No closing costs: If you pay off and cancel the line of credit within 3 years, you must reimburse us the third-party fees paid in connection with opening the line. Fees paid to third parties generally total between $785 and $3,544 in New York. In Massachusetts, New Hampshire, Vermont and Pennsylvania, closing costs paid to third parties generally total between $628 and $2,341. Introductory rates: Rates shown are as of April 1, 2015. The 0.50% Annual Percentage Rate (APR) is an introductory rate for 6 months, and after that the rate can be as low as 3.25%. The APR after the introductory discount period is variable and may change monthly based upon changes in the prime rate but will not fall below 3.25% or exceed 15.90%. The Prime Rate is the highest Prime Rate published in the Wall Street Journal on the tenth day of the preceding month. To qualify: To qualify for the introductory rates: (1) NBT Bank must be in the first lien position on the property [the rate after discount period will be prime + 0.00% (currently 3.250%)]; (2) property must be a 1-4 family owner-occupied primary residence and cannot be an investment property, co-op, mobile home or manufactured housing; (3) the loan-to-value (LTV) ratio cannot exceed 80% if NBT Bank has the first lien position or if the request is for a junior lien position behind an NBT Bank first mortgage. (4) the borrower must have an Experian FICO score of 700 or greater; (5) payments must be made via automatic deduction from an NBT Bank checking or money market account; (6) a minimum line of $10,000 must be approved for a new home equity line of credit and advanced at closing. Customers with an existing home equity line of credit from NBT Bank must be approved for an additional $10,000 to qualify. Property insurance is required and flood insurance when necessary. Title insurance is required for all loans over $250,000 when the home equity is in a first lien position and may be required for loans with aggregation over $250,000 when the home equity is in a second lien position. See your tax advisor for details on the tax deductibility of interest. Offer subject to credit and collateral approval. This is not a commitment to lend. Additional terms and conditions may apply depending on the type of collateral, FICO score and other loan terms offered or chosen.
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