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Utilize the equity in your home for anything you need with a Home Equity Loan or Line of Credit from Ion Bank.

Rates as of Friday, March 15, 2019

Home Equity Loan

$10,000.00 Minimum Loan Amount

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Loan Program APR Payments
5 Year 4.000% Calculate Payments
10 Year 5.000% Calculate Payments
15 Year 5.500% Calculate Payments
20 Year 6.250% Calculate Payments

Rates include a 0.50% discount with automatic payment deduction from a Ion Bank personal checking account. If the automatic payment is terminated for any reason, the rate will increase by 0.50%. Rates are subject to change without notice.

Home Equity Line of Credit *

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Loan Program APR Payments
Prime plus .50%1 6.000% Calculate Payments
Prime plus 1.50%2 7.000% Calculate Payments

* Other Programs available. Call for details.

1 Prime + .50% Home Equity Line of Credit

The Annual Percentage Rate (APR) is a variable rate and is based on the Wall Street Journal’s Prime Rate plus .50%. As of December 20, 2018, Prime Rate is 5.50% and APR is 6.00%. Maximum APR that will apply during the life of this line is 18%. Minimum APR (floor) is 4.00%. The annual fee of $50 is waived and will continue to be waived as long as automatic payment deduction continues from an Ion Bank checking account. Offer is good on owner-occupied 1-4 family residences up to 75% loan-to-value. Minimum check amount is $500. Property insurance may be required. Properties listed or to be listed for sale within six months are not eligible. Rates are subject to change. Loans above $250,000 may be required to be closed by an attorney.

2 Prime + 1.50% Home Equity Line of Credit

The Annual Percentage Rate (APR) is a variable rate and is based on the Wall Street Journal’s Prime Rate plus 1.50%. As of December 20, 2018, Prime Rate is 5.50% and APR is 7.00%. Maximum APR that will apply during the life of this line is 18%. Minimum APR (floor) is 5.00%. The annual fee of $50 is waived and will continue to be waived as long as automatic payment deduction continues from an Ion Bank checking account. Offer is good on owner-occupied 1-4 family residences up to 85% loan-to-value. Minimum check amount is $500. Property insurance may be required. Properties listed or to be listed for sale within six months are not eligible. Rates are subject to change. Loans above $250,000 may be required to be closed by an attorney.