William Penn Bank
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Member FDIC.  Equal Housing Lender

Home Equity Loans (Amortizing)

 

Please Note: Rates are subject to change without notice.  Please call 215-396-8585 to get the most current rate information.  All loans are subject to credit approval.  APR= Annual Percentage Rate.  Maximum loan amounts vary based on lien status

Rates Effective as of March 21, 2017

Home Equity Loans      
Term Fixed Rate APR Monthly Payment
Per $1000
3 Year 2.500% 2.650% $28.86
5 Year 3.000% 3.110% $17.97
7 Year 3.500% 3.590% $13.44
10 Year 3.950% 4.020% $10.10
15 Year 4.250% 4.310% $7.52
20 Year 5.250% 5.310% $6.74

 Lowest available rates.  Rate you receive may be higher, based on credit score, mortgage LTV, debt-to-income ratios and other loan factors.

Payments do not include taxes or insurance; actual payment may be higher.  Rate discount (0.25%) with auto payment from a William Penn Bank checking account.

 

Home Equity Lines of Credit

 

Rate APR Term  
4.00% 4.00% 15 Years  Maximum APR: 18.00%

Lowest available rate.  Rate you receive may be higher, based on credit score, mortgage LTV, debt-to-income ratios and other loan factors.

The rate is variable monthly based on the Wall Street Journal Prime Rate.  Prime Rate as of 3/15/2017 is 4.00%.  Margin is zero percent.  Floor is 4.00%.  Annual fee of $20.00.

The home equity line of credit rate is applicable for loans secured by owner-occupied, single family dwellings.  Maximum loan-to-value (LTV) is 75% for 1st or 2nd lien position; 70% combined loan-to-value (CLTV) for 3rd position.   Estimate of fees:  Appraisal:  $18-$475; Credit Report:  $14.76-$27.92; Flood certification:  $13; Search fee:  $35-$50; Recording Fee:  $77-$93.  Property insurance is required.

 

 

Call 215-396-8585 for rates and terms of loans secured by properties that are not owner-occupied, not residential, or have more than two units.