Effective as of January 4, 2024.
|
Term (in years)
|
10
|
|
Credit Line Amount
|
$10,000 min.
|
|
Rate
|
For Interest Only HELOC, Variable Rate equal to the Wall Street Journal Prime Interest Rate Lifetime Floor of 4.25% Annual Percentage Rate (APR).
|
For your convenience, automatic payments can be transferred from your First Bank checking or savings account.
Requirements, Restrictions and Other Information
- Property insurance, and if applicable, flood insurance must be in effect on property securing the loan.
- All rates are subject to credit availability and are contingent upon standard underwriting procedures.
- Offer and rates are subject to change without notice. Offer is valid for primary residences only.
- Loan to value is based on current credit standing.
- This is a variable interest rate loan and is tied to Wall Street Journal Prime Rate as published in the Wall Street Journal.
- Contact us to determine current Wall Street Journal Prime Rate.
- The minimum monthly payment for a regular HELOC will be 1.25% of the outstanding principal balance on the last day of the billing cycle, or $100, whichever is greater. This monthly payment may change.
- At the end of the 10 year term, a balloon payment may occur. You will be required to pay the entire balance in one payment
- Consult your tax advisor regarding the deductibility of interest.
- The Maximum Annual Percentage Rate (APR) is 24%, and a Lifetime Floor of 4.25% APR.
Closing Costs
*For loans of $10,000 to $250,000.00, First Bank will pay the closing costs on your behalf; however, if your account is closed within two (2) years, we will add any closing costs paid on your behalf to your outstanding loan balance for our reimbursement. Total closing costs generally range from $300 to $900.
CONTACT US LOCATE US
Rates effective as of January 4, 2024.
|
Term (in months)
|
3
|
6
|
12
|
18
|
24
|
30
|
36
|
48
|
60
|
|
Interest Rate
|
0.85%
|
0.99%
|
1.07%
|
1.25%
|
1.48%
|
1.49%
|
1.51%
|
1.52%
|
1.55%
|
|
APY
|
0.85%
|
0.99%
|
1.07%
|
1.26%
|
1.49%
|
1.50%
|
1.52%
|
1.53%
|
1.56%
|
Requirements, Restrictions and Other Information
Minimum opening deposit is $500. Interest accrues daily and compounds quarterly, if added to the Certificate of Deposit balance. The interest rate and Annual Percentage Yield (APY) are effective as of the above listed date. Early withdrawal fees will apply. Fees may reduce earnings and the APY. All rates are subject to change without notice. Please contact a local branch office to confirm current rates and special offers. Separate terms and conditions apply for deposits into the Certificate of Deposit Account Registry Service® (CDARS).
CONTACT US LOCATE US