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SearchHome Equity Loan
Purchasing and maintaining a home is a significant investment, but its value can be to your benefit when you need extra cash. Borrow from the equity that has been established in your home to finance a major expense. Low, fixed rates are available at a variety of terms.
Features Content
- Pay a fixed rate
- Terms of 5, 10, and 15 years
- Can be used for home renovation, financing a college education, restructuring debt and more
* Initial one time draw. Amortized monthly automatic payment deductions from an Iron Country Checking Accounts is required. Loan must be at least $25,000 new money. Loans are subject to a $150 origination fee. On loans 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 price at 1/4% above the posted rates. The Bank’s credit criteria apply. Any origination fees quoted are for portfolio loans only. Sold mortgages will have a higher origination fee.
Current Rates Content
Fixed Home Equity NY
Effective Date: Wednesday, September 20, 2017
| Product | Origination Fee | Interest Rate | APR | Payment Per $1,000 |
|---|---|---|---|---|
| 5 Year Fixed Rate Home Equity | $150 | 3.750% | 3.830% | $18.30 |
| 5 Year Fixed Rate Home Equity - JUMBO | $150 | 4.000% | 4.008% | $18.42 |
| 10 Year Fixed Rate Home Equity | $150 | 4.200% | 4.243% | $10.22 |
| 10 Year Fixed Rate Home Equity - JUMBO | $150 | 4.450% | 4.454% | $10.34 |
| 15 Year Fixed Rate Home Equity | $150 | 4.500% | 4.543% | $7.65 |
| 15 Year Fixed Rate Home Equity - JUMBO | $150 | 4.750% | 4.780% | $7.78 |
Fixed Home Equity CT & MA
Effective Date: Wednesday, September 20, 2017
| Product | Origination Fee | Interest Rate | APR | Payment Per $1,000 |
|---|---|---|---|---|
| 5 Year Fixed Rate Home Equity | $150 | 3.500% | 3.580% | $18.19 |
| 5 Year Fixed Rate Home Equity-JUMBO | $150 | 3.750% | 3.758% | $18.30 |
| 10 Year Fixed Rate Home Equity | $150 | 3.950% | 3.992% | $10.10 |
| 10 Year Fixed Rate Home Equity-JUMBO | $150 | 4.200% | 4.204% | $10.22 |
| 15 Year Fixed Rate Home Equity | $150 | 4.250% | 2.280% | $7.52 |
| 15 Year Fixed Rate Home Equity-JUMBO | $150 | 4.500% | 4503% | $7.65 |