1. Monthly payment may increase after consummation. Disclosed payment amount is based on an Annual Percentage Rate (APR) of 4.75%. APR is variable and adjusted monthly based on the Prime Rate as published in the Wall Street Journal, currently 4.75% as of 10/31/2019. APR is subject to change without notice. Maximum APR is 18.00%. Minimum APR is 2.99%. Term is 20 yrs. with a 10 yr. draw period followed by a 10 yr. repayment period. During repayment, your minimum monthly payment will equal 1/120th of the principal balance outstanding at the end of the draw period plus accrued interest and in no event shall the principal and interest payment be less than $100. If you only made minimum monthly payments and took no other credit advances, it would take 20 yrs. to pay off a credit advance of $25,000 with an initial interest rate of 4.75%. You would make 120 payments varying between $98.96 and $375.00 followed by 120 payments varying between $583.33 and $209.15. Valid for owner occupied 1-4 family residences and owner occupied residential condominiums located in MA. Minimum credit limit $10,000. Maximum credit limit is equal to 80% of the appraised value less existing 1st mortgage balance. Homeowners insurance and flood insurance (if applicable) are required. Early Termination Fee of $500 will be charged if the Home Equity Line is formally closed within 36 months of the original agreement. This offer may be withdrawn at any time. All loan applications are subject to credit underwriting and property approval. Other terms and conditions may apply. NBSB’s NMLS unique identifier is 641656.
2. Closing costs paid by NBSB. Appraisal fee, ranging from $100-$275, is required and paid by the Borrower. Discharge recording fee, if required, is paid by the Borrower.
Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).