Rates effective as of
Home Equity Line of Credit 1, 2
Prime - 1%
Home Equity Line of Credit in Excess of $100,000
Prime - 1/2%
Home Equity Line of Credit of $100,000 or less
Prime - 1/4%
Prime + 0%
Home Equity Loan 1
Personal Installment Loan 3
Home Equity rates available for 1- 4 family owner-occupied and vacation properties only
For repayment of a 15-year Home Equity Loan at 5.500% APR the monthly payment would be $8.17 monthly per thousand.
1 Borrower pays the appraisal fee ($225–$575) for a home equity line of credit or a home equity loan in excess of $100,000 or in excess of 50% of the property’s tax assessed value. If title to be held in trust or home equity line of credit or home equity loan is greater than $500,000 legal fees ($500–$815) and recording fees ($250–$325) apply. For home equity lines of credit or home equity loans $1,000,000 or greater title insurance is required ($2.75 per $1000 of mortgage amount). Consult your tax advisor about tax deductibility. The home equity line of credit interest rate is variable and subject to change monthly. The Maximum Annual Percentage Rate (APR) of interest is 18%. The APR is based on the value of an index. The index is the Wall Street Journal Prime Interest Rate. An early termination fee of $500 will be charged if you close your home equity line of credit within one year from the date of your Home Equity Line of Credit Agreement and Disclosure Statement. Relationship rate is available to borrowers who maintain a Cambridge Trust Company Premium or Premium Plus Relationship deposit account, with auto-debit of the monthly payment from a Cambridge Trust Company deposit account. Minimum APR of 4.00% for Relationship or 4.50% for non-Relationship customers applies to Line of Credit only. Property insurance is required. Flood insurance is required if property is in a flood zone.
2 Fixed Rate Advance Conversion Fee is $50. A minimum conversion amount of $10,000 will apply. You may have up to three (3) Fixed Rate Advances outstanding at one time and up to eight (8) in total over the ten (10) year draw period, subject to your credit limit. Other stipulations may apply.
3 Loans for Educational Purposes only available on a secured basis.
Cambridge Trust Company's lending area includes Middlesex, Suffolk, Norfolk, Essex, Plymouth, Barnstable, Dukes, Nantucket and Worcester counties.
For more information, ask your branch representative or call 617-876-5500.
© 2013 Cambridge Trust Company. All Rights Reserved.