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Printer-friendly versionLoan Rates
Home Equity Line of Credit**
Rates Accurate As Of: May 3, 2011
| Term | From | To | Interest Rate | APR* |
| 10 year term | $10,000 | $99,999 | Prime + 1.00% | 4.50% |
| $100,000 | $499,999 | Prime + 0.50% | 4.50% | |
| $500,000 | and up | Prime + 0.25% | 4.50% | |
** 1/4% Discount with an Auto Debit from Beverly Bank and Trust Checking Account not in connection with other discounts.
*Beverly Bank and Trust Variable Annual Percentage Rate (ARR) current as of 05/03/2011 and ranges from Prime +0.25% (currently 3.50% APR) to Prime + 1.00% (currently 4.25% APR) (based on WSJ Prime index) for line advances. This home equity line of credit has a floor of 4.50% which the APR cannot be less than and APR cannot exceed 20.00%. The actual rate that you will receive depends on credit qualifications, loan to value (LTV) and size of line. Offer applies to lines secured by owner occupied, one to four family residences. If the line is $250,000 + or if the line is secured by property outside of the state of Illinois, the estimate of fees to open the home equity line of credit is $490 - $2,000. Property insurance is required and flood insurance may be required. If account is paid off within two years (24 months) you will incur a prepayment penalty of $375. Payment Information: Making just the required monthly payment of interest only will not reduce the principle balance of the loan and will result in a balloon payment equal to the sum of all advances when the loan matures. Home Equity Lines of Credit may change, be adjusted or withdrawn at the discretion of the bank.
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