HOME EQUITY LINE OF CREDIT

Establish a line of credit of up to $250,000. Use the equity in your home to help finance the cost of education, remodeling, or a major purchase by simply writing a check. There are no fees* and no closing costs, assuming the Town Real Estate Assessment is sufficient for the Loan Amount Required. If not, an appraisal fee will be charged. The rate is a variable rate that floats with the Prime Rate as published by the Wall Street Journal. The interest may be tax deductible; consult your tax advisor regarding deductibility of interest.

Property insurance is required which includes, as required, flood insurance.

The maximum cumulative loan-to-value allowed will be determined by using 70% of tax assessed value, or 80% of the appraised value less the existing first mortgage balance for Single Family and Two Family owner-occupied residences only. For Condominiums or Townhouses, the LTV ratio will be 70% of the assessed or appraised value less the existing mortgage balance. An appraisal will be ordered at the customer’s expense.

(Appraisal fees run approximately $275.00 to $500.00 – if property is in a Trust)

See Rates for current terms and rates.

*A fee may be charged if an appraisal of the property is needed

HOME EQUITY LOAN

If you want to add a room, put in a pool, fix your roof or pay off your credit cards, and you want a low fixed rate, our Home Equity Loan is for you. The loan term can be repaid up to fifteen years at a fixed rate (refer to Rates), plus the interest may be tax deductible; consult your tax advisor regarding deductibility of interest. Minimum borrowing $10,000; maximum $200,000.

NEW AND USED AUTO LOANS

With our flexible repayment plans and low rates, you can afford that new or used auto. And with our automatic payment option, you can save even more.

PERSONAL LOANS

Need a vacation, want to buy a new computer, purchase furniture or for any reason -- we will help design a payment schedule that will meet your needs.

OVERDRAFT PROTECTION

With a pre-approved credit line, you can write checks or use your debit card without fear that your checks will be returned or you don't have enough money in your account. You won't have to pay overdraft check fees again.