Home Equity Line of Credit

Home Equity Line of Credit

You can utilize the equity you've built in your home to secure a revolving credit line for home improvements, debt consolidation, education, and more. A line of credit provides excellent flexibility, as you only use what you need, when you need it. You can access more funds without reapplying and only pay interest on what you use.

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Summary
  • No application or processing fee
  • No closing costs, except appraisal fee, if necessary **
  • 20 year draw period
  • Convertible to fixed rate at any time at no additional cost
  • Access funds through convenience checks
  • No annual fee

TERMS AND CONDITIONS: The Home Equity Line of Credit is a variable rate product that must be secured by an owner-occupied residence with a maximum 75% loan-to-value ratio for a 2nd lien position or a 80% loan-to-value ratio for a 1st lien position. Home equity lines of credit are subject to final credit underwriting and approval. Adequate homeowner's insurance is required and flood insurance may be required.

*APR=Annual Percentage Rate. The minimum loan amount to receive the introductory rate is $5,000. The 2.49% APR, is available with auto deduction of the payment from NBRS Financial checking account, is good for the first 12-months of the loan. Rate without auto deduction is 2.74%. Rate will convert to WSJP +0% at the end of the 12th month with auto deduction. Rate without auto deduction from an NBRS Financial checking account will convert to WSJP +0.25% after the 12th month.

**An appraisal fee of $400 will be charged when an appraisal is required. A prepayment penalty may apply.

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