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Loan Products
Home Equity

An home equity loan can provide the cash you need to consolidate debt, make home improvements, pay college tuition, etc. Arundel Federal Savings Bank offers revolving home equity lines of credit as well as fixed rate/term home equity loans.

Home Equity Lines of Credit
  • Revolving line with check writing convenience
  • 5 year initial draw period (renewable)
  • 10 year repayment period
  • Interest only payments during draw period
  • Access up to 80% of the available equity in your home
  • Interest may be tax deductible (Consult your tax advisor)
  • No Closing Cost Option available (excludes city/county transfer tax)
    • Borrowers must take $10,000 advance at closing
    • Prepayment Penalty applies
Fixed Rate Home Equity Loans
  • Fixed interest rates
  • Fixed monthly payments
  • Terms up to 15 years
  • Access up to 80% of the available equity in your home
  • No Closing Cost Option available (excludes city/county transfer tax, prepayment penalty applies)

 

EQUAL CREDIT OPPORTUNITY ACT NOTICE

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, marital status, age (provided that the applicant has the capacity to enter into a binding contract), sex, handicap or familial status (having children under the age of 18), because all or part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with the law concerning this lender is the

Comptroller of the Currency, Customer Assistance Group, 
1301 McKinney St., Ste. 3450, Houston, TX 77010

 

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