The Role of Private Mortgage Insurance (PMI)
When you buy a home, your monthly payment is based on more than the purchase price. Some will go toward taxes and interest, while another
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A HELOC gives you access to funds as needed, similar to a credit card. You borrow what you need, when you need it, and only pay interest on the amount you use.
If you know exactly how much you need, a fixed-rate loan provides a lump sum with predictable monthly payments and a rate that never changes.
Start Your Homeownership Journey with Confidence
At Fidelity Bank, we believe borrowing should be simple, personalized, and built around your needs. Our C.A.R.E. Process ensures that we take the time to understand your financial goals and provide clear, tailored solutions to help you move forward with confidence.
Connect with a Home Lending Specialist today and let’s build a plan to help you find the perfect home.
No matter your goal, Fidelity Bank is here to help you move forward with confidence.
| Product | Interest Rate | APR | Payment/$1000 |
|---|---|---|---|
| 6-Month Introductory Rate Home Equity Line** | 5.99% for 6 months then Prime minus .50% for life of loan*** | 8.000% | $3.33 |
| 5 YR Home Equity Loan | 6.740% | 6.740% | $19.68 |
| 10 YR Home Equity Loan | 6.990% | 6.990% | $11.61 |
| 15 YR Home Equity Loan | 7.490% | 7.490% | $9.26 |
| 20 YR Home Equity Loan | 8.000% | 8.000% | $8.36 |
When you buy a home, your monthly payment is based on more than the purchase price. Some will go toward taxes and interest, while another
Many of us dream of becoming homeowners. But is that actually the best decision for your financial future? When it comes to renting vs. buying
The average U.S. home now sells for over $500,000. That can mean a monthly mortgage payment of $2,700 or more. Given these costs, it’s easy to see
*Home equity lines and loans are available on 1-2 family owner-occupied homes and condominiums only. Loans available from $10,000 and up. You may borrow up to 100% combined loan to value; Loans exceeding 75.01% Combined Loan to Value (CLTV) may have higher rates and terms and require PMI. Property insurance required.
**Annual Percentage Rates (APR) accurate as of 9/19/2024. The introductory APR of 5.99% APR will be in effect for the first 6 months of your loan. After the introductory rate period, the subsequent Annual Percentage Rate (APR) will adjust monthly based on the highest Wall Street Journal published Prime Rate on the last business day of each month. Introductory APR only available to clients: without an existing Fidelity Bank home equity line or loan; with an existing or new CareChecking account; and with an automatic payment deduction from a Fidelity Bank Checking Account. Subsequent APR is prime minus .50%, prime minus .625 % with CareMore or SecureCare Checking, or prime minus .75% with CompleteCare Checking. Rate will never exceed 18% APR or drop below 4.00% APR. Available on 1-2 family owner-occupied homes and condominiums only. Loans available from $10,000 and up. You can borrow up to 100% of the equity you have in your home. Loans exceeding 75.01% Combined Loan to Value (CLTV) may have higher rates and require Private Mortgage Insurance (PMI). Property insurance required. There is an annual fee of $50.00. Interest begins to accrue when funds are advanced from line of credit. If the line is closed within 3 years, the Bank’s closing costs must be repaid. Interest may be tax-deductible. Please consult your tax advisor. All loans are subject to credit approval. Other restrictions may apply. Offers subject to change or termination at any time.
*** WALL STREET JOURNAL PRIME RATE IS 7.500% (updated as of 12/19/2024)
Routing # 211370707 | NMLS # 452347 | Phone: 800.581.5363
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