Our Home Equity Plus is a variable interest rate line of credit that provides you with the option to lock in the outstanding balance at any time with a fixed-rate, fixed-term loan. Low Annual Percentage Rate (APR) of Prime minus 1.01%. Minimum line of $ 25,000.
Customers may prefer to open either a Variable Interest Rate Line of Credit or a Fixed Rate Loan without the special line/loan link feature offered in our Home Equity Plus product. To obtain information about these products, please call us toll-free at 1-866-446-5500.
Highest Prime Interest Rate in Wall Street Journal on last business day of the previous month.
$500 prepayment penalty if line is paid off and closed in first two years.
Home Equity Plus lock-in fixed-rate loan - minimum lock-in of $ 10,000. Lock-in up to four loans linked to your Home Equity Plus line of credit. $ 35 fee per lock-in.
Your monthly payment for the line or loans must be automatically deducted from a South Coastal Bank checking account.
If appraisal is needed, a $ 300 fee may be charged.
Subject to credit approval. Property insurance required. This cannot be combined with any other offer and is available on a one to four family owner-occupied property, and not available for homes currently for sale or intended to be sold within 6 months of loan closing.