Update. Renovate. Remodel.
* This offer is available for new Home Equity Lines of Credit (HELOC). All loans are subject to credit and collateral approval.
* The introductory APR of 2.99% will apply to the first (9) billing cycles after your Home Equity Line of Credit is opened, after which the APR will be a variable rate based on the Wall Street Prime Rate of 4.00% as published on 5/4/22. This is our standard APR; your approved APR may vary based on credit qualification and appraisal requirements. Maximum interest rate is 18.00%, with a floor of 3.50% after the 9- month introductory period. Existing ESSA HELOC customers require a new line of credit with a minimum $25,000 increase and may not have had a discounted introductory HELOC APR within the last 24 months from ESSA in order to qualify for this introductory APR promotion.
* This account includes a Fixed Rate Advance option. The fixed rate is determined at the time each Fixed Rate Advance is established based on a separate rate schedule. A $75 rate lock fee applies when each advance is established. This fee is waived when a Fixed Rate Advance is established at closing.
* Line must be secured by an owner-occupied 1- to 2-family dwelling, not currently listed for sale, maximum LTV of 80%. Minimum line amount is $10,000 and maximum line amount is $500,000. Line can be drawn on for a 10-year period with the required minimum monthly payment, the greater of, $100 or monthly interest. After the 10-year draw any outstanding loan balance is amortized over 240 months with the variable APR. Annual fee is $25 (waived for the first year).
* Approved borrower is responsible for mortgage recording fees at account opening, which range from $106 to $215 and are based on collateral location. Property insurance and flood insurance, if applicable, are required. Title Insurance required for amounts greater than $350,000. This is a variable rate which may increase. This offer is accurate as of 5/4/22 and may be discontinued at any time without notice.
* Other rates and terms are available.