APR (Annual Percentage Rate) listed are autopay rates. Add .125% if monthly payment is not automatically withdrawn from a WSB account.
Property Insurance is required on home equity lines of credit and home equity loans.
Contact your tax or financial adviser regarding deductibility for tax purposes.
Rates are subject to change without notice.
Subject to Credit Approval.
**10 year draw plus 5 year payback
Rate on Home Equity Line of Credit is variable equal to the Prime Rate as listed in the Wall Street Journal at the beginning of the billing cycle. Maximum 80% combined loan-to-value. Minimum APR is 4.00%, Maximum APR is 18%. Home Equity Line of Credit rates based on credit score of 740 or higher. If the minimum score is not met, the rate will be increased by .50%.
If applying for an increase on an existing home equity line of credit, you will be required to pay costs incurred by the bank to record the mortgage. These may range from $375 to $700.
Home Equity Loans (not Line of Credit) less than $15,000 are subject to a $300 application fee.
Home Equity Loan rates based on credit score of 740 or higher. If the minimum score is not met, the rate will be increased by .25%.
Rates on Home Equity Loans are .125% higher when monthly payments are not withdrawn from Watertown Savings Bank account.