Home Equity Line of Credit Rates

Today’s Rates

Home Equity Line of Credit (HELOC)


TypeAPR*Rate Parameters
10-Year Draw Period, followed by 15-Year Repayment Period6.25%Introductory rate of 1.99% for the first six months. Rate based on current prime rate plus a margin of 0.00% with a floor rate of 3.25%.

*Annual Percentage Rate (APR): Promotional rate of 1.99% 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. 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 with a maximum CLTV of 80% of the appraised value.

Home Equity Plus Line of Credit


TypeAPR**Rate Parameters
10-Year Draw Period, followed by 15-Year Repayment Period.7.75%No introductory rate option. Rate based on current prime rate plus a margin of 1.50% with a floor rate of 5.25%.

**Annual Percentage Rate (APR): Interest rate is a variable rate which is adjusted monthly based on the Prime Rate as published in the Wall Street Journal plus 1.50%. Minimum APR is 5.25% with a maximum APR of 18.00%. Rate quoted is for owner-occupied single-family properties and owner-occupied residential condominiums with a CLTV of 80.1% to 90%.

Fixed Rate Advance Loans


Home Equity Line of Credit Fixed Rate Advance with a Combined-Loan-to-Value of 80% or less:

Term Rate Annual Percentage RateMonthly Payment Per $1,000
5 Year4.25% 4.250% $18.53
10 Year4.375% 4.375% $10.30
15 Year4.625% 4.625% $7.71
20 Year4.875% 4.875% $6.53

Home Equity Plus Line of Credit Fixed Rate Advance with a Combined-Loan-to-Value of 80.01%-90%:

TermRate Annual Percentage Rate Monthly Payment Per $1,000
5 Years5.75% 5.75% $19.22
10 Years5.875% 5.875% $11.04
15 Years6.125% 6.125% $8.51
20 Years6.375% 6.375% $7.38

You can convert all or portion of your balance to a Fixed Rate during the term of the draw period. A maximum of three (3) Fixed Rate Advances are allowed at one time.

Prime Rate as of:9/22/20226.25%

The Cornerstone Bank Home Equity Line of Credit (HELOC) products have a variable periodic rate. Payment plans are 10 years interest only with a minimum monthly payment of $50.00 during the draw period, followed by 15-year repayment period of principal and interest payments. An early termination fee of $500.00 will be assessed at the time of payoff if the line of credit is closed within 36 months of the date of the Note. Property insurance is required.

Home Equity Line of Credit has a maximum Combined-Loan-to-Value (CLTV) ratio of 80% with an interest rate based on prime rate plus a margin of 0%. Home Equity Plus line of credit has a maximum CLTV ratio of 90% with an interest rate based on Prime rate plus a margin of 1.50%. Credit lines have a minimum line amount of $10,000. 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 $10,000 to qualify.  Lines from $10,000 to $250,000.00 have a maximum CLTV ratio of 90%. Lines from $250,001.00 to $350,000.00 have a maximum CLTV ratio of 70%. Chapter 61 properties have a maximum CLTV ratio of 70%. Full appraisal required at borrower’s expense for line amounts exceeding $250,000.00 and properties with two to four units, or over 10 acres of land or held in Chapter 61, 61A or 61B, fee refundable upon closing. Appraisal fees range from $500 to $690 depending on the type of property. The fee may be forfeited on withdrawn or denied applications.

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 as [Today’s Date] and is subject to change.