Put the equity you've built in your home to work for you! A home equity solution from LSB can be used for home improvements, vehicle purchases, debt consolidation, vacations and more!
For whatever you're dreaming, a Home Equity Line of Credit (HELOC) may be the answer!
2.99% APR Introductory Rate for 12 Months*
Variable rates after initial 12 months, rates will be the greater of 4.25% APR or…
Up to 80% LTV.........................Prime
What would a HELOC look like? Here are some examples:
Your home's value is $150,000, and your existing mortgage balance is $70,000. A $10,000 HELOC would put your overall loan-to-value at 53.3% (Mortgage + HELOC/Value). You decide to draw against the entire line. After the initial 12 month rate of 2.99% APR, your new rate is 4.25% APR.
You would pay 3rd party fees typically ranging from $150 - $300
Your minimum Payment for the first 12 months would be: $24.92/month
Your Payment following the first 12 months would be: $35.42/month
If you made only the minimum monthly payment, it would take 10 years to pay off a credit advance of $10,000 at an ANNUAL PERCENTAGE RATE of 4.25%. During that period, you would have made 12 payments of $24.92, and 107 payments of $35.42 with a final payment of $10,035.42.
- All "Third Party" fees will be paid by the customer for NEW HELOC
- Third party fees include (but may not be limited to) things like appraisal fees,
recording, title search, flood certification.
- These fees typically range from $150 - $300
- Existing LSB HELOC (not available if currently in the HELOC special) – if a customer would like to move an existing LSB HELOC that is not part of the HELOC special, a rewrite fee of 1% of the existing balance will apply. The minimum rewrite fee is $100.
- Payment schedule will be interest only for all HELOCs. Customers may make additional principal payment without penalty.