Home Equity Loans
Download Home Equity Loan Application
Home Equity Line of Credit
A Home Equity Line of Credit (HELOC) is a great way for you to access the equity in your home on an as-needed basis. The interest on the loan is generally tax-deductible (consult your tax advisor) and you are able to access your funds anytime by check. For lines $25,000 or greater:
- No application fee
- No closing costs
- No annual fee
- Interest only payments
- Checks to access account - free checks
- Monthly statement of activity
- Discounted rate for automatic payment from Affinity account - .50%
- Maximum loan-to-value - 80% value of your home
CURRENT HOME EQUITY LINE OF CREDIT SPECIAL OFFER*
Home Equity Line of Credit - No fees
Introductory Rate - 2.95% for first 6 months, then prime rate for remainder of term.
Fully Indexed Rate - 4.00%
*APR means annual percentage rate. APR assumes your home equity line of credit payment is automatically deducted from an Affinity Bank checking account. APR assumes your total mortgage loans, including your home equity line of credit, does not exceed 80% of appraised value of your owner-occupied primary residence. Rate accurate as of 3/1/12. 2.95% rate guaranteed for first six billing cycles. Thereafter, the interest rate will be Wall Street Journal Prime Rate with a minimum APR of 4.00%. Minimum APR is 2.95%. Maximum APR is 18.0%. The non-introductory APR may vary and adjust daily based on changes in the highest Prime Rate as published in the Wall Street Journal. The fully indexed rate as of 3/1/12 is 4.00%. Loan includes a 5 year ³draw period² and a maturity date of 5 years from date of loan. Example: If you borrowed $25,000 and made interest only payments for 5 years, your principal balance at the end of the period would be $25,000. Based on this example, your monthly interest payment at the fully indexed rate would be approximately $82.19 per month. Application fee of $300 waived for loans of $25,000 or more. Applications subject to underwriting and credit approval. Property insurance required. Flood insurance may be required. Title insurance may be required for loans of $100,000 or more. $300 termination fee applies if account closed within 36 months of opening. Offer applies to new home equity loan customers only. Other rates and terms available for loans not meeting above criteria. Offer may be withdrawn at any time.
Home Equity Term Loans
Home Equity Term loans are another great way for you to access the equity on your home for a home improvement project or to pay off higher interest rate loan balances at other institutions. The interest on the loan is generally tax-deductible, however consult your tax advisor.
Terms on term loans are available for 1 year through 15 years to meet your needs.
- No application fee
- $175 closing costs
- Fixed rates for term of loan
- Discounted rate for automatic payment from Affinity account - .50%
- Maximum loan-to-value - 80% value of your home
CURRENT HOME EQUITY LOAN SPECIAL OFFERS
Home Equity Loan**
60 Month Term - No fees
3.95%
Home Equity Loan**
84 Month Term - No fees
4.25%
**APR means annual percentage rate. APR assumes your home equity term loan payment is automatically deducted from an Affinity Bank checking account. APR without automatic payment is .50% higher. APR assumes your total mortgage loans, including your home equity term loan, does not exceed 80% of appraised value of your owner-occupied primary residence. Application fee of $500 waived for loans of $10,000 or more. A loan of $10,000 with a 5 year term would have monthly principal and interest payments of $183.95. A loan of $10,000 with a 7 year term would have monthly principal and interest payments of $137.85. Applications subject to underwriting and credit approval. Property insurance required. Flood insurance may be required. Title insurance may be required for loans of $100,000 or more. $300 termination fee applies if account closed within 36 months of opening. Offer applies to new home equity loan customers only. Other rates and terms available for loans not meeting above criteria. Offer may be withdrawn at any time.
Personal Loans
Affinity Bank offers a variety of personal loans to meet your needs. We offer competitive rates, flexible terms and convenient repayment schedules. Please ask an Affinity Bank representative at any of our convenient locations to discuss your needs so that we can help you find the best loan product for you.
Mortgages
If you are looking to purchase a new home or refinance your existing home, Affinity Bank offers a loan product to meet your needs. Choosing the right loan product amongst the hundreds of programs available from many different sources can be a stressful process to say the least, but it doesn't have to be. Let us do the homework to find the best loan product based on your individual needs. Our rates and fees are very competitive and our service separates us from the others. When you are looking to make this significant decision related to your personal finances you will find that Affinity Bank will truly be a resource that will Simplify Your Life!
Credit Cards
Our Visa Platinum credit card has everything you need, and best of all, it's offered by Affinity Bank, a local independently owned community bank, directly to you. Our Visa Platinum credit card has low rates and other great features.
