Leader Bank’s Premier Home Equity Line of Credit Program

This Home Equity Line of Credit Program allows borrowers who require standalone and second mortgage financing to combine a traditional first mortgage with a Leader Bank second mortgage, potentially avoiding higher cost non-conforming financing options. Includes auto-pay from a Leader Bank checking account for added convenience.

2.99% APR*

70% CLTV

FIXED FOR 1 YEAR

THEN

PRIME** – 0.5%
(currently 4.75% APR*)

FOR THE LIFE OF THE LINE

3.49% APR*

80% CLTV

FIXED FOR 1 YEAR

THEN

PRIME** – 0.5%
(currently 4.75% APR*)

FOR THE LIFE OF THE LINE

 


Terms & Conditions

  • Min loan amount $25,000; Max loan amount $300,000
  • Massachusetts properties only
  • Minimum FICO of 720
  • Maximum debt to income ratio of 43%
  • 1-2 Units and Condos, owner-occupied
  • Requires auto-pay from a Leader Bank checking account

 

 

*Annual Percentage Rate (APR) will not increase during the first year. Minimum loan amount $25,000 and Max loan amount $300,000. 80% Max CLTV. 15 year repayment period following the 10 year draw. Massachusetts properties only. U.S. Citizens and Permanent Residents only. Primary residence. If in a Trust a $300 Trust Review Fee applies. $500 early termination fee if less than 2 Years. $450 closing fee waived if $25,000 drawn for minimum of 90 days. Requires “auto-pay” with a Leader Bank checking account, otherwise intro rate, margin and floor rate will be 0.25% higher. **Prime is a variable rate index subject to change at any time, as published by the Wall Street Journal. Floor rate of 3.75% APR. The maximum APR that can be charged for this account is 18.00% unless otherwise restricted by applicable law. Homeowners insurance required. Prime APR provided effective as of 1/15/20. New customers only. Other restrictions may apply. Contact a Leader Bank representative for complete details.