Home Equity Line of Credit
Update everybody's favorite room.
A low-interest Home Equity Line of Credit may be the key to consolidating existing debt or paying off a big purchase, like your car, boat, vacation, wedding or home remodel.
|HOME EQUITY LINE OF CREDIT|
|Introductory rate for the first 6 months
as low as
|Variable rate after introductory period as low as
Call (952) 230-1630 to speak with a banker for help getting started.
*Introductory Annual Percentage Rate (APR) is fixed at 1.99% during the six-month introductory period. After the six-month introductory period the APR is variable and based on the Prime Rate as published in The Wall Street Journal Money Rates Table (4.25% as of 08/15/17), plus a margin. This line of credit has a 10-year draw period, after which you will be required to repay any amounts borrowed within a 20-year repayment period. The quoted APRs are available for well qualified applicants with credit lines secured by a single-family owner occupied residential property, combined loan-to-value not exceeding 80%, and a first real estate mortgage balance of $450,000 or less. The quoted APRs reflects a 0.25% interest rate discount for automatic payment from an Anchor Bank checking account. Without the automatic payment feature, the offer has an Introductory 2.24% APR and a Variable rate after the introductory period of 4.99% APR. The maximum APR is 18.00% and will not go below 4.74% APR or 4.99% APR after the six-month introductory period. $100 processing fee is waived. Fees, less a $200 credit, are applicants' responsibility; average fees range from $475 to $1,780. Property insurance and, if applicable, flood insurance are required. Your pricing may be higher based on your credit qualifications, combined loan-to-value, first real estate mortgage balance, term and whether you elect the automatic payment feature. Please ask us about our other available Home Equity Line of Credit plans. Offer available for a limited time and only on new credit lines of $10,000 or more or existing credit lines increased by a minimum of $10,000. Offer is subject to credit approval. Other terms and conditions may apply. Rates subject to change.