The Better Than Prime Home Equity Line

Some banks offer teaser or introductory rates to lure you in and then switch you to a much higher rate in three or six months. At CenterBank you get our best rate of Prime minus ¼%¹ up front and it continues for the life of the loan. No bait, no switch. The Better Than Prime Home Equity Line has a full range of benefits including:

• The “Better Than Prime” Interest Rate
  The interest rate on qualifying loans with a combined LTV of 80% or less is Prime minus1/4%.


• Maximum Flexibility
  Low interest-only minimum monthly payments for maximum budget flexibility. Of course you can pay more if you choose, even pay it in full at any time and reborrow the money at a later date. You pay interest only on the amount you borrow.


• Generous Credit Limits
  Credit limits of $5.000 to $250,000 are available based on the lendable equity in your home, your credit history and your annual income.


• Easy Access
  Access to your credit line is as easy as writing a special check that we provide, or requesting a telephone transfer to one of your CenterBank accounts.


• No Closing Costs.
  There are no closing costs with any new or existing CenterBank checking account, which saves you up to $250.


• Tax Deductible Interest
  The interest on your home equity line may be tax deductible – consult your tax advisor.


• Overdraft Protection
  At your option, we can link your home equity line to your CenterBank checking account and give you one less thing to worry about.

1 The interest rate on qualifying loans with a combined loan to value of 80% or less is Prime minus ¼%. This rate is determined by using the Wall Street Journal Prime Rate as an index and the rate may increase or decrease monthly based on changes to the Wall Street Journal Prime Rate. Loans with LTV’s higher than 80% will have higher rates.

All loans are subject to approval, including credit approval.