A fixed rate home equity loan provides the money you need right now with a budget-friendly regular monthly payment amount. At a 4.500% interest rate, the APR for this loan type is 4.500%. The monthly payment schedule would be:
239 payments of $316.32 at an interest rate of 4.500%
1 payment of $317.38 at an interest rate of 4.500%
This payment stream is based on a $50,000 loan in Bristol County, MA.
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. (and Flood insurance if applicable) Minimum FICO score of 680 and maximum debt to income service of 43%, Maximum Loan to Value 80%. Rate shown reflects mandatory Automatic Loan Payment from a BankFive consumer checking account. Available for primary residences located in MA or RI.