Home Equity Loan Rates
Home Equity Lines of Credit
| APR* | Term | Minimum APR | Maximum APR | Maximum Combined Loan to Value (CLTV) | Minimum/Maximum Line Amount |
|---|---|---|---|---|---|
| As low as Prime minus 0.50% (Currently 8.00%) | 240 Months | As low as 8.00% | 18.00% | 80% | $10,000/$500,000 |
| As low as Prime plus 1.50% (Currently 10.00%) | 240 Months | As low as 10.00% | 18.00% | 81% - 90% | $10,000/$100,000 |
*Annual Percentage Rate (APR) is a variable rate based on the Prime Rate (as published in the Money Rates section of the Wall Street Journal at the beginning of each monthly billing cycle) minus a margin of 0.50%. The maximum ANNUAL PERCENTAGE RATE that can apply is 18.0%. The minimum ANNUAL PERCENTAGE RATE that can apply is 3.75%. Therefore, the rate will never be lower than 3.75% even if the Prime Rate minus .50% falls below that rate. Current Prime Rate is 8.50% as published in the Wall Street Journal as of July 27th, 2023. Home equity lines of credit are variable rates subject to increase after consummation, adjusting monthly to the Wall Street Prime Rate.
Rates shown above are for borrowers with an Avidia Bank checking account with direct deposit and with the home equity loan payment automatically deducted from the same checking account. If all three of these conditions are not met, add 0.50% to the margin, minimum or floor rate, which increases the effective APR. Annual percentage rates (APRs) shown above are available to borrowers with an excellent credit history. Your actual APR will be based on your personal credit history and may be higher than the APR displayed above. You may not be eligible for the lowest rates available, including the introductory rate. All requests are subject to credit approval. Other terms, rates and conditions may apply depending on credit eligibility and other factors. The disclosed payment may be higher due to taxes and insurance.
The early termination fee is $650.00 if the home equity line of credit is closed within the first 36 months of loan consummation.
1-4 family owner-occupied property only. Appraisal may be required. Standard closing costs apply. These fees generally total between $0.00 and $750.00. Homeowners Insurance is required. Title and/or flood insurance may be required. Consult your tax advisor about deductibility.
All rates and terms are subject to change without notice. Additional terms, conditions, and fees may apply. Please inquire.
Click here for our home equity line disclosure.
Additional resource:
What You Should Know About Home Equity Lines of Credit (source: Consumer Financial Protection Bureau)
Closed End Home Equity Loans
| Rate | APR* | Term | Monthly Cost per $1,000 | Maximum Combined Loan to Value (CLTV) | Minimum/Maximum Loan Amount |
|---|---|---|---|---|---|
| 8.25% | 8.394% | 60 Months | $20.40 | 80% | $10,000/$250,000 |
| 8.50% | 8.579% | 120 Months | $12.40 | 80% | $10,000/$250,000 |
| 8.625% | 8.682% | 180 Months | $9.92 | 80% | $10,000/$250,000 |
| 8.75% | 8.797% | 240 Months | $8.84 | 80% | $10,000/$250,000 |
| 9.125% | 9.173% | 300 Months | $9.08 | 80% | $10,000/$250,000 |
Annual percentage rate is fixed for the life of the loan. The above table is a sample of the rates and programs available at Avidia Bank. For more information please, complete our online application and a loan officer will contact you directly to further discuss your needs. Pricing is subject to change at any time. The information provided assumes a loan amount of $100,000 and a loan to value ratio of 80%. The property is an existing home and will be used as a primary residence or second home. The assumed credit score is at least 720. Your actual APR will be based on your personal credit history and may be higher than the APR displayed above. You may not be eligible for the lowest rates available. All requests are subject to credit approval. Other terms, rates and conditions may apply depending on credit eligibility and other factors. The disclosed payment may be higher due to taxes and insurance.
1-4 family owner-occupied property only. Appraisal may be required.
Standard closing costs apply.
Homeowners insurance is required. Title and/or flood insurance may be required. Consult your tax advisor about deductibility.
All rates and terms are subject to change without notice. Additional terms, conditions, and fees may apply. Please inquire.
*APR=Annual Percentage Rate
CLTV=Combined Loan to Value