Countybank's Spring Fixed-Rate Home Equity Loan Special

It's no secret. It seems like everything is going up. Gas prices are crazy. Every trip to the grocery store is another shock. Now, we see reports in the papers that the Federal Reserve getting nervous about inflation. And when the Fed gets nervous about inflation, they raise interest rates. Experts now predict that we'll see rising rates as early as this fall. When the Fed raises rates, prime goes up. If you have variable-rate debt, such as credit cards or home equity lines of credit that are linked to prime rate, that means you will see your payments going up, too.

So how can you protect yourself from rising interest rates? Lock in a low fixed-rate home equity loan from Countybank! Rates are as low as 6.99% APR* for up to 15 years, there's no application fee and we'll give you a $250 credit towards closing costs. Unlike variable rate loans your payment will never change, so you'll have the peace of mind that comes with knowing you can control your borrowing costs in these uncertain economic times.

*Annual Percentage Rate. Rates are based on each customer's individual credit history and assume a loan-to-value ratio of 80% or less. Minimum loan is $25,000.

How do I calculate my LTV?

To calculate your loan-to-value at 80% or less, take the value of your home times 80%. Then subtract any amount you still owe on your first mortgage. The remainder is the amount you have available to borrow. Other rates available for higher LTVs.

LTV Example:

Home value
$200,000
X .80 =
$160,000
Minus outstanding 1st mortgage
-$89,000
Available equity
$71,000

If you'd like to see what your payments would be, click here to go to our loan calculator. If you're ready to get started on your spring project, or consolidate credit card debt, or just have questions, please call us at (864) 942-1500, toll-free at 1-800-726-8689, or email us at: personalbanking@ecountybank.com


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