Home Equity Line of Credit Rates
| Max. Loan Amount | Term (Months) | Rate | APR |
|---|---|---|---|
| $500,000 | 60 month draw period, 180 month repayment period | 3.50%/3.75% | 3.50%/3.75% |
Rates are effective as of 7/31/2020
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Rates and terms are subject to change without notice.
For Home Equity Line of Credit:
Rate is determined by Combined Loan to Value ratio. If CLTV is 65% or less, Rate is Prime plus 0.25%. If CLTV is greater than 65%, Rate is Prime plus 0.50%. All Rates can change monthly. Maximum APR is 7% over Initial Rate.
Loan products and services subject to credit approval.
Ridgewood Savings Bank will pay the mortgage tax and recording fees, generally between $175.00 and $9,147.00, subject to reimbursement on early termination.
Property Insurance will be required.