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 1.99%/2.24% after the first year Prime or Prime plus .25% which is currently 3.25%/3.50% Intro 1.99%/2.24% after the first year Prime or Prime plus .25% which is currently 3.25%/3.50%

Rates are effective as of 6/01/2021

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Rates and terms are subject to change without notice.

For Home Equity Line of Credit

Intro Rate is 1.99% for one year if a Draw of at least 10% of the Line of Credit amount is taken at closing. Otherwise, Intro Rate is 2.24% 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, or Prime plus 0.25% for Investor Properties. We will not make HELOCs on Investor Co-ops. If CLTV is greater than 65%, Rate is Prime plus 0.25%. All rates can change monthly. Maximum APR is 10.99%. 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.