Personal Banking
Home Equity Line of Credit
Access funds as you need them, using the equity in your home using the equity in your home as a variable rate line of credit.
- No annual fee.*
- Use funds for most any purchase or expense.
- Reuse funds as you repay your line of credit.
- Interest may be tax deductible (consult your tax advisor).
Use for: Almost anything! Home improvements, recreational vehicle, vacation, college tuition, debt consolidation, and more.
Loan rates may vary based on amount, term, credit rating, and other variables. Please call, e-mail or visit the Eastwood office nearest you for more information.
* Subject to credit approval. As of July 1, 2011, the Annual Percentage Rate on a home equity line of credit with a loan-to-value less than 80% was 4.50%. Home Equity Line of Credit rates are variable and are based on the Wall Street Journal prime rate plus a margin that is based on your loan-to-value and on your deposit relationship with Eastwood Bank. Current rates vary from 4.50% to 5.00%. Maximum possible APR is 18.00% and minimum APR is 4.50%. An administration fee may apply, and in addition you are responsible for certain fees to third parties, such as appraisers, credit reporting firms and government agencies, which are generally $100-$1000.
