Home Equity Line Of Credit (HELOC)
Your Belmont Bank & Trust Company HELOC can be used to make home improvements, pay college tuition, consolidate debt, purchase automobiles and/or make other major purchases.
- In most cases, No Annual Fee (subject to borrower’s credit tier rating, an annual fee may be assessed)
- Competitive Rates
- Flexibility to use your funds for anything at anytime.
- Ability to use the interest-only payment option to have low minimum monthly payments
- Flexibility of reducing the balance of your loan on your terms.
- Interest may be tax deductible (please consult your tax advisor)
This is a variable rate loan tied to the Wall Street Journal Prime Rate.
*Actual rate based on several factors including borrower’s credit score, loan amount and loan-to-value. Available only for owner occupied primary or secondary residences. Subject to a 0.25% rate increase if borrower does not elect and maintain a pre-authorized ACH from a Belmont Bank & Trust account. A floor rate of 6.00% Annual Percentage Rate is in effect for all home equity loans.
For more information on our Home Equity Line of Credit or to apply, please contact;
the Lending Department at 773.589.9500.