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Home Equity Loan Rates

If you are a homeowner and you are looking to make improvements to your home, pay tuition, or finance other expenses, a WSB Home Equity Line of Credit or Home Equity Loan can help you achieve your goals.

 

Monday, December 18, 2017
Term APR Maximum Loan Down Payment Monthly P&I per $1,000
Home Equity Line of Credit* 4.50% $250,000 n.a. Rate is variable. 4.50% APR fixed for 12 months, then prime plus applicable margin thereafter.+
Home Equity 5 Year Loan 4.500% $100,000 n.a. $18.64
Home Equity 10 Year Loan 5.000% $100,000 n.a. $10.61
Home Equity 15 Year Loan 5.250% $100,000 n.a. $8.04

Home Equity Line of Credit (HELOC) rates vary by adding the Prime Rate as listed in the Wall Street Journal at the beginning of the billing cycle to the applicable margin. Minimum line amount is $25,000.00. No minimum draw required at closing. Minimum APR is 4%. Maximum APR is 18%. Maximum 80% combined loan-to-value. HELOC rates based on credit score of 740 or higher. If the minimum score is not met, the rate will be increased by .50%. Loan Origination Fees for all WSB lines normally total between $0.00 and $2,000.00. You must also pay certain fees to third-parties to open a line. These fees generally total between $500.00 and $1,100.00. Early Termination Fee if line is terminated and a request for discharge is made within the first two years. Annual Maintenance Fee of $75.00. We will give you an itemization of fees that you will have to pay to the Bank and to third parties upon request.

Home Equity Loan rates based on a credit score of 740 or higher. If the minimum score is not met, the rate will be increased by .25%. Add .125% when monthly payments not withdrawn from a WSB deposit account. Minimum loan amount is $25,000.00.

Property Insurance is required on HELOCs and HELOANs. Title insurance may be required for first lien HELOCs and HELOANs. Rates are subject to change without notice. Subject to credit approval. Please contact your tax or financial advisor regarding deductibility for tax purposes.

*10-year draw period plus 5-year repayment.

+New lines secured by owner-occupied or second homes only.

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