Draw out the equity in your home to pay for home improvements and repairs, vacation home, college tuition, debt consolidation, and just about anything else you need to finance. Choose between a line of credit or fixed home equity loan.
- The line of credit is a revolving loan, and as such, the principal automatically becomes available again as you repay it
- You can access your funds by logging in to Online Banking. When an Advance is made in Online Banking the funds are available immediately!
- Billed monthly for interest only
7.00% APR1
Fixed for the first 24 Months
7.50% APR2
Prime rate after the first 24 Months
17.00% APR Home Equity Line of Credit Promotion
- 7.00% APR Promotional Rate for first 24 months (no further discounts are applicable.) After 24 months APR will increase to the then current Prime Rate.
- Line of Credit Minimum Line Amount $25,000/Maximum Line Amount $500,000
- 10 Year Draw/10 Year Repayment
- Limited to primary residence (1-4 Family Property). Maximum combined LTV is 80%. Other options may be available.
2 Pentucket Bank’s Home Equity Line of Credit Annual Percentage Rate (APR) is 7.50%. The APR is a variable rate based on the Prime Rate as published in the money section of the Wall Street Journal, plus 0%. The promotional APR of 7.00% is fixed for the first 24 months (no further discounts are applicable). Thereafter, the APR will be 7.50% or the Prime Rate as published in the money section of the Wall Street Journal, plus 0%. Prime Rate is as of 1/24/2025. In order to obtain the stated rate and qualify for this program you must have a minimum credit score of 680. Minimum line amount is $25,000/maximum line amount is $500,000. Combined loan to value not to exceed 80% for 1-4 Family Owner Occupied primary residence only, property insurance required; flood insurance may be required. Early termination fee of $700.00 may apply if closed and paid off within the first 36 months. Amounts over $250,000 in 1st lien position or over $500,000 in 2nd lien position will require title insurance to be paid by the borrower at closing. You may pay certain fees to third parties. These fees generally total between $759 to $5,273.00 based on your loan criteria. Consult your tax advisor about deductibility of interest. All loans are subject to the Bank’s credit standards. The maximum rate is 18%. Rates may be subject to change or terminated anytime at the discretion of Pentucket Bank.