Today's HELOC Rates
Rosedale Federal offers a variety of home-related loan products. Our Residential Lending Production Team is here to guide you through the process step by step. Please call (410) 668-4400 ext. 103 or email us to learn more about our mortgage loan options and get a personalized rate and APR quote.
All rates and APRs are current as of at 11:00 a.m., are for illustrative purposes only, and are subject to change at any time without notice until you have locked a loan. Your actual rate, APR, and payment will vary, and could be higher, based on your specific financial situation, credit score, property appraisal, and other factors. This is not a credit decision or a commitment to lend and you must apply and submit additional financial information for review and credit approval.
| Product | Term | APR | Points |
|---|---|---|---|
| Home Equity Line of Credit (HELOC) | 10-year Draw/20-year Repay |
7.500%
9.000%
|
0.000%
0.000%
|
Assumptions and Important Disclosures
Home Equity Line of Credit (HELOC) rates, terms, and conditions are subject to credit and property approval and may change without notice. The maximum line of credit limit varies based on Loan to Value (LTV) percentage. Additional terms and conditions may apply. Eligible properties include first or second lien position owner-occupied 1-to-4-family properties and condominiums. Adequate property insurance is required, and flood insurance is required where necessary.
Variable Annual Percentage rate (APR) is based on the U.S. Prime Rate as published in the “Money Rates” table on the third Wednesday of the month in The Wall Street Journal. For loan-to-value (LTV) of 80% or less, the applicable APR is equal to the Prime Rate, currently 7.500%. For LTVs more than 80%, the applicable APR is equal to the Prime Rate plus a margin of 1.5%, currently 9.00%. The maximum APR that can apply is 18.00% and the minimum APR that can apply is 3.00%.
To open a Home Equity Line of Credit (HELOC), you must pay a non-refundable origination fee of $450 (not to exceed 10% of the credit limit). You also must pay certain fees to third parties (i.e., closing costs). These fees generally total between $4,259.00 and $8,259.00 based on a maximum loan amount of $500,000.00. Upon request, we will provide you with an itemization of these closing costs.
We will pay up to a maximum of $2,800.00 of the above third-party fees on your behalf at account opening and defer collection of these fees if you keep your account open for at least two years after your account is established. You will be required to repay any third-party fees that we paid on your behalf if your account is terminated by you during the first two (2) years after your account is established.
TAX INFORMATION:
- The interest on the portion of the loan that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes; and
- You should consult a tax adviser for further information regarding the deductibility of interest and charges.
