Great rates can be found at Ion Bank.
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 Sunday, October 01, 2023
Home Equity Loan
$10,000.00 Minimum Loan Amount – $250,000 Maximum Loan Amount
Second Lien Position
| Loan Program | APR | Payment |
|---|---|---|
| 5 Year | 5.500% | Calculate Payments |
| 7 Year | 5.625% | Calculate Payments |
| 10 Year | 6.000% | Calculate Payments |
| 15 Year | 6.250% | Calculate Payments |
| 20 Year | 6.500% | 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.
Maximum loan is limited to 85% of appraised value less consideration of first mortgage. No closing costs means the borrower is not charged for any of the standard closing costs of the mortgage for loan amounts under $250,000. Other rates and terms available. All loans are subject to credit approval. Approval restrictions may apply.
Home Equity Line of Credit
$10,000.00 Minimum Line Amount – $250,000 Maximum Line Amount
Prime + .50% Home Equity Line of Credit
| Loan Program | APR | Payment |
|---|---|---|
| Prime plus .50% | 8.50% | Calculate Payments |
The Annual Percentage Rate (APR) is a variable rate and is based on the Wall Street Journal’s Prime Rate plus .50%. As of July 27, 2023, Prime Rate is 8.50% and the APR is 8.50%. Maximum APR that will apply during the life of this loan is 18%. Minimum APR (floor) is 5.50%. A 0.50% discount with automatic payment from an Ion Bank personal checking account. The annual fee of $50 is waived and will continue to be waived as long as automatic payment deduction continues from an Ion Bank personal checking account. Offer is good on owner-occupied 1-4 family residences up to 80% loan-to-value. Minimum check 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. Contact us for other financing options.