Home Equity Line of Credit Special
Intro APR of 6.99% for 12 Months
After, Variable APR Ranges
7.50% APR to 8.50% APR
(post-intro rates as of 03/24/2025 and can change)
All loans are subject to credit review and approval. Introductory, promotional rate offer is available on applications for new Home Equity Lines of Credit (HELOCs) submitted by 07/31/2025. Annual Percentage Rates (APRs) are accurate as of 03/24/2025 and may change at any time. A 6.99% Introductory APR applies for 12 months from opening.
The introductory APR is discounted and is not based on the Index and margin used for later rate adjustments. After the introductory period ends, the outstanding HELOC balance will automatically convert to the then current post-promotional variable APR per the terms of the account agreement, which, subject to the Floor Rate, will be either Prime Rate + 0.00% (currently 7.50% APR) or Prime Rate + 0.50% (currently 8.00% APR), depending upon the loan-to-value ratio (LTV). The Maximum LTV is 80%.
Mobile Home HELOCs will automatically convert to the then current post-promotional variable APR per the terms of the account agreement, which, subject to the Floor Rate, will be Prime Rate + 1.00% (currently 8.50% APR) depending upon product and the loan-to-value ratio (LTV). The maximum LTV is 75%. Mobile home title must be converted to real estate prior to closing.
The post-promotional Annual Percentage Rate (APR) is variable and is based upon an index plus a margin and will vary with Prime Rate (the index) as published in the Wall Street Journal, currently 7.50%. The rate may increase or decrease monthly, but it will never exceed 21% APR and never fall below 3.50% APR (“Floor Rate”) for HELOCs.
Mobile Home HELOCs post-promotional Annual Percentage Rate (APR) is variable and is based upon an index plus a margin and will vary with Prime Rate (the index) as published in the Wall Street Journal, currently 7.50%. The rate may increase or decrease monthly, but it will never exceed 21% APR and never fall below 5.00% APR (“Floor Rate”).
Monthly payments are interest only payments. Making only the minimum payment each month will not reduce principal, and a balloon payment in the amount of the principal loan balance plus any outstanding fees or unpaid interest will result and be due immediately at the end of the 10-year HELOC loan term
Mobile Home HELOCs Monthly payments are interest only payments. Making only the minimum payment each month will not reduce principal, and a balloon payment in the amount of the principal loan balance plus any outstanding fees or unpaid interest will result and be due immediately at the end of the 5-year Mobile Home HELOC loan term.
A prepayment penalty of 2.00% of the Maximum Credit Limit will apply if the HELOC or Mobile Home HELOC is closed within the first three years. The maximum prepayment penalty will not exceed $399. An annual fee of $100 will apply but is waived for the first year. Appraisal fees may apply.
Property insurance is required on the property securing the loan, and flood insurance is required where necessary. Owner occupied, one - to - four family residences only. Minimum line amount on a HELOC is $5,000. Consult your tax advisor regarding the deductibility of interest. This promotion requires automatic payment deduction from your qualifying Heritage Bank personal checking account. Checking accounts may have monthly fees. Savings accounts, Minor accounts, Money Market accounts and Certificates of Deposits do not meet the requirement of a Heritage Bank Checking account. Restrictions may apply. See banker for details.
