Current Loan Rates

This product is a variable rate line of credit secured by residential real estate located in the Fleetwood Bank service area, with a Loan to Value ratio not to exceed 80%. The rates, fees and terms of credit stated are based on the Bank’s normal credit underwriting standards. A Closing Documentation fee of $255.00 is due and payable upon signing of loan documents. This line of credit has a 15 year draw period. Property insurance is required. Flood insurance may be required.

The variable rate will be based on the greater of Wall Street Journal Prime Rate plus or minus loan level adjustments. Minimum APR of 3.49% for new EasyLock lines of credit up to $249,000.00. Maximum APR is 18.00%. Consult a tax advisor for deductibility of interest.

This line of credit includes a fixed rate option. Fixed rate APRs vary depending on Lock term selected. Lock terms may be 12 months to 180 months, not to exceed the maturity of the line of credit. This rate may vary, but once established as a Lock, will not change. There is a limit of two (2) Locks at any one time, with minimum Lock of $3,500.00, and a five (5) Locks maximum during term of line of credit.

If line of credit is closed with 24 months from contract date, 2% of the initial credit limit early termination fee applies. Borrower must pay mortgage satisfaction fee at line of credit termination. By making only the minimum periodic payments each billing cycle for the maximum term, the line of credit will have a maturity balloon payment, where all principal, interest, and fees will be due in 15 years from the date the line of credit is established.

Please refer to our credit agreement for complete details. Rate and terms subject to change and may be withdrawn without notice.