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Home Equity Line of Credit. Credit is Subject to Credit Approval. Annual Percentage Rate (APR) as of 3/13/2012 for new HELOC only. The promotional rate will not apply to any existing Summit Community Bank HELOC customers. After six months, the introductory rate will convert to a variable annual percentage rate. Maximum interest rate over the life of the loan is 18%. Minimum interest rate over the life of the loan is 4.75%. Annual percentage rate may increase after consummation. Bank will pay closing cost. However, if you close your account within three (3) years, we will add the closing cost to your payoff amount for the reimbursement of those fees. Total closing costs generally range from $100 to $1,300. Some restrictions may apply. Rates subject to change. Limited time offer. See your local branch for more details. Summit Community Bank will take a security interest in the property purchased or property identified in the loan. Property insurance is required and flood insurance may be required. *** Normal APR ranges from 4.75% APR - 6.25% APR based on your credit worthiness at the time of application.
