rate can vary monthly.
4.000%4.000%

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 residential properties and loans over $250,000 may incur closing costs.

FIXED RATE HOME EQUITY LOAN

 

Rates as of Tuesday, May 23, 2017

Interest RateAPRApply
Home Equity Fixed Rate - 5 Year Term
3.125%3.125%
Home Equity Fixed Rate - 10 Year Term
3.750%3.750%
Home Equity Fixed Rate - 15 Year Term
4.125%4.125%
Home Equity Fixed Rate - 20 Year Term
4.375%4.375%
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
2.875%2.875%
Home Equity Fixed Rate Special - 10 Year Term
3.500%3.500%
Home Equity Fixed Rate Special - 15 Year Term
3.875%3.875%
Home Equity Fixed Rate Special - 20 Year Term
4.125%4.125%

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 residential properties and loans over $250,000 may incur closing costs.

ALL RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE