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With rates currently as low as 4.49% variable APR, * it's a smart way to borrow.
The amount of your credit line that you don't convert to a fixed rate will remain available to use like a traditional line of credit at a low, variable rate.
In either case, you'll only pay interest on the amount of money you actually use.
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With rates currently as low as 4.24% variable APR, * it's a smart way to borrow.
The amount of your credit line that you don't convert to a fixed rate will remain available to use like a traditional line of credit at a low, variable rate.
In either case, you'll only pay interest on the amount of money you actually use.
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With rates currently as low as 3.99% variable APR, * it's a smart way to borrow.
The amount of your credit line that you don't convert to a fixed rate will remain available to use like a traditional line of credit at a low, variable rate.
In either case, you'll only pay interest on the amount of money you actually use.
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First lien home equity loans are not available on NY properties. FlexLock accounts must be in first or second lien position on your NY property. |
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Minimum monthly payment may vary each month based on the unpaid balance and the Prime Rate. Although a principal payment is not required during the draw period, it is recommended in order to reduce the balance owed. |
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To get the APR shown, you must have or must open a Sovereign checking or money market savings account, and elect automatic payment deductions from the account. The APR on your line may increase after you obtain credit if you close or discontinue automatic payment from that account. The APR assumes that your total mortgage loans, including your home equity line of credit, do not exceed 80% of the appraised value of your 1-4 family owner-occupied home located in PA, NJ, CT, RI, DE, VA, NH and MA. Property insurance is required. Flood insurance may be required. Account use is subject to the terms of the Sovereign Home Equity Line of Credit Agreement including terms that permit lines to be suspended, reduced or terminated in certain circumstances. If your home is on the market for sale at the time of application, you are not eligible for this offer. A non-refundable trust review fee of $175.00 will be charged only if your property is held in a trust.
Variable rates on Flexlock Home Equity Lines of Credit are subject to change and may vary monthly based on the latest U.S. Prime Rate as published in the Money Rates section of the Wall Street Journal on the first business day of the month, plus a margin of +.74% for lines of $100,000 and above (currently 3.99% APR), a margin of +1.24% for lines of $25,000-$99,999 (currently 4.49% APR), a margin of +1.49% for lines of $10,000-$44,999 (currently 4.74% APR.) Maximum APR is 18%. Minimum APR is 3.24%. Other rates and terms apply to non-owner occupied properties. There is a $220 termination fee if you close the line within 30 months. An annual fee, if any, will be charged during the Draw Period. The amount of the fee will be $0, $25 or $50, depending on the type of Sovereign Bank deposit account you maintain, and may change if the type of deposit account is changed by you. Your annual fee will be waived (i.e., will equal $0) as long as you maintain a Sovereign Premier, Business Owner Premier, Premier Partnership, Team Member Private or Team Member Checking Account or Premier Money Market Savings Account. An annual fee of $25 will be charged as long as you maintain a Sovereign Preferred or Preferred Partnership Checking Account or Preferred Money Market Savings Account. An annual fee of $50 will be charged if you do not maintain one of the deposit account types named above.
If the Fixed Rate Lock Option is elected, the fixed APR will be determined based on the loan amount, term and other factors at the time lock-in is requested and applies only to the portion of your line that has been locked in at a fixed rate. Lock rates differ from the current variable rates described above. There is a $50 fixed rate lock fee for each lock-in request, which is waived through December 2010. Fixed rate locks are subject to the terms and conditions explained in your loan documents, and must be repaid over a fixed term in substantially equal monthly payments of principal and interest. |
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To get the APR shown, you must have or must open a Sovereign checking or money market savings account, and elect automatic payment deductions from the account. The APR on your line may increase after you obtain credit if you close or discontinue automatic payment from that account. The APR assumes that your total mortgage loans, including your home equity line of credit, do not exceed 80% of the appraised value of your 1-4 family owner-occupied home located in NY or MD. Property insurance is required. Flood insurance may be required. Account use is subject to the terms of the Sovereign Home Equity Line of Credit Agreement including terms that permit lines to be suspended, reduced or terminated in certain circumstances. If your home is on the market for sale at the time of application you are not eligible for this offer. A non-refundable trust review fee of $175.00 will be charged only if your property is held in a trust.
Variable rates on Flexlock Home Equity Lines of Credit are subject to change and may vary monthly based on the latest U.S. Prime Rate as published in the Money Rates section of the Wall Street Journal on the first business day of the month, plus a margin of +.1.24% for lines of $100,000 and above (currently 4.49% APR), a margin of +1.74% for lines of $25,000-$99,999 (currently 4.99% APR), a margin of +1.99% for lines of $10,000-$24,999 (currently 5.24% APR.) Maximum APR is 18%. Minimum APR is 3.24%. Other rates and terms apply to NY co-ops and non-owner occupied properties. If your home is located in NY or MD, mortgage recording tax will be paid by Sovereign, but must be reimbursed if the line is closed within 36 months in NY and 24 months in MD. There is a $220 termination fee if you close the line within 30 months. An annual fee, if any, will be charged during the Draw Period. The amount of the fee will be $0, $25 or $50, depending on the type of Sovereign Bank deposit account you maintain, and may change if the type of deposit account is changed by you. Your annual fee will be waived (i.e., will equal $0) as long as you maintain a Sovereign Premier, Business Owner Premier, Premier Partnership, Team Member Private or Team Member Checking Account or Premier Money Market Savings Account. An annual fee of $25 will be charged as long as you maintain a Sovereign Preferred or Preferred Partnership Checking Account or Preferred Money Market Savings Account. An annual fee of $50 will be charged if you do not maintain one of the deposit account types named above.
If the Fixed Rate Lock Option is elected, the fixed APR will be determined based on the loan amount, term and other factors at the time lock-in is requested and applies only to the portion of your line that has been locked in at a fixed rate. Lock rates differ from the current variable rates described above. There is a $50 fixed rate lock fee for each lock-in request, which is waived through December 2010. Fixed rate locks are subject to the terms and conditions explained in your loan documents, and must be repaid over a fixed term in substantially equal monthly payments of principal and interest. |
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To get the APR shown, you must have or must open a Sovereign checking or money market savings account, and elect automatic payment deductions from the account. The APR on your line may increase after you obtain credit if you close or discontinue automatic payment from that account. The APR assumes that your total mortgage loans, including your home equity line of credit, do not exceed 80% of the appraised value of your 1-4 family owner-occupied home located in NY or MD. Property insurance is required. Flood insurance may be required. Account use is subject to the terms of the Sovereign Home Equity Line of Credit Agreement including terms that permit lines to be suspended, reduced or terminated in certain circumstances. If your home is on the market for sale at the time of application you are not eligible for this offer. A non-refundable trust review fee of $175.00 will be charged only if your property is held in a trust.
Variable rates on Flexlock Home Equity Lines of Credit are subject to change and may vary monthly based on the latest U.S. Prime Rate as published in the Money Rates section of the Wall Street Journal on the first business day of the month, plus a margin of +.99% for lines of $100,000 and above (currently 4.24% APR), a margin of +1.49% for lines of $25,000-$99,999 (currently 4.74% APR), a margin of +1.74% for lines of $10,000-$24,999 (currently 4.99% APR.) Maximum APR is 18%. Minimum APR is 3.24%. Other rates and terms apply to NY co-ops and non-owner occupied properties. If your home is located in NY or MD, mortgage recording tax will be paid by Sovereign, but must be reimbursed if the line is closed within 36 months in NY and 24 months in MD. There is a $220 termination fee if you close the line within 30 months. An annual fee, if any, will be charged during the Draw Period. The amount of the fee will be $0, $25 or $50, depending on the type of Sovereign Bank deposit account you maintain, and may change if the type of deposit account is changed by you. Your annual fee will be waived (i.e., will equal $0) as long as you maintain a Sovereign Premier, Business Owner Premier, Premier Partnership, Team Member Private or Team Member Checking Account or Premier Money Market Savings Account. An annual fee of $25 will be charged as long as you maintain a Sovereign Preferred or Preferred Partnership Checking Account or Preferred Money Market Savings Account. An annual fee of $50 will be charged if you do not maintain one of the deposit account types named above.
If the Fixed Rate Lock Option is elected, the fixed APR will be determined based on the loan amount, term and other factors at the time lock-in is requested and applies only to the portion of your line that has been locked in at a fixed rate. Lock rates differ from the current variable rates described above. There is a $50 fixed rate lock fee for each lock-in request, which is waived through December 2010. Fixed rate locks are subject to the terms and conditions explained in your loan documents, and must be repaid over a fixed term in substantially equal monthly payments of principal and interest. |
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Your privacy is important to us. The email form in this section of the Website is not secure, so please do not submit any information you consider confidential such as Social Security Number or Account Numbers. Please include name, address, and telephone number so we may respond to you.
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Be sure to call our loan rate hotline at 877-4-SOV-LOAN or email us at sdnet@sovereignbank.com for rate confirmation. You should consult with your tax advisor concerning tax implications. |
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The rate and payment calculations provided herein are based on answers you provided and assumptions that may include:
1. That this property is your primary residence
2. That you would like to receive the lowest rate possible by having your monthly payments automatically deducted from your qualifying Sovereign Bank deposit account through electronic payment
3. The estimated value of your home
4. Remaining balances on your first mortgage
5. That there are no other mortgages currently on this property
Loan or line of credit amount quoted is solely based on equity assumed to be available in your home and does not consider other qualifying factors. The maximum amount we can lend you depends on the value of your home, your income, amount of debt, credit history and other factors. All applications are subject to credit approval. This is not an offer of credit, and is intended for informational purposes only.
A formal application for credit is needed to allow Sovereign Bank to make an offer of credit. Rates and other terms are accurate as of the date indicated above, and are subject to change thereafter. |
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Sovereign Bank, its logo and Flexlock are registered trademarks of Sovereign Bank or its affiliates or subsidiaries in the United States and other countries. |
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Equal Housing Lender - Member FDIC
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