Home Equity Lines of Credit

*Home Equity Line of Credit Annual Percentage Rate (APR) is 4.5% and will be based on the Prime Lending Rate as published in the Wall Street Journal and adjusts quarterly. Automatic deduction payment option from Iron Country checking account is required. Prime Rate as of December 19, 2018 is 5.50%. Monthly payment based on $25,000 borrowed. New outstanding balance of $25,000 or more required at closing. If the line of credit agreement is paid down below $25,000 or closed within the first month after commencing, and/or if it is paid off/closed during the 8 year draw period, a prepayment fee of $350 applies. Loans of greater than $50,000 are subject to a $250 origination fee. Title insurance required on loans over $100,000. If not provided, the purchase of title insurance will be required. 1-4 family owner-occupied properties only. Property insurance required. Rates vary by overall credit worthiness and loan-to-value ratio of each applicant. Rates subject to change without notice. All New York state loans involving a lien on real estate will prices at 1/4% above the posted rates. The bank's credit criteria apply. Minimum APR 3%, Maximum APR 18% - with Iron Country Banking relationship and new outstanding balance. Subject to a Minimum of 3% and a Maximum of 18% over the life of the loan. Any origination fees quoted are for portfolio loans only. Sold loans will have a higher origination fee.