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Member FDIC Equal Housing Lender

* The Annual Percentage Rate (APR) may vary daily and will be based on the Prime Rate as listed in the Wall Street Journal (Prime) plus a margin. As of 8/20/20 the Prime Rate is 3.25%. Minimum Line of Credit is $25,000. For HELOCs of $25,000 - $49,999 the APR will be Prime +.50%, currently 3.75% APR. For HELOCs of $50,000 - $1,499,999 the APR will be Prime +.25%, currently 3.50% APR. The APR will not be less than 3.00% APR or more than 18% APR. All APRs reflect a .26% auto-pay discount from a BankRI checking account. In some instances, the APR calculation used could result in a fully indexed APR below the minimum APR of 3.50%. If this occurs, your APR will not be less than 3.00%. Property hazard insurance required. Early termination fee of $250 or 2% of the HELOC's credit limit, whichever is less, applies if HELOC terminates within 12 months of closing. 20 year draw period followed by a 20 year repayment period for 1 to 4 family owner occupied/second homes. Other terms and conditions and restrictions may apply. Offer subject to change without notice. Consult a tax advisor for further information regarding the deductibility of interest and charges.

2 No closing costs except for properties held in a trust. Typical fees to open HELOC when the property is held in trust are approximately $175 per trust.  Additional fees may apply for Power of Attorney.

NMLS ID# 410623

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