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Enjoy one of the best equity line rates you can find with our new Treasury Equity Line of Credit.
The Treasury Home Equity Line of Credit offers a distinct advantage. While other banks tie their equity lines to the Prime Rate, the Treasury Home Equity Line of Credit is tied to the 13-week Treasury Bill giving you a lower rate - consistently lower than Prime minus 1.
Features:
- Line amounts from $50,000 to $500,000
- Access your line with special home equity checks
- 10-year period to draw against your line
- Flexible repayment terms with interest-only payments required during the draw period
- Interest paid may be tax-deductible (consult your tax advisor)
- No closing costs to borrow up to 80% of assessed property value
*Additional details:
- $50,000 minimum draw at closing
- Variable APR (annual percentage rate) based on the last 13-Week Treasury Bill auction of the prior month-end as published in the Wall Street Journal, plus 2.40%
- Maximum APR is 18%
- 10 year repayment term follows the 10-year draw period
- To borrow up to 80% of appraised value, appraisal fee applies ($0 to $500)
- Property insurance required
- Subject to credit approval
- Owner occupied residential properties only
How to apply:
Call 617-484-6700 or visit any branch office for an application.
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