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Loan Interest Rates
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Home Equity Line of Credit Interest Rates
| Key Features | Rate Details |
|---|---|
| Prime Rate | As of 12/19/2024, Prime Rate was 7.50% APR |
| Annual Percentage Rate (APR) | This is a variable rate product, with a floor rate of 4.00%. Prime - 0.26% with auto pay ($25,000+)* Prime + 0.50% with auto pay ($6,500 - $24,999)* |
| Closing Costs | May be waived for lines up to $100,000, if no appraisal or title is required $590- $1,100 for up to $100,000, if an appraisal is required $590- $1,100 for Single Family ($100,001 to $300,000), or $845 - $1,300 for 2-4 Family Properties ($100,001 to $300,000) |
| Minimum Line | $6,500 |
| Annual Fee | $60 (May be waived) |
| Prepayment Fee | If the borrower terminates the loan during the first three years, a prepayment fee will apply. For HELOCs of $17,500 or greater the fee is $350. For HELOCs less than $17,500 the prepayment fee is $200. |
| Fixed Rate Loan Conversion Option |
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| Apply | |
The HELOC is a variable rate loan. Rates are subject to change daily. Your HELOC rate may vary based on: the amount of your credit limit, and whether your monthly HELOC payments are automatically debited from a North Shore Bank checking account. Paying the minimum interest only monthly payments will not repay the principal that is outstanding on your line; you will be required to pay the entire outstanding balance in a single payment (balloon payment) at the end of the initial loan term, at the end of any extensions or renewals granted by Bank, or when you terminate the line. The Bank’s HELOC loan has a ceiling rate (maximum) of 19.90% APR and a floor rate (minimum) of 4.00% APR. The Loan to Value (LTV) may not exceed 80%. Closing costs may be waived if no appraisal, title, or other outside services are required and HELOC amount does not exceed $100,000. Property insurance is required; flood and/or title insurance required if applicable on property. Product available on qualified owner occupied properties in Bank lending area. Subject to Bank credit qualifications, current property value and loan approval. Consult tax advisor regarding interest tax deductibility.
Conversion loan rates and terms will vary depending on whether the line of credit is a first or second lien, and they are only available through your line of credit loan conversion option (Maximum of 3 conversions at one time). Selecting an amortization schedule longer than your conversion loan term will result in a balloon payment of the entire outstanding conversion loan balance due in full at the end of your selected conversion loan term.
* When the floor is the base rate (4.00%), the rate structure will be 4.00%APR.
For a new home equity line of credit, the maximum loan to value (LTV) is 80% up to $400,000 in total liens in first or second position. For loan amounts over $400,000, the maximum LTV is dependent on lien position. Contact a lender for details.
Boat and RV Loan Interest Rates
| Annual Percentage Rate (APR) | 7.99% to 8.99% |
|---|---|
| Downpayment | 10% of financed purchase |
| Loan Repayment Term | 12 to 120 months (1 to 10 years) |
| Minimum Loan Amount | $5,000 |
| Maximum Loan Amount | $250,000 |
| Minimum Monthly Payments | $100 |
| Annual Fee | None |
| Closing Costs | Varies based on the type of collateral used. Ask for details. |
| Apply | |
North Shore Bank (Bank) offers installment loan programs to applicants for personal, boat, RV and miscellaneous loans to applicants residing and collateral located in its Wisconsin / Illinois market areas. Rates, terms, and features are for new loans, based on the type of equity and collateral offered, with repayment terms from 12 to 120 months (1 to 10 years). Rates are subject to change. The above rates are as of 11/21/2024 and may have changed. To check current rates, please contact our nearest branch. Based on the type of loan and repayment plan selected the monthly payment per $1,000 borrowed will range from $12.66 to $87.45. Minimum monthly payment will not be less than $100. Subject to approved credit. Credit Builder loan and loan amounts under $5,000 are available and not included in rates shown above. Ask for details.
