Home Equity Line of Credit
We offer a variable rate home equity line of credit. In addition to offering you some of the best interest rates around and low or no fees, we also provide superior service to insure that you are completely satisfied.
Our home equity line of credit can be used for a variety of purposes, may be tax deductible (consult your tax advisor) and provide a lower cost way to borrow for:
- Improving your home
- Purchasing a vehicle
- Affording a much needed vacation
- Paying off medical bills
- Funding education
- Consolidating debt
- Paying off a credit card balance while lowering your cost of borrowing
Products & Programs
- Adjustable rates (with Prime Rate as index)
- up to 85% loan to value
- 10 year line
- Your interest rate is set by the amount of your line, you pay interest only on the amount you borrow
Click here for the current rates on our home equity line of credit.
For the St. Charles Bank and Trust variable rate Home Equity Line, the Annual Percentage Rate (APR) is a variable rate based on the highest Prime Rate (Prime Rate as of 05/14/2010 is 3.25%) reported in the Money Rates section of the Wall Street Journal (the "WSJ Prime"). The maximum APR for all credits is 20.00%. The minimum APR is initial note interest rate at the time of funding. Consult your tax advisor about the deductibility of interest. Property insurance is required, flood insurance may be required. Offer is subject to the bank's underwriting parameters. An annual fee of $50 will apply after the first year. An early termination fee of $400 will apply if closed within the first three years and $125 after three years.
