Home Equity Line of Credit Products

Home Equity Line of Credit

New introductory fixed rate of 5.99% APR* for the first 6 months, thereafter, variable rates as low as 7.50% APR*.

Our Home Equity Line of Credit allows you to tap into your home’s equity in the most flexible manner. You can draw from this line of credit as you need it, make payments and then take out money again, all at competitive rates. This option also allows funds that are drawn to be converted to a Fixed Rate any time during the draw period!

Learn more about our HELOC requirements and benefits.

Home Equity Plus Line of Credit

Our Home Equity Plus Line of Credit offers extended flexibility! Allowing financing up to 90% of your primary residence’s value. This option also allows funds that are drawn to be converted to a Fixed Rate any time during the draw period!

Learn more about our HELOC Plus requirements and benefits.

Home Equity Line of Credit for Investment Properties

Our Home Equity Line of Credit will now allow you to access the equity in your Investment Properties! Allowing you to draw up to 70% of your Investment Property Value, at competitive rates! This option also allows funds that are drawn to be converted to a Fixed Rate any time during the draw period!

Learn more about our HELOC requirements and benefits.

*Annual Percentage Rate (APR): Promotional rate of 5.99% is fixed for the first six months, followed by a variable rate which is adjusted monthly based on the Prime Rate as published in the Wall Street Journal minus 1.00%. Prime is currently 8.50%. Minimum APR is 3.25% with a maximum APR of 18.00%. Rate quoted is for owner occupied 1-4 family properties, owner occupied residential condominiums and second homes. Payment plans are 10 years interest only with a minimum monthly payment of $50 during the draw period, followed by 15 year repayment period of principal and interest payments. Minimum line amount is $10,000 with a maximum line amount of $350,000. Maximum combined loan to value (CLTV) is 80% of the appraised value for a line amount up to $250,000 and 70% CLTV for a line amount between $250,001 and $350,000, or if property has a chapter 61, 61A or 61B lien. Property insurance is required. An early termination fee of $500 will be assessed at the time of payoff if the line of credit is closed within 36 months of the date of the Note. For loan requests below $250,000, the Bank will use its standard method to determine the value at no cost. You have the option to pay for a full appraisal if you choose to. Full appraisals are also required at borrower’s expense for lines above $250,000, if the property is a 2-4 family, if the property has over 10 acres or if the property is held in a chapter 61, 61A or 61B lien; fees vary from $500 to $690 depending on the type of property.The fee may be forfeited on withdrawn or denied applications. For loan requests less than $250,000, the standard closing and recording costs will be paid by the Bank. For loan requests greater than $250,000, borrower is responsible to pay all closing costs. Loan offer is subject to credit approval and other terms and conditions apply. Consult a tax advisor regarding the deductibility of interest. This offer may be withdrawn at any time. Rate is effective 8/1/2024 and is subject to change. Existing Cornerstone Bank Home Equity Line of Credit customers must apply for and be approved for an increase in their current line by at least $20,000 to qualify.