Home Equity Line of Credit

¹The interest paid on a home equity loan or credit line may be tax deductible depending on your particular tax status. Consult your tax advisor regarding tax deductibility.

*Rates are accurate as of Today's Date (Do Not Delete). The Annual Percentage Rate (APR) will be variable based on the highest Prime Rate published in the Wall Street Journal, as published on the first day of each monthly statement cycle and shall be adjusted on the first business day of each subsequent monthly cycle. The maximum APR is 18%. An early termination fee of $500 will apply if the loan is paid and discharged within 36 months from date of origination. Property insurance is required. Flood insurance may be required. Minimum line amount is $7,500. Maximum loan to value is 80% of the home’s value based on a full appraisal report. Closing costs to be paid by MSB.

You may be required to pay for any inspections and/or valuations related to the property secured by the Home Equity Line of Credit, as deemed necessary by Monson Savings Bank. These fees can range from $100-$575. $105 recording fee to discharge a prior mortgage may be required. For properties held in a trust, any applicable legal and/or recording fees relating to closing the loan in the trust will be paid by the borrower. Not available to existing Home Equity customers. Offer can end at any time without notice. Credit offer is subject to credit approval.

Each depositor is insured by the FDIC up to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).