Planning to remodel or make home improvements?
A Home Equity Line of Credit could be the answer for you.
Introductory Rate for
the first 12 months
* 12-month introductory rate of 1.99% Annual Percentage Rate (APR) effective 4/1/2017. After 12 months from closing the APR becomes variable at the Prime Rate published in the Wall Street Journal for the life of the loan, currently 4.00% APR. Minimum APR is 3.00% APR. Maximum APR is 18.00% APR. Introductory rate requires automatic payment made from a StonehamBank checking account. Maximum loan amount cannot exceed 80% of the home’s current appraised value less any existing mortgage liens. Home equity line of credit annual fee of $50 applies. Offer is only valid on owner-occupied, 1-2 family residential properties and 1 unit second homes. Homeowners insurance is required; flood insurance may be required. If the Home Equity Line of Credit is closed within the first three years you will be charged a cost recovery fee of up to $495. First liens: If the Bank takes a first lien, you may be charged closing costs that range from $0 to $2,500. Payments will not include taxes and insurance; these will be the responsibility of the borrower. Subject to credit approval. Conditional credit decision in two business days contingent upon receipt of all necessary documentation from borrower at time of application.