No closing costs: If you pay off and close 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 $469 and $3,369 in New York. In Massachusetts, New Hampshire, Vermont and Pennsylvania, closing costs paid to third parties generally total between $337 and $753. Introductory Rates: Rates shown are as of March 1, 2016. The 0.50% Annual Percentage Rate (APR) is an introductory rate for 6 months. 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. To Qualify: To qualify for the introductory rates: (1) the Home Equity Line of Credit must be in the first lien position on the property; (2) property must be a 1-4 family owner-occupied primary residence or single-family second home and cannot be an investment property, co-op, mobile home or manufactured housing; (3) the loan-to-value (LTV) ratio cannot exceed 80%; (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. The borrower must pay the title insurance premium even when NBT Bank pays the other closing costs. 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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