Rates effective as of March 3, 2010 • For further information please call our Main Office at 781-444-2100
Loan Type Term Rate Annual Percentage Rate (APR) Additional Information
HOME EQUITY LINE OF CREDIT 6.000% 6.000% Wall Street Journal prime rate, floating on a monthly basis for the life of the line of credit. (Published Wall Street Journal prime rate as of 12/17/08 - 3.25%) *Current Needham Bank floor rate of 6.00%
HOME EQUITY LOAN 10 Year Term - Fixed Rate 6.500% 6.500% Principal and interest paid monthly ^^120 Months - $11.35 per month per $1,000.00
HOME EQUITY LOAN 15 Year Term - Fixed Rate 6.750% 6.750% Principal and interest paid monthly ^^180 Months - $8.85 per month per $1,000.00
*Line of credit based on wall street journal prime rate, no annual fees, rate valid for new home equity lines only on primary residence. Closing costs range from $500.00-$900.00. Bank will credit $500.00 toward closing costs for a primary residence only. Early termination fee ($500.00) applies if line of credit is paid off within 24 months. Line of credit floor rate of 6.00% (Life of line of credit). Line of credit terms include a 10 year draw period followed by a 10 year repayment period. LINE OF CREDIT AMOUNTS: Minimum of $25,000.00 to Maximum of $500,000.00 property insurance required.  Maximum APR of 18%.  FIXED RATE H/E LOAN AMOUNTS: Minimum of $25,000.00 to Maximum of $500,000.00 property insurance required.  Maximum APR of 18%.
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