Home Equity Loans

Cape Cod Cooperative Bank

Offers a wide variety of Home Equity Loan options with competitive rates and terms. Call one of our convenient Branch Locations today for rates and to find out how we can help you!

Home Equity Lines of Credit

Loan Type	Fixed Rate	Home Equity Credit Plus	Investment	Alternate Pricing
Rate	Fixed Rate Annual Percentage Rate effective 1/6/10 is 7.00%. (Rate is subject to change without notice)	Prime +.75%*(adjusts monthly) Annual Percentage Rate effective 1/6/10 is 4.00%.	Prime +2.00%* (adjusts monthly) Annual Percentage Rate effective 1/6/10 is 5.25%.	Prime +3.00%* (adjusts monthly) Annual Percentage Rate effective 1/6/10 is 6.25%.
Annual Fee	No	$50. Annual Fee (waived for CapeLife Account customers)	No	$50. Annual Fee (waived for CapeLife Account customers)
Auto-Pay Required	Yes	Yes	Yes	Yes
Closing Costs (See Below)	Bank Paid (An appraisal fee of $250-$500 may apply)	Bank Paid (An appraisal fee of $250-$500 may apply)	Customer Paid ($250-$2,000)	Customer Paid ($250-$2000)
Max Combined Loan to Value Ratio	70% Assessed Value; 80% Appraised Value; 60%-Condominiums	70% Assessed Value; 80% Appraised Value; 60%-Condominiums	60%**	70% Assessed Value; 80% Appraised Value; 60%-Condominiums
Minimum Credit Score Required	Yes	Yes	Yes	No
Property Type	1-4 Family Dwelling	1-4 Family Dwelling	1-4 Family Dwelling	1-4 Family Dwelling
Occupancy	Primary/Secondary	Primary/Secondary	Investment	Primary/Secondary
Monthly Payments	10 Years Interest Only; 20 Years Amortized	10 Years Interest Only; 10 Years 1% Principal + Interest; 10 Years Amortized	10 Years Interest Only; 20 Years Amortized	20 Years 1% Principal + Interest; 10 Years Amortized
Draw Period	10 Years	20 Years	10 Years	20 Years
Pre-payment Penalty	$750.00 Year 1 $500.00 Year 2 $250.00 Year 3	$350.00 first 24 months	$350.00 first 24 months	$350.00 first 24 months
Rate Lock Feature	Fixed for Life	All or a portion of the principal balance, minimum $10,000.00 can be locked for up to 3 years at prevailing rates. You may have up to 5 locks at any given time. A $50.00 rate lock fee applies to each lock.	None	None
Property Insurance Required?	Yes	Yes	Yes	Yes

*Minimum Loan Amount of $10,000. The index is the prime rate as published in the Money Rates section of the Wall Street Journal on the first business day of the month. As of 1/6/10 the Prime Rate was 3.25%. The Annual Percentage Rate may increase after the account is opened but will not exceed 18.00% or a minimum of 4.00%.. An appraisal fee of $250-$500 may apply. Property Insurance is required. Penalty for early termination may apply. Auto-Pay from a Cape Cod Cooperative Bank account is required to qualify for this rate.

** Loan To Value (LTV) over 70% requires a rate of Prime+.75%. Maximum LTVs are based on 70% of Assessed Value and 80% of Appraised Value. Maximum Total Loan To Value (TLTV) is 60% for Condominiums based on Assessed or Appraised Value.

Bank Paid closing costs are limited to title run-down, title insurance and recording fees for the new loan, flood insurance certificate and equity line checks. Any additional expense is not considered part of the typical closing costs and will be the responsibility of the borrower. These additional fees include, but are not limited to; appraisal fees, transfer of title (re-deeding), trust review, preparation and recording of trustee certificate, Homestead Act and previous discharges.

Customer Paid closing costs can include title run-down, title insurance and recording fees, flood insurance certificate and equity line checks. Any additional expense not considered part of the typical closing costs can also include, but are not limited to; appraisal fees, transfer of title (re-deeding), trust review, preparation and recording of trustee certificate, Homestead Act and previous discharges.

Fixed Rate Home Equity Loans

One-time loan with a fixed rate!

If your home equity needs are a one-time occurrence, then the Cape Cod Cooperative Home Equity Loan may suit your needs. The loan features a fixed rate and payback schedule. You can take advantage of the possible tax benefits (the interest you pay may even be tax deductible; be sure to consult with your tax advisor).

A fixed rate and term
A great way to obtain funds for home improvements, debt consolidation, or other needs
Offers 0.25% lower interest rate with automatic payment from your Cape Cod Cooperative Checking or Statement Savings account
Minimum Loan Amount: $10,000

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