*Offer is for qualified borrowers, subject to credit approval. The minimum loan amount is $10,000 in new money. Offer not applicable on refinancing of existing LINKBANK HELOCs that have been opened 12 months or less. Limited to owner-occupied single family residences (primary or second/vacation homes) located in Delaware, Maryland, New Jersey, Pennsylvania, or Virginia. Offer limited to HELOCs with a first or second lien up to $750,000 with a combined Loan to Value (LTV) of 80% or less (maximum 75% LTV for manufactured homes). The introductory rate of 4.99% Annual Percentage Rate (APR) will be in effect for the first 6 billing cycles after your account is opened, whether or not funds have been advanced from your account during that time. After the introductory period, the rate will convert to a variable rate that will vary with the Prime Rate as published in the Wall Street Journal plus a margin. Margin will be based on the credit score of the borrower(s). Variable-rate has a minimum (floor) of 4.00% and a maximum of 18%. As of 11/07/2024, the variable rate ranges from 7.75% to 9.00% based on a minimum credit score of 660, a maximum LTV ratio of 80%, and a minimum loan amount of $10,000. If the client establishes automatic payments at the time of origination from an eligible LINKBANK deposit account, an additional “autopay” discount of 0.25% shall apply beyond the stated variable rate. A higher APR may be applied to lines with lower credit scores, lines secured by manufactured homes, and/or lines that are secured by a second lien behind a non-LINKBANK first lien. Bank will pay initial third-party closing costs except for the following (if applicable): title insurance, closing protection letter, full appraisal, and state recordation tax in MD and VA. Total closing costs can range from $300 - $11,480 depending on fee applicability. If you terminate your account within 36 months of opening it, you will be required to pay any third-party fees paid by the Bank at account opening. Homeowner’s insurance required. Flood insurance (if applicable) is required. All accounts have a 10- year interest-only draw period, followed by a 20-year repayment period. Offer subject to change.
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