Attention Chesapeake Bank Family: We are excited to welcome you to our Family. For conversion related questions:
- Visit our welcome site
- Visit or call your local branch
- Call our Call Center at 410.668.4400 option 1
We look forward to providing solutions to your everyday banking needs.
Loans as high as 95% LTV, up to $250,000*
No closing costs*
10-year draw period
No initial advance
20-year repayment period
|Your Rosedale Federal HELOC Feature...||And What Makes It So Great!|
|Loans as high as 95% LTV, up to $250,000*||That’s a lot — we can help you figure out just how much that means for you. Whether it's paying for college tuition, paying off debt, or just wanting peace of mind for a rainy day. We're here to help!
|No closing costs*||More money in your pocket!|
|No initial advance||You don’t have to use any of the line until you’re ready — but you’ll know it’s there!
|10-year draw period
||Flexibility. What you take from your line, and when, is completely in your hands. Payment includes principal and interest.
|20-year repayment period
||Predictable payment over a longer repayment period.|
* Home Equity Line of Credit (HELOC) rates, terms, and conditions are subject to credit and property approval and may change without notice. Additional terms and conditions may apply. Eligible properties include first or second lien position owner-occupied 1-to-4-family properties and condominiums. Adequate property insurance is required, and flood insurance is required where necessary.
Variable Annual Percentage rate (APR) is based on the U.S. Prime Rate as published in the “Money Rates” table on the third Wednesday of the month in The Wall Street Journal. For loan-to-value (LTV) of 80% or less, the applicable APR is equal to the Prime Rate, currently 6.25%. For LTVs more than 80%, the applicable APR is equal to the Prime Rate plus a margin of 1.5%, currently 7.75%. The maximum APR that can apply is 18.00% and the minimum APR that can apply is 3.00%.
To open an account, you must pay certain fees to third parties (closing costs). These fees generally total between $0.00 and $2,273.00 based on a maximum loan amount of $250,000. You will be required to repay all closing costs that we paid on your behalf to third parties if the HELOC is terminated by you during the first two (2) years after your account is established. Upon request, we will provide you with an itemization of these closing costs. While there are no application, annual, or closing fees; late fees and returned payment fees may be charged as applicable.