Home Equity Options and Rates

Effective 11/08/18
Rates are subject to change without notice.

Apply for a Home Equity

Home Equity Line(sup)1(/sup)

LTV up to 80%

Intro Rate for 12 Months

1.990%
APR

Then Variable / Currently

5.250%
APR

Home Equity Line(sup)2(/sup)

LTV greater than 80%, up to 90%

Intro Rate for 12 Months

1.990%
APR

Then Variable / Currently

5.750%
APR

Fixed Rate, Fixed Term Loan(sup)3(/sup)

Term

  • 5 Years
  • 10 years
  • 15 years

APR

4.750%

Monthly Payment per $1,000 borrowed

$18.76

Home Equity Loan

Term

  • 5 Years
  • 10 years
  • 15 years
  • 20 years

APR

3.500%

Monthly Payment per $1,000 borrowed

$18.19

Energy Efficiency Home Equity Loan(sup)4(/sup)

Term

  • 5 Years
  • 10 years
  • 15 years
  • 20 years

APR

3.250%

Monthly Payment per $1,000 borrowed

$18.08

Legal Information & Disclosures

1 The Annual Percentage Rate (APR) will be fixed for the initial interest rate period and may vary monthly thereafter, and will be based on the highest prime rate published in the Wall Street Journal, and shall be adjusted on the first business day of each monthly statement cycle to Prime + 0%.

The maximum APR is 17%. Maximum loan to value is 80%. A termination fee of $500 will be charged if the Home Equity Line of Credit is terminated by you within the first three years after the date of agreement. You will be charged a fee for PeoplesBank to obtain a valuation on the property securing the Home Equity Line of Credit for any request greater than $100,000. You may be required to pay for any inspections related to the property secured by the Home Equity Line of Credit deemed necessary by PeoplesBank. You are required to purchase and maintain adequate property insurance naming PeoplesBank as mortgagee. Minimum line amount is $10,000. Maximum line amount is $500,000. As of 09/27/2018, the Prime Rate is 5.250%.

2 The Annual Percentage Rate (APR) will be fixed for the initial interest rate period and may vary monthly thereafter, and will be based on the highest prime rate published in the Wall Street Journal, and shall be adjusted on the first business day of each monthly statement cycle to Prime + .50%.

The maximum APR is 17%. Maximum loan to value is 90%. A termination fee of $500 will be charged if the Home Equity Line of Credit is terminated by you within the first three years after the date of agreement. You will be charged a fee for PeoplesBank to obtain a valuation on the property securing the Home Equity Line of Credit for any request greater than $100,000. You may be required to pay for any inspections related to the property secured by the Home Equity Line of Credit deemed necessary by PeoplesBank. You are required to purchase and maintain adequate property insurance naming PeoplesBank as mortgagee. Minimum line amount is $10,000. Maximum line amount is $500,000. As of 09/27/2018, the Prime Rate is 5.250%.

3 Fixed Rate, Fixed Term Loans are an option of our Home Equity Line program. The Annual Percentage Rate (APR) will be based on the most recent monthly "Effective Rate" as published by the Federal Housing Finance Board (FHFB). The Interest Rate will be rounded to the nearest 1/8 of 1% plus a margin of 0.0% for a five (5) year term; 0.50% for a ten (10) year term; and 1.0% for a fifteen (15) year term. The minimum APR is 4.00%. The maximum APR is 17%. Minimum conversion amount is $5,000. As of 10/25/18, the "Effective Rate" as published by the FHFB is 4.77%.

The Energy Efficiency Home Equity loan offers ¼% off our standard Home Equity loan rates when at least 50% of the funds is used for the purpose of improvements designed to minimize the home’s environmental impact. You will be required to show documentation of the project highlighting the energy efficiency improvement.