Home Equity

Disclosures

As of 07/27/2023 Prime Rate is 8.50%

1. Not available to existing Liberty Bank Home Equity Line customers, unless the current Liberty home equity is within 24 months of the end of the draw period. Promotional Annual Percentage Rate (APR) of 5.99% is fixed for the first 12 full billing cycles. After fixed rate promotional period, the APR is a variable rate based on the Wall Street Journal’s Prime Rate minus .50%. As of 07/27/2023, Prime Rate is 8.50% with an APR of 8.00%. The minimum APR for the life of this line, after the first 12 full billing cycles is 3.00%; maximum is 18%.  Minimum line is $50,000; the maximum is $500,000. Annual fee of $50 due each year of the draw period beginning with the 12th billing cycle. The maximum combined (existing mortgage loan balances plus Home Equity Credit Line limit) loan-to-value ratio (“LTV”) is 80% of market value if total liens do not exceed $1,000,000, the property is mortgage free or has a first mortgage held by Liberty and the applicant has a minimum FICO score of 680. Contact your local Liberty Bank branch office for additional LTV limits that are applicable if total liens exceed $1,000,000, if Liberty isn’t in first lien position, or if the property is a second home. Offer for 1-4 family, owner-occupied properties located in CT, MA and RI that are not currently listed for sale and have not been listed in the previous 90 days. A one-time $500 early termination fee will be assessed if you close your account within the first two years. Consult your tax advisor regarding deductibility. Homeowners insurance required. Flood insurance may be required. Trust fees may apply. Offer subject to change without notice. All loans are subject to credit and underwriting approval.
2. Annual Percentage Rate (APR) is a variable rate and will be based on the “Wall Street Journal’s” Prime plus 125 basis points. As of 07/27/2023, Prime Rate is 8.50% and the APR is 9.75%. Maximum APR that will apply during the life of this line is 18.00%; Minimum APR is 3.00%. The minimum line amount is $10,000, maximum is $24,999. Annual fee of $50.00 due each year of the Draw Period beginning with the 12th billing cycle. The maximum combined (existing mortgage loan balances plus Home Equity Credit Line limit) loan-to-value ratio (“LTV”) is 80% of market value if total liens do not exceed $1,000,000, the property is mortgage free or has a first mortgage held by Liberty and the applicant has a minimum FICO score of 680. Contact your local Liberty Bank branch office for additional LTV limits that are applicable if total liens exceed $1,000,000, if Liberty isn’t in first lien position, or if the property is a second home. Offer for 1-4 family, owner-occupied properties located in CT, MA and RI that are not currently listed for sale and have not been listed in the previous 90 days. Consult your tax advisor regarding deductibility. Homeowners insurance required. Flood insurance may be required. Trust fees may apply. Offer subject to change without notice. All loans are subject to credit and underwriting approval.
3. Annual Percentage Rate (APR) is a variable rate and will be based on the “Wall Street Journal’s” Prime Rate minus 50 basis points. As of 07/27/2023, Prime Rate is 8.50% and the APR is 8.00%. Maximum APR that will apply during the life of this line is 18.00%; Minimum APR is 3.00%. The minimum line amount is $25,000, maximum is $500,000. Annual fee of $50.00 due each year of the Draw Period beginning with the 12th billing cycle. The maximum combined (existing mortgage loan balances plus Home Equity Credit Line limit) loan-to-value ratio (“LTV”) is 80% of market value if total liens do not exceed $1,000,000, the property is mortgage free or has a first mortgage held by Liberty and the applicant has a minimum FICO score of 680. Contact your local Liberty Bank branch office for additional LTV limits that are applicable if total liens exceed $1,000,000, if Liberty isn’t in first lien position, or if the property is a second home. Offer for 1-4 family, owner-occupied properties located in CT, MA and RI that are not currently listed for sale and have not been listed in the previous 90 days. A one-time $500 early termination fee may be assessed if you close your account within the first two years. Consult your tax advisor regarding deductibility. Homeowners insurance required. Flood insurance may be required. Trust fees may apply. Offer subject to change without notice. All loans are subject to credit and underwriting approval.
4. Annual Percentage Rate (APR) is a variable rate and will be based on the "Wall Street Journal's" Prime rate. As of 07/27/2023, Prime Rate is 8.50% and the APR is 8.50%. Maximum APR that will apply during the life of this line is 18.00%; Minimum APR is 3.00%. The minimum line amount is $1,000, maximum is $10,000. Offer for 1-4 family, owner-occupied properties in the following cities/towns: Ansonia, Bethel, Bloomfield, Bridgeport, Bristol, Brooklyn, Danbury, East Hartford, Griswold, Hartford, Manchester, Meriden, New Britain, New Haven, New London, Norwich, Plainfield, Portland, Stamford, Stratford, Torrington, Waterbury, West Haven, Willimantic, Windham, and Windsor or in MA:  Chicopee, Holyoke, and Springfield that are not currently listed for sale and have not been listed in the previous 90 days. The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Consult your tax advisor regarding deductibility of interest and charges. Homeowners insurance required. Flood insurance may be required. Trust fees may apply. Limited funds available. Offer subject to change without notice. All loans are subject to credit and underwriting approval. Ask a Loan Officer for details.