Thursday March 11th, 2010

Watertown Savings Bank

Thursday, March 11, 2010

Home Equity Loans

Loan Type APR Maximum Loan Down Payment Monthly P&I per $1,000
Home Equity Line of Credit** 4.00% $250,000 n.a. Rate is variable, 1% below prime for first 12 months, then prime rate thereafter. Minimum APR 4.00% Maximum APR 18.00%
Home Equity 5 Year Loan 6.375% $100,000 n.a. $19.51
Home Equity 10 Year Loan 6.625% $100,000 n.a. $11.42
Home Equity 15 Year Loan 6.875% $100,000 n.a. $8.92

APR is Annual Percentage Rate. 

Property Insurance is required on home equity lines of credit and home equity loans. 
Contact your tax or financial adviser regarding deductibility for tax purposes.
Rates are subject to change without notice.
Subject to Credit Approval.

**10 year draw plus 5 year payback 
Rate on Home Equity Line of Credit is variable equal to the Prime Rate as listed in the Wall Street Journal at the beginning of the billing cycle.  Maximum 80% combined loan-to-value.  
Minimum APR is 4.00%, Maximum APR is 18%.  
Home Equity Line of Credit rates based on credit score of 740 or higher.  If the minimum score is not met, the rate will be increased by .50%. 

Home Equity Loans (not Line of Credit) less than $15,000 are subject to a $300 application fee.  
Home Equity Loan rates based on credit score of 740 or higher.  If the minimum score is not met, the rate will be increased by .25%.  
Rates on Home Equity Loans are .125% higher when monthly payments are not withdrawn from Watertown Savings Bank account.

 

Deposits Fully Insured!

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