Putting your home to work for you.
A Home Equity Line or Loan can be used for home improvement, education expenses or debt consolidation at rates generally lower than other financing options. Connecticut properties only.
Home Equity
Home Equity Lines of Credit (HELOC)
Access all or part your approved line by simply writing a check.
Line amounts are from $15,000 to $250,000.
Fixed Rate Home Equity Loans
Your rate and monthly payment remain the same for the life of the loan.
Loan amounts are from $15,000 to $250,000.
Loans and Lines are subject to application and approval. Connecticut properties only.
What is the rate and Annual Percentage Rate (APR) for Home Equity Line of Credit?
For the life of the loan, the rate will be Prime Rate as published in the Wall Street Journal + 0.000% (currently 8.50%), subject to increase. Under no circumstance, however, will the rate ever be less than 0.000% per annum.
What are the terms for Home Equity Line of Credit?
10-year draw period followed by a 20-year amortized repayment period. Minimum monthly payments will be equal to the interest due for each month during the draw period. During the repayment period, the minimum payments will be equal to accrued interest for the monthly billing cycle plus a fixed principal component. Minimum monthly payment will be based on interest due.
What are important things to know about Home Equity Line of Credit?
The interest rates and annual percentage rate (APRs) shown above are subject to change without notice. The actual interest rate offered is based on your credit history, the term of your loan, your debt to income ratio and the percentage of remaining equity in your home. Your APR will vary based on your final loan amount and actual finance charges. Checks must be written in a minimum amount of $500. Consult your tax advisor about deductibility. Adequate homeowner's insurance coverage is required. An appraisal fee of $475 will be collected for any line request greater than $250,000.
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. You will be required to pay real estate taxes and homeowner's insurance even if there is no escrow account.
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. You will be required to pay real estate taxes and homeowner's insurance even if there is no escrow account.
What is the rate and Annual Percentage Rate for Home Equity Loans?
At a 9.750% Interest rate the Annual Percentage Rate for this loan type is 9.876%. The monthly payment schedule would be 120 payments of $980.78. The payment schedule is based on a $75,000 loan.
What are the terms for Home Equity Loans?
The Home Equity Loan is 10-year fixed rate loan.
What are important things to know about Home Equity Loans?
The interest rate and annual percentage rate (APR) shown above are subject to change without notice. The actual interest rate offered is based on your credit history, the term of your loan, your debt to income ratio and percentage of remaining equity in your home. Your APR will vary based on your final loan amount and actual finance charges. There will be a prepayment penalty equal to 2.00% of the outstanding principal balance at the time of the repayment, if your Home Equity Loan is paid in full in the first two years. Consult your tax advisor about deductibility. Adequate homeowner's insurance coverage is required. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. You will be required to pay real estate taxes and homeowner's insurance even if there is no escrow account.