| Home Equity
Credit Line |
Your Home Has Equity.
Why Not Use it? Borrow
what you need when you need it. Open a home equity credit
line based on the equity you have in your home. Once a line
of credit is established, you can draw against the account
by writing a check or through an online transfer to your Nexity
checking account.
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Rate * | |
| Introductory
Rate
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WSJ
Prime - .56% |
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1.00% APR
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After the three
month introductory rate expires, the line converts to a variable APR based
on
Wall Street Journal Prime (WSJ Prime) + / - a margin. WSJ Prime is currently 5.00%
less .560 percent (5.00% -
.56% = 4.44%).
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Features
- Low introductory
rate
for three months on variable rate line
- Use
your primary or secondary residence
- Lines
are available from $10,000 - $250,000
- Qualified
applicants are eligible for up to 90% of home appraised value
- Advances
to the line for up to 10 years, with up to 15 years repayment
- Interest
only payments for the first 10 years
- Account
Access 24/7 via the Internet or by telephone
- In
many cases 100% tax deduction on interest**
- No
annual fee and closing costs in most states***
To learn
more about the Nexity account that is right for you, please
select from the related information links located at the right.
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Apply Now!
*Quoted
rates are for a line of at least $50,000 with a loan to value of 80% or less and
with payments automatically debited from a Nexity Bank deposit account. Maximum
APR is 18%.
**You
should consult a tax advisor regarding the deductibility of interest.
***Not
available in all states. You may be required to pay certain mortgage taxes or
similar charges in the states of Alabama, Florida, Georgia, Kansas, Maryland,
Minnesota, New York, Oklahoma, Tennessee, and Virginia.
Subject to credit
approval.
Home equity products are not available in Texas, Alaska or Hawaii.
Property
Insurance will be required.
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