washington home equity loans

 

Washington Home Equity Loans Equity Loans - Swashington home equity loanspecial Get a fixed rate for the first year on your EquityOne Line of Credit! A Peoples EquityOne loan combines the best of both worlds: the convenience and flexibility of a home equity line of credit, plus the option to fix portions of your line as a term loan. As a line of credit, you can make advances when and how you wish and you only make payments on the amount advanced. Special, no closing costs offer Interest may be tax-deductible *Please consult your tax advisor. Fixed and variable rate options Quick credit approval - drop by your nearest branch or for your convenience apply online! Line of Credit Rates   EquityOne Term Loans Enjoy the flexibility to convert all or a portion of your EquityOne line of credit into a term loan – up to your credit limit. There is no need to reapply each time you need a loan, and little or no paperwork is required to set up subsequent term loans.   Utilize up to three outstanding term loans at any time. As you pay back principal on the fixed or variable rate portions of your loan, your available credit increases again. One combined monthly statement shows both your credit line and your term loan activity. Term Loan Option Rates   Click here for a listing of Peoples Bank Registered (NMLS) Mortgage Professionals. Introductory Rate:  The initial Annual Percentage Rate (APR) shown is for new EquityOne applications received on or before February 29, 2016 and remains in effect one year from the account open date with standard pricing thereafter. Standard Pricing: Peoples EquityOne line of credit interest rate is based on the “Prime Rate” as published in the Wall Street Journal plus a margin that varies based upon the borrower’s credit history. The margin amount will be either +.5%, +1.0% or +1.5%. The floor rate for new lines is the initial rate with a ceiling of 18. The rate is variable and may be higher in the future. Prime Rate is currently 3.5%. Sample monthly payment on a $25,000 home equity line of credit at 3.75% APR is $78.13. By paying your minimum monthly payment (interest only) you will not repay any of the principal balance. At the time of the 240th payment, a balloon payment in the amount of the entire principal balance will be due. The pre-payment penalty for this account if loan is closed within the first 24 months is 2% of the credit limit ($500 max.) All loans subject to credit approval. The introductory rate and no-closing costs offer is based on owner-occupied, single family residence for loans under $250,000 with automatic payments from a checking or savings account. Property insurance is required. No Closing Costs offer is based on use of automated valuation service; appraisal, if needed, is paid by borrower. The annual fee is waived for the first year; thereafter, $75 annual fee is waived for customers with a Peoples Bank personal checking account in good standing. View the EquityOne disclosure for complete product details.