Your home is your greatest asset. Let it work for you.
A Home Equity Line of Credit provides you with cash by leveraging the equity in your home - the value of your home minus any mortgage debt.
Get what you need with what you have.
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1Subject to credit approval. Katahdin Trust checking account required to earn stated Annual Percentage Rate (APR) effective 4/7/14. 2.75% APR fixed for 18 months from closing date, at which time the APR will become variable at the Prime Lending Rate as quoted in The Wall Street Journal (3.25% as of 4/7/14). APR will never exceed 18.0%. $10,000 minimum line/loan amount, $200,000 maximum line/loan amount. Maximum loan-to-value ratio is 80%. Property insurance required. Offer may expire without notice. If legal fees should exceed $110, borrower would be responsible for the portion over $110. In most cases an appraisal is required; borrower would be responsible for the cost, which may range from $250 to $450. Current customers will be charged a documentation fee of 1% of the loan amount with a minimum fee of $250 or maximum fee of $1,500 for loans refinanced with less than $10,000 in new money.
2Please consult a tax advisor for further information regarding the deductibility of interest and charges.
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