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Home Equity Line of Credit
Home Equity Lines of Credit
A Home Equity Line of Credit offers you an affordable and flexible way to borrow the amount you want whenever you need it!
- No Closing Costs or hidden fees*
- Fast Application approval*
- Low interest rate adjusted daily for market conditions*
- 1% rate reduction with automatic payment option*
- Interest paid may be tax deductible*
- Advances available for entire term*
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* The variable Annual Percentage Rate (APR) for the line of credit can change daily based on the index, which is the highest Prime Rate published in the Wall Street Journal Money Rate tables, plus a maximum margin of 2%. The margin will depend on the combined loan-to-value of your home. Rate reduction requires automatic payment from your RCB Bank checking account. As of July 1, 2009, the maximum APR was . Lifetime APR will not exceed 21.0%. A fee of $300 will apply if line is closed within one year after opened. Property taxes, hazard insurance and, if applicable, flood insurance required. Consult your tax advisor regarding deductibility of interest.
