Heritage Bank Home Equity Loans

The Right Bank Makes a Difference

Home Equity Loan Rates

Home Equity Loans As of November 1, 2024	APR (Annual Percentage Rate)*	Monthly payments*	Balloon at maturity*
61 Month Balloon/10 Year Amortization - Maximum LTV 90%	8.287%	$118.71	$5,962.12
61 Month Balloon/15 Year Amortization - Maximum LTV 90%	8.721%	$95.58	$7,930.66

Fixed Rates APR

*Payment and Balloon at maturity are based on a 61 Month fixed rate balloon note for a loan amount of $10,000.

* Rate may vary based on credit score, type of loan and term, and is subject to change without notice. Property Insurance is required. Consumer will pay title search, flood search, recording fees and property valuation, when applicable. All loan applicants must be at least eighteen (18) years of age. Rates are subject to change without notice.

	Variable Rate Home Equity Line of Credit As of November 1, 2024
	TERM	Initial Annual Percentage Rate (APR)#
	60 Months	7.75%

Terms of Home Equity Lines of Credit:

Minimum loan amount is $5000.
Closing costs in the range of $450 to $1,000 may be charged on these lines of credit.
The minimum credit advance is $500.
If only minimum payments are made, you will have a balloon payment due at maturity.
All loans are subject to credit approval.
On the variable rate home equity line of credit, the Index during the draw and repayment period is Prime Rate as published in the Wall Street Journal plus a margin of 1.5%. #The initial rate will remain in effect for the first two (2) years of the term. The current fully indexed rate is 8.50%. After the initial rate term, the minimum interest rate on this line is 6.00%, with a maximum interest rate that could be charged being 15%.
Rates are subject to change without notice.
All loan applicants must be eighteen (18) years of age.
Flood insurance and hazard insurance may be required.
The interest on qualified loans may be tax deductible depending on your financial situation. Contact your tax advisor to calculate if the interest is tax deductible.

For specific rate and term quote, please contact our lending staff at one of our 3 locations.

Marion | Delhi | Hiawatha

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