Home Equity Line of Credit Promotion
For a limited time, SENB Bank is offering a HELOC at a three-month low introductory rate for new Home Equity Line of Credit customers. Compare these low rates with other financial institutions to see how we stack up! Did you know? A Home Equity Line of Credit (HELOC) can be used to fund just about anything.
- A brand new vehicle
- An exciting vacation
- Your dream wedding
- New furniture
- An addition on your home
- A swimming pool
|Description||Three-month low introductory rate for new Home Equity Line of Credit customers.||Variable rate for remainder of ten-year term – currently.|
Apply today while rates are low!
*Offer is based on a new Home Equity Line of Credit (HELOC) from $5,000 to $200,000 with a maximum combined loan value of 80%. There is an annual fee of $15.00 in Iowa, $35.00 in Illinois, and $50.00 in Wisconsin, beginning with the second year. If all requirements are met, the introductory rate of 1.49% for new SENB Bank Home Equity Line of Credit accounts will be in effect for the first 3 months after your account is opened. Upon expiration of the introductory rate, interest rate will become variable with a maximum of 18% or as applicable by law. All balances will accrue at Wall Street Balance Prime (WSJP is currently 3.25% as of May 1, 2021, and can vary + 0.50%. The floor rate is equal to the WSJP + 0.5% at account opening (currently 3.75%.) The term of the loan is 10 years. Offer is subject to credit approval and property insurance is required. This offer is available only to owner-occupied, single-family residential real property located in IA, IL and WI. No purchase money lines allowed. There is no limit on advance taken at origination (not to exceed your line of credit amount.) The Bank must obtain a valid first or second lien position on the collateral. Offer subject to change without notice. Certain conditions and restrictions may apply. See a bank employee for complete details. Please consult your tax advisor regarding the deductibility of interest.