Home Equity Loan or Line of CreditÐÊTake your pick!
- No Points
- No Application Fee
- No Annual Fee
Home Equity Loan
Prefer a fixed rate and fixed monthly payments? Our Home Equity Loan may be the answer. Borrow a set amount and choose the repayment term that meets your needs.
| Max Loan to Value |
75% |
80% |
| Minimum Loan Amount |
$30,000 |
$30,000 |
| Maximum Loan Amount |
$200,000 |
$100,000 |
5-Yr Equity Loan APR
Payment Per Thousand |
4.95%
$18.85 |
4.95%
$18.85 |
10-Yr Equity Loan APR
Payment Per Thousand |
5.25%
$10.73 |
5.25%
$10.73 |
15-Yr Equity Loan APR
Payment Per Thousand |
5.65%
$8.24 |
5.65%
$8.24 |
20-Yr Equity Loan APR
Payment Per Thousand |
6.25%
$7.31 |
6.25%
$7.31 |
| Estimated Closing Costs |
$0 for loans of $30,000 or more
$375 for loans under $30,000 |
Early termination fee may apply. Minimum credit score of 725 is required to qualify for this program. Homeowners insurance is required. Rates subject to change at any time without notice. Other rates and terms available.
Home Equity Line of Credit
With our Home Equity Line of Credit we offer an introductory fixed rate for up to 5 years. You will still enjoy the flexibility and convenience of a line of credit, which you can access at any time simply by writing a check.
| Option 1 - |
Fixed for 2 years
Prime -.50% thereafter |
4.50%* |
| Option 2 - |
Fixed for 5 years
Prime -.50% thereafter |
5.00%* |
| Application Fee |
$0 |
| Estimated Closing Costs |
$0 |
| Limits |
$30,000 - $100,000 80% Max. Loan to Value
$100,001 - $200,000 75% Max. Loan to Value
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*Options 1 and 2 Ð After the introductory fixed rate period has ended (2 years for Option 1; 5 years for Option 2), the Annual Percentage Rate may change on the 1st day of each month based on the Prime Rate as published by the Wall Street Journal on the last business day of the preceding month, subject to a minimum APR of 5.00% and a maximum APR of 10.00%. The current Prime Rate is 3.25%.
Early termination fee of $400 applies if line is terminated before three years. Minimum credit score of 725 is required to qualify for this program. Homeowners insurance is required. Rates are subject to change at any time without notice.
Protect yourself from rising home equity rates. Refinance today.
To apply, stop by a Mayflower Bank branch or call us at (508) 947-4343.
How can we help?
For more information please complete our information request form, stop by one of our offices, or call (508) 947-4343.
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