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Let the equity in your home work for you! Make home renovations, pay for college tuition, help pay for your dream vacation, or pay off high interest credit cards and debts.
Variable Rate Revolving Line Of Credit Mortgage
Marblehead Bank NMLS #417751
† Annual Percentage Rate (APR) may increase after consummation of loan.
The MAXIMUM APR that can apply is 18.00%. APR is variable and subject to change.
Rate can change without notice.
Subject to credit approval.
Property insurance is required.
*Up to $585.43 of closing costs are paid by Bank if the credit line is $25,000 or greater. Additional closing costs estimated to be between $75 - $1,275 may apply.
Loan termination fee if line is closed within three years after commencement date.
If first mortgage and HELOC exceeds 80% of initial property valuation of a single family dwelling or exceeds 75% of initial property valuation of a multi-family dwelling or condominium, an appraisal by an approved bank appraiser will be required.
1Home Equity Line of Credit account has an APR that is based on Prime Rate as published in the Wall Street Journal money rates section. Prime Rate is currently 4.750%.
2 Home Equity Line of Credit account has an APR that is based on Prime Rate as published in the Wall Street Journal money rates section minus a margin of .50%.
Prime Rate is currently 4.750% as of October 31, 2019. Available when loan payment is automatically deducted from a Marblehead Bank checking or statement savings account. Establishment of Marblehead Bank Account and Automatic Payment Authorization are required prior to or at HELOC account opening.
Lets you use the equity in your home while enjoying the predictability of fixed payments. Your fixed rate won’t change for your selected term.
For more information about equity loan products, contact a member of the Marblehead Bank's Lending Team at 781-631-5500.
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