Home Equity Line of Credit
Rates As Of: 03/15/11
Prime Rate is 3.25%
For 10 year term:
| From | To | Interest Rate | Floor | LTV |
| $10,000.00 | $39,999.99 | Prime + 1.00% | 4.50% | 80% |
| $40,000.00 | $99,999.99 | Prime + 1.00% | 4.50% | 80% |
| $100,000.00 | $249,999.99 | Prime + .50% | 4.50% | 80% |
| $250,000.00 | $499,999.99 | Prime + 1.00% | 4.50% | 75% |
| $500,000.00 | $999,999.99 | Prime + 1.00% | 4.50% | 65% |
| $1,000,000.00 | And Above | Prime + 1.25% | 4.50% | 60% |
Additions to Pricing:
For credit scores under 680 (FICO) add .50%
For LTV's of 81% to 85% add .50% (on loans $249,999.99 and below)
For LTV's of 75% to 80% add .50% (on loans between $250,000 and $499,999.99)
For any other LTV exceptions, add 2.0% (branch President/EVP approval needed)
Second homes add .50%
All costs of underwriting the loan will be paid by the bank. With auto debit from a NSCB checking account, the rate will be decreased by an additional .25% (this will only be available at closing and does not affect the floor). Floor rate of 4.5% and ceiling rate of 20% will apply. A termination fee of $500 will be applied if the loan is closed within the first 36 months. The subordination fee, if requested during the life of the loan will be $250 for each request.
Other Loans (Construction, Overdraft Protection, Auto)
Contact us for current rates.
*New home equity line customers only. The Annual Percentage Rate (APR) is a variable rate based on the highest Prime Rate reported in the Money Rates section of the Wall Street Journal (the “WSJ Prime”). On 03/15/2011, the Prime Rate was 3.25%. The minimum interest rate for all credit is 4.50%, resulting in the APRs disclosed above. The maximum interest rate for all credit is 20.00%. The rates above are preferred rates, 0.25% lower than our standard variable rates. To obtain a preferred rate, your monthly home equity line payments must be automatically debited from a North Shore Community Bank checking account. This feature is only available at loan closing and does not affect the floor. If automatic debit is terminated, your rate will increase by 0.25% for the life of the line. If account is closed within three years of inception, a $500 early termination fee will be assessed. Making just the required monthly payment of interest only will not reduce the principal balance of the loan and will result in a balloon payment equal to the sum of all advances when the loan matures. Offer applies to lines secured by owner-occupied, one- to four-family residences located in the state of Illinois with a maximum of 80% loan-to-value for lines under $1,000,000 and a maximum of 75% loan-to-value for lines of $1,000,000 and above. Approval is subject to the bank’s underwriting parameters. Property insurance is required. Rates are effective as of 03/15/11. Rates, terms and conditions are subject to change without notice.
