Rates effective as of
Home Equity Line of Credit 1, 3, 4
Rate as low as 2.75%
Home Equity Loan 2, 3
Rates as low as:
Personal Installment Loan 5
Home Equity rates available for 1- 4 family owner-occupied and vacation properties only.
For repayment of a 15-year Home Equity Loan at 4.25% APR the monthly payment would be $7.52 monthly per thousand.
1 Rates as low as 2.75% Variable APR based on the Wall Street Journal "Prime Rate" ("Prime") published on the first day of the billing cycle when a change has occurred (as of December 1, 2014) with no minimum Annual Percentage Rate (APR). Rate as low as Prime minus ½% with an auto-deduct from a Cambridge Trust account for Premium or Premium Plus Relationship customers. Otherwise, Prime minus ¼% with an auto-deduct from a Cambridge Trust account, OR Prime plus 0.00% for non-customers.
2 Home equity loans rates shown include a ¼% rate discount with an auto-deduct from a Cambridge Trust account for Premium and Premium Plus Relationship customers.
3 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 two years from the date of your Home Equity Line of Credit Agreement and Disclosure Statement. Property insurance is required. Flood insurance is required if property is in a flood zone.
4 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.
5 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 in Massachusetts and Belknap, Carroll, Hillsborough, Merrimack, Rockingham, and Strafford in New Hampshire. NMLS Unique Identifier #697495.
For more information, ask your branch representative or call 617-876-5500.
Copyright 2014 by Cambridge Trust Company