HELOC Spanish

HELOC Spanish



HELOC in Spanish


*The introductory rate and Annual Percentage Rate (APR) of 7.49% are fixed for the first 6 months and require automatic payments made from an East Cambridge Savings Bank (ECSB) checking/savings account. After 6 months, the rate and APR are variable and subject to change for the remaining life of the loan based on the Wall Street Journal Prime Rate (Prime) minus 0.510% (currently 7.99%) if the monthly payment continues to be automatically deducted from an ECSB checking/savings account. If at any time the monthly payment is not automatically deducted from an ECSB checking/savings account, APR will be variable and equal Prime plus 1.00%, currently 9.50%. As of 6/21/2024, Prime is 8.50%. Minimum 4.99% APR, maximum 18.00% APR. An Annual Fee will be charged to your Credit Account annually during the Draw period in the Monthly Statement Period ending in your anniversary month which we assign to your Credit Account. Early termination fee equal to ECSB closing costs (approximately $0 to $900) applies if the line is closed within the first 24 months. Property insurance will be required. Rate only available for applicants without an existing ECSB HELOC. Minimum draw at closing of $10,000 required. Subject to credit approval.

 

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