Home Equity Rate

​​​Additional Rate and Fee Information

Bankers Trust offers both closed-end and open-end credit secured by the equity in your home. For qualified borrowers different terms and conditions may apply based on loan to value. For all of our home equity loans, the following apply. 

  • Loan to value is the amount of all mortgages divided by the value of the security expressed as a percentage.
  • Illustrative Annual Percentage Rates (APRs) applies only to loans secured by owner-occupied real estate and is available for a limited time only.
  • Maintaining a primary checking account with Bankers Trust allows for a reduction in the interest rate charged. (A primary checking account shall mean the account in which the borrower's routinely deposits the majority of his/her income or benefits from any source, and against which he/she routinely authorizes payment of the majority of his/her expenses each calendar month.)
  • Property insurance is required.
  • Approximate appraisal fees are $350.00 to $1,000.00.
  • Other loan fees are approximately $170.00 to $300.00
  • Please consult a tax advisor regarding deductibility of interest.

 

Closed-End Home Equity Monthly Installment – Fixed Rate

 

Loan to Value

Maximum Term

APR* Without Primary Checking

APR* With Primary Checking

 Up to 90%

60 Mo

 5.003%

 4.002%**

Up to 90%

120 Mo

 5.253%

 4.252%

Up to 90%

180 Mo

 5.503%

4.502%

 

* The APRs listed in the table above are effective as of October 10, 2017, and are subject to change without notice.  An APR discount of 1.00% is available for maintaining a Bankers Trust Primary Checking Account during the term of the loan.  The above APRs are available for a limited time only.  Other rates and terms are available, but restrictions may apply.  Stop in or call today for Closed-End Home Equity Loan terms.

 
Illustrative Example

 
** The APR of 4.002% is based on a loan amount of $25,000 for 5 years (60 months). Payment for this APR is 59 payments of $460.44 and a final payment of $460.23. This APR reflects a discount of 1.000% for maintaining a Bankers Trust primary checking account with lender during the term of the loan. (If the borrower fails to maintain a primary checking account for any reason, or if the lender closes the primary checking account as a result of abuse or fraud, the APR for the borrower's loan will increase by 1.00% for the remaining time of the loan. Any such rate increase will be manifested by higher loan payment amounts of which the borrower(s) will be notified in writing at least 30 days before the due date of the adjusted payment advising the borrower(s) of the higher payment amount required. Such notice will contain information about the adjusted interest rate, the new payment amount and the borrower's loan balance.)  If the interest rate increased by 1.00% 30 days after the loan is executed, the regular payments would increase to $478.85.  


Open-End Home Equity Lines of Credit- Variable Rate

Loan to Value

Term

APR* Without Primary Checking

APR* With Primary Checking

Repayment 

 Up to 90%

60 Mo

 6.250%

 5.250%

Interest Only Payments​

Up to 90%

120 Mo

 6.500%

 5.500%**

1/2% of the Outstanding Balance plus all accrued Finance Charges or $100 + all accrued Finance Charges, whichever is greater. ​

 

* The APRs listed in the table above are effective as of December 1, 2015, and are subject to change without notice.  The APRs of 4.500% reflect a discount of 1.00% for maintaining a Bankers Trust Primary Checking Account during term of the loan. The above APRs are available for a limited time only.  Other rates and terms are available, but restrictions may apply.  There is a $15.00 annual fee on all our open-end Home Equity Lines of Credit (HELOC) products.   Stop in or call today for HELOC terms.
 
Illustrative Example 
 
** The 120 month HELOC with APR of 4.500% is specifically based on a $10,000 loan amount with variable rate feature and an 89.9% or less loan to value.  Minimum monthly payments are due for 119 payments with final payment of any remaining Principal Balance plus interest.  This APR reflects a discount of 1.00% for maintaining a Bankers Trust checking account with lender during the term of the loan.  (If the borrower fails to maintain a primary checking account for any reason, or if the lender closes the primary checking account as a result of abuse or fraud, the already variable APR for the HELOC will increase by 1.00% without further notice to borrower(s).)  The minimum monthly payments are determined as 0.500% of your outstanding balance plus all accrued Finance Charges or $100.00, whichever is greater. If you made only the minimum payment and took no other credit advances, it would take 8 years and 4 months to pay off a credit advance of $10,000 at an APR of 5.500%.  During this time period, you would make 100 monthly payments ranging from $100.45 to $146.71. The minimum payment may not fully repay the principal that is outstanding on your HELOC and your final payment will be a single balloon payment. An increase in the APR may increase the amount of your Regular Payment. The variable rate is based on the highest Prime Rate published each day in The Wall Street Journal Money Rates Table (the "index") plus a 2.00% margin. The Prime Rate has been 3.50% since December 17, 2015.   If you do not have a primary checking account, your APR will be a 2.00% margin above the Prime Rate index.  An interest rate discount of 1.00% is available for maintaining a Bankers Trust primary checking account with lender during the term of the loan.  However, the Bank's floor rate of 4.000% remains the lowest APR available for our HELOC products to applicants who have a primary checking account. Your APR can change daily but will not exceed 21.000% during the term of the plan
* The APRs listed in the table above are effective as of October 10, 2017, and are subject to change without notice.  The APRs of 5.250% and 5.550% reflect a discount of 1.00% for maintaining a Bankers Trust Primary Checking Account during term of the loan. The above APRs are available for a limited time only.  Other rates and terms are available, but restrictions may apply.  There is a $15.00 annual fee on all our open-end Home Equity Lines of Credit (HELOC) products. Stop in or call today for HELOC terms.
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