Rates, terms and conditions are subject to change at any time without notice. Other terms and conditions apply. Please contact your local branch for more details and full loan disclosure information.
*If the line of credit is closed within three years of opening you must reimburse us certain fees we pay to third parties in connection with its opening. These fees are generally between $250 and $400 for accounts within Pennsylvania, Connecticut, and Massachusetts. In New York, the fees will generally be between $400 and $2,900 for lines from $25,000 to $250,000. Depending on the unique nature of your property or application, other costs, such as flood or title insurance, may be required. Consult your loan officer for more detail.
The corresponding APR for future variable rate advances within the UltraFlex Home Equity Line of Credit line may vary from one billing cycle to the next based on changes to the Prime Rate but will not exceed 15.9% or or fall below 2.99%. Effective 7/22/13, current variable rates are Prime Rate plus 0.49% for lines above $25,000 in Pennsylvania, Connecticut and Massachusetts and Prime plus 0.74% for lines above $25,000 in New York.The Prime Rate for any billing cycle will be the highest Prime Rate published by The Wall Street Journal in its ‘money rates’ table for our last business day of the month before the month in which the billing cycle begins. Rate Details
Finance charges will begin to be earned on any outstanding variable rate advance on the day it is posted to the variable rate portion of your account. Beginning with the 13th billing cycle and every 12th billing cycle after that, while you may obtain variable rate advances, you must pay an annual fee of $50 if at the end of the billing cycle the total of all outstanding variable rate advances and all outstanding principal of fixed-rate loans is less than 25% of the credit limit for your line of credit. You must carry hazard (and flood, if applicable) insurance on the property that secures the line of credit. A fee of $50 applies for each fixed rate option advanced post-closing.
**Example: The monthly payment for a fixed rate home equity loan of $25,000 with an APR of 5.74% repayable in 120 months would be $274.30. The monthly payment for a fixed rate home equity loan of $50,000 with an APR of 5.99% repayable in 180 months would be $421.66. The monthly payment for a fixed rate home equity loan of $75,000 with an APR of 7.99% repayable in 240 months would be $626.86.