If you need a loan, just write a check.
A Home Equity Loan is different than a Home Equity
Line of Credit.
Both are based on the equity in your home. However, a Home Equity Loan is a lump sum amount you borrow at a fixed rate for a specific number of months or years.
A Home Equity Line of Credit allows you to borrow against your home equity by writing yourself a check only when you need some extra cash. You receive monthly billing statements and you can pay off your loan as fast as you want.
A Home Equity Line of Credit is perfect for those smaller emergencies that pop up now and then.
Get in line now at Hatboro Federal for your line of credit.
Rate as of January 1st, 2015: 3.00% APR*
*Annual Percentage Rate (APR) as of the publication date. Lines from $10,000 to $150,000. Interest rate is variable and is equal to the prime rate minus 0.25% as published in the Wall Street Journal on the last business day of the month. Interest is adjusted monthly. The minimum annual percentage rate is 3.00% and the maximum is 21.00%. No fees to open the account. Maximum CLTV 80%. An annual non-use fee may be charged if the account becomes inactive. The initial draw period is fifteen years. During the draw period, a minimum monthly payment of accrued interest is required. Once the repayment period begins, the outstanding balance shall be repaid in monthly payments of principal and interest over fifteen years. Consult your tax advisor regarding deductibility of interest. Other conditions may apply. Subject to credit approval, income verification and collateral evaluation. Offer subject to change without notice. Visit our website at www.hatborofed.com for more details.