* The Annual Percentage Rate (APR) will always be Prime minus .50% for the life of the loan; however, the APR can never go below the minimum of 3.00%. As of March 10, 2016, the APR is 3.00% based on the current Prime Rate of 3.50% as published in the Wall Street Journal; this rate may vary monthly. There is a maximum APR of 15.00%. Minimum line is $10,000. A prepayment penalty of $500 will be imposed for accounts closed within the first 24 months. Property insurance is required. Maximum loan to value is 80%, 70% for condos. Lines above $250,000 require 75% loan to value and a Property Appraisal. Cost of Property Appraisals range from $350 - $750 depending on the value of the home. Available to owner-occupied, single or two family properties in the state of Connecticut. Annual fee of $50 is waived for the first year. Restrictions may apply. Subject to credit approval. Offer may be withdrawn at any time. Other terms and conditions may apply. Flood Insurance may be required. Condos are subject to qualification. If you pay interest only, you still owe the amounts drawn and your monthly payment will increase when the interest-only period ends.