Home Equity Loans
2.99% APR Intro
Introductory APR of 2.99% effective for 6 months and is not based on the index and margin used to make later rate adjustments. Following the intro period, the rate that will apply is variable and can change monthly based on a margin plus the Prime Rate as published in the Wall Street Journal, currently 3.25% (May 21, 2013). A recent margin used is 1.50% making the applicable APR 4.75%. Maximum APR that can apply is 18.00%. Draw period is 60 months with minimum payments of Interest only. Following draw period, repayment period is 120 months. Hazard Insurance required on all loans secured by real property. Early termination fee of $500 if paid off within the first 3 years. Offer of credit is subject to credit approval. Maximum combined loan-to-value 90% on a 1 -4 family owner occupied residence. Consult your tax advisor regarding the deductibility of interest. This offer is available for new loans only. Maximum loan amount of $150,000. Offer available through 12-31-13.
$399 Low Cost Re-Fi promo
Using a standard rate as of May 22, 2013, based on a $100,000 loan amount the applicable APR is 3.727% for 15 years with a monthly payment of $721.04. Payments do not include amounts for taxes and insurance premiums, actual payment obligation will be greater. Maximum loan-to-value 80% otherwise subject to approval of private mortgage insurance. Offer of credit is subject to credit approval. Consult your tax advisor regarding the deductibility of interest. This offer is available for new or existing loans. Refinance of a 1-4 family owner occupied residence only. Offer does not apply to purchase transactions. Offer available through 12/31/13.
You’ve built equity in your home and a home improvement loan allows you to use it for a variety of things. Whether your home or cottage needs repairs, or you would like to pay for your child’s education, NBSB loan officers can help you find the best loan for your needs.
A Home Equity loan can be used for things such as:
- Home Improvement
- and much more!
Call a loan officer today at 269.469.2222 to hear about our low interest rates.
Home Equity Open End
Open end loans are a line of credit that allows you to borrow money when you need it and leaves you with available funds when you don’t.
Credit cards and home equity lines of credit are common examples of open end loans.
Home Equity Closed End
A Closed End Home Equity Loan is when you borrow a specific sum of money and then pay it back in a series of installments.