Loan Rates as of ,
Rates subject to change.
|HOME EQUITY LINES OF CREDIT
|FIXED RATE HOME EQUITY LOANS
|Max Term||Annual Percentage Rate (APR)||Payment per $10,000
(based on max term)
| AUTO LOANS
Year of Vehicle
||Annual Percentage Rate (APR)||Payment per $10,000 (based on APR & max term)|
|OTHER LOAN TYPES||Max Term||Annual Percentage Rate (APR)||Payment per $1,000
(based on max term & APR)
HOME EQUITY DISCLOSURES
- Available on owner-occupied residences
- Variable rates based on the Prime Rate, plus the margin, as published in the Wall Street Journal, subject to the Minimum and Maximum APR. The current Prime rate is 5.50%. Minimum APR is 2.50% and the Maximum APR is 18%.
- No application fee. Additional title and or appraisal charges may apply under certain circumstances.
- $50 annual fee applies to line of credit. This fee is waived first year.
- Early termination fee of $300 applies if line of credit closed within 3 years of opening.
- Approval depends on the appraised home value, applicant's income, total indebtedness, and credit history. Consult your tax advisor regarding interest deductibility. Property insurance required.
- Maximum LTV = 80% for lines and loans up to $49,999 and 75% up to $200,000. LTV Calculation: (Appraised value of home x Max LTV) - (Current outstanding balance of 1st mortgage) = Maximum line amount or fixed rate amount. Lines over $100,000, Max LTV of the existing first mortgage cannot exceed 50%. Maximum LTVs could be lower under certain circumstances involving condominiums as collateral or for some debt consolidation scenarios. Talk to a Loan Officer if you have concerns.
AUTO LOAN DISCLOSURES
- Used Car Mileage Limitation = 60,000
- Bank policy is that we do not refinance any existing GSB auto loan
- Down payments of 10% to 15% generally required
OTHER LOAN DISCLOSURES
- Unsecured loans not available for debt consolidation. Loans for purpose of tax payments or vacations are limited to 12-month terms
- Term of CD loan should match term of CD; no beneficiaries on CD
- Unsecured Loans offered to customers with a current GSB core checking account
Rates last changed 4/1/19