Home Equity Options and Rates

Effective 03/20/25
Rates are subject to change without notice.

Apply for a Home Equity

Home Equity Line(sup)1(/sup)

LTV up to 80%

Now:

6.250%
Special introductory variable APR for 12 months

Later:

7.000%
Variable after the introductory period

Home Equity Line(sup)2(/sup)

LTV greater than 80%, up to 90%

Now:

6.250%
Special introductory variable APR for 12 months

Later:

8.000%
Variable after the introductory period

Fixed Rate, Fixed Term Loan(sup)3(/sup)

Term

  • 5 Years
  • 10 years
  • 15 years

APR

8.500%

Monthly Payment per $1,000 borrowed

$20.52

Home Equity Loan

Term

  • 5 Years
  • 10 years
  • 15 years
  • 20 years

APR

6.500%

Monthly Payment per $1,000 borrowed

$19.57

Energy Efficiency Home Equity Loan(sup)4(/sup)

Term

  • 5 Years
  • 10 years
  • 15 years
  • 20 years

APR

6.250%

Monthly Payment per $1,000 borrowed

$19.45

Legal Information & Disclosures

1 The Annual Percentage Rate (APR) will be variable (Prime-1.25%) for the first 12 months, and will be based on the highest prime rate published in the Wall Street Journal as published on the first day of each monthly statement cycle, and shall be adjusted on the first business day of each monthly statement cycle. After 12 months, the APR will be variable (Prime -.50%). As of 12/19/2024, the prime rate is 7.50%.

The maximum APR is 18%. Maximum loan to value is 80%. You will be charged a fee for PeoplesBank to obtain a valuation on the property securing the Home Equity Line of Credit for any request greater than $150,000. You may be required to pay for any inspections related to the property secured by the Home Equity Line of Credit deemed necessary by PeoplesBank. You are required to purchase and maintain adequate property insurance naming PeoplesBank as mortgagee. Minimum line amount is $10,000. As of 12/19/2024, the prime rate is 7.50%.

2 The Annual Percentage Rate (APR) will be variable (Prime-1.25%) for the first 12 months, and will be based on the highest prime rate published in the Wall Street Journal as published on the first day of each monthly statement cycle, and shall be adjusted on the first business day of each monthly statement cycle. After 12 months, the APR will be variable (Prime +.50%). As of 12/19/2024, the prime rate is 7.50%.

The maximum APR is 18%. Maximum loan to value is 90%. You will be charged a fee for PeoplesBank to obtain a valuation on the property securing the Home Equity Line of Credit for any request greater than $150,000. You may be required to pay for any inspections related to the property secured by the Home Equity Line of Credit deemed necessary by PeoplesBank. You are required to purchase and maintain adequate property insurance naming PeoplesBank as mortgagee. Minimum line amount is $10,000. As of 12/19/2024, the prime rate is 7.50%.

3 Fixed Rate, Fixed Term Loans are an option of our Home Equity Line program. The Annual Percentage Rate (APR) will be based on a Fixed Rate Index and Margin. The Fixed Rate Index will be based on the highest Prime Rate ("Prime") published in the Wall Street Journal. The Fixed Rate Margin on a five (5) year Fixed Rate/Fixed Term Loan will be 1.00%; on a ten (10) year Fixed Rate/Fixed Term Loan will be 1.50% and on a fifteen (15) year Fixed Rate/Fixed Term Loan will be 2.00%. Minimum APR is 4.00%. The Maximum APR is 18%. Minimum conversion amount is $5,000. As of 12/19/2024, the prime rate is 7.50%.

4 The Energy Efficiency Home Equity loan offers .25 % off our standard Home Equity loan rates when at least 50% of the funds is used for the purpose of improvements designed to minimize the home’s environmental impact. You will be required to show documentation of the project highlighting the energy efficiency improvement.