Home Equity Rates CT | Home Equity Loans & Lines of Credit | Ion Bank
Our Cheshire branch has reopened for new account opening, night drop, and safe deposit access by appointment only by calling Sean Fogarty or Amie Chandarpal at 203.272.3714. All other transactions will be accommodated through our drive-up Personal Teller Machine. Thank you for your patience during our renovation.

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 Friday, February 23, 2024


Home Equity Loan

$10,000.00 Minimum Loan Amount
Second Lien Position

Loan ProgramAPRPayment
5 Year6.500%Calculate Payments
7 Year6.375%Calculate Payments
10 Year6.750%Calculate Payments
15 Year7.000%Calculate Payments
20 Year7.250%Calculate Payments
Start New Application Resume Application

Rates include a 0.25% discount with automatic payment deduction from an Ion Bank personal checking account. If the automatic payment is terminated for any reason, the rate will increase by 0.25%. 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 up to $250,000. Rates quoted are for loan amounts up to $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 – Owner Occupied Properties Only
Prime + .50% Home Equity Line of Credit

Loan ProgramAPRPayment
Prime plus .50%9.00%Calculate Payments
Start New Application Resume Application

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 9.00%.  Maximum APR that will apply during the life of this loan is 18%.  Minimum APR (floor) is 5.50%.  A 0.25% 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.

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