Home Equity Line of Credit Rates
| Max. Loan Amount | Term (Months) | Rate | Annual Percentage Rate |
|---|---|---|---|
| $700,000 | 120 month draw period, 240 month repayment period | Intro 5.49%/5.74%. After the first year Prime or Prime plus .25% which is currently 6.75%/7.00% | Intro 5.49%/5.74%. After the first year Prime or Prime plus .25% which is currently 6.75%/7.00% |
Rates are effective as of 3/5/2026
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Rates and terms are subject to change without notice.
For Home Equity Line of Credit
Intro Rate is 5.49% for one year if a Draw of at least 10% of the Line of Credit amount is taken at closing. Otherwise, Intro Rate is 5.74% for one year. Base Rate is determined by Combined Loan to Value ratio. If CLTV is 65% of less, Rate is Prime plus 0.00% for Primary, Secondary, Coops and Condos. If CLTV is greater than 65%, Rate is Prime plus 0.25%. All rates can change monthly. Maximum APR is 16.99%. Loan products and services subject to credit approval. Ridgewood Savings Bank will pay the mortgage tax and recording fees, generally between $175.00 and $12,570, subject to reimbursement on early termination. Property Insurance will be required.