With a Home Equity Line of Credit with a Fixed-Rate Advance, get cash to use towards:
- HOME IMPROVEMENTS
- DEBT CONSOLIDATION
- EDUCATION EXPENSES
- AND MORE!
When you take advantage of a HELOC with a fixed-rate advance, you’ll enjoy the predictability of a fixed monthly payment that won’t change over the term of your loan to help manage your cash flow and household budget. HELOC balances that are not locked in with a fixed-rate advance remain available to you at the current variable interest rate, but the interest rate is subject to change unlike balances under a fixed-rate advance.
Loan features include:
- Fixed-rate advance amounts from $10,000 - $400,000
- Instant access to funds with a Tri Counties Bank Equity Access Visa ® Card – use everywhere Visa is accepted
- Instant access to funds with Credit Line Checks
- Transfer funds directly to your Tri Counties Bank checking or savings account
Home Equity Lines of Credit
Speak with a Home Equity Specialist
One of our home equity specialists will contact you and answer any questions you may have to help turn your home's equity into cash.
1 As of April 1, 2018, 6.05% Fixed Annual Percentage Rate (APR) for 36 months available to qualified applicants. Rate based on term selected and your creditworthiness. Fixed rate terms range from 36-120 months. The rate of the advance will not increase during the term selected. Fixed Rate Advance rates quoted require an Automatic Funds Transfer (AFT) from a Tri Counties Bank checking account; without AFT the APR will increase. A Tri Counties Bank Consumer Checking account is required to receive the lowest rate, but is not required for loan approval.
2 Home Equity Lines of Credit (HELOC) with a Fixed Rate Advance (FRA) are available to qualified applicants on owner occupied conforming residential real property in first or second lien position up to a 80% maximum loan to value for primary residences, or 70% maximum loan to value for second homes. Second liens may not be written behind an existing HELOC. Standard closing costs generally range from $450 to $2,500 on home equity lines. Subordination fees to other lenders vary and apply on all line amounts. The standard $75.00 Annual HELOC line fee will apply. Property insurance is required. A prepayment fee of 2% of maximum credit limit or $500, whichever is less, applies if the credit line is paid off and closed prior to the three year anniversary date of the credit agreement.
3 The Home Equity revolving Lines of Credit will have an APR which is a Variable Rate calculated by adding a margin to the monthly Prime Rate as published in the Wall Street Journal. The Prime Rate is currently 4.50% as of 03/16/2018. The margin will be determined based on your creditworthiness, property type, occupancy and loan-to-value. The APR will never be less than 4.50% or more than 18.75%. Rates quoted include a 0.25% discount for AFT from a Tri Counties Bank checking account; without AFT the APR will increase by 0.25%.