Put the equity in your home to work for you
(Limited to the Pennsylvania counties of Lehigh, Northampton, Carbon, Berks, Bucks, Montgomery, Lancaster, and Delaware)
Borrowing on the equity in your home may offer significant advantages. Our Home Equity Loans offer a fixed rate and term. If you are looking to make home improvements, plan a dream vacation, or consolidate your debt, a home equity loan may be your answer.
Our Home Equity Lines of Credit give you access to the money you need, when you need it. You have easy access to the funds by simply writing a check. A home equity line of credit is the perfect option if you are looking to make home improvements, a large purchase or to have available if something unexpected happens.
| Term | APR | Monthly Payment per $1,000 |
|---|---|---|
| 60 Months | 6.24% | $19.45 |
| 120 Months | 6.70% | $11.46 |
| 180 Months | 7.00% | $9.00 |
| Term | APR | Monthly Payment per $1,000 |
|---|---|---|
| 60 Months | 6.24% | $19.45 |
| 120 Months | 6.70% | $11.46 |
| 180 Months | 7.25% | $9.14 |
** Add 0.25% to the posted APR for loans with LTV ratios of 80.1% to 85%
The following apply to both the First Lien and Junior lien Home Equity Loans:
- Minimum loan amount:
- $5,000 for a term of 60 Months
- $10,000 for a term of 120 Months
- $15,000 for a term of 180 Months
- Maximum loan amount is $425,000
- APRs include 0.25% discount for automatic payment from an American Bank account. The APR and payment on your loan may increase if the automatic payment is discontinued
- Property must be an owner occupied 1 – 4 family residential property located within the Pennsylvania counties of Lehigh, Northampton, Carbon, Berks, Bucks, Montgomery, Lancaster, and Delaware with a first or second lien position
- No application or documentation fees. No closing costs for loans up to and including $425,000
- Borrower must pay mortgage satisfaction fees at loan termination
- Monthly payment does not include taxes or insurance. Actual payment obligation will be greater
- Interest may be tax deductible; consult your tax advisor
- Homeowner’s insurance is required. Flood insurance may be required
- If your home is on the market for sale at the time of application or your property is held in a Trust, you are not eligible for this offer
- APRs apply to loans $15,000 or greater
- Other APRs available for loans with similar terms and conditions
- Loans are subject to credit approval
- Rates, terms and conditions are subject to change and may be withdrawn at any time without notice
| 8.50% APR* Variable Rate Loan-to-Value: Up to 80%** With Auto Pay from an AMBK account |
8.75% APR* Variable Rate Loan-to-Value: 80.01% to 85%** |
|
*APR = Annual Percentage Rate
- The Home Equity Line of Credit has a 10-year draw period with interest only payments and a 15-year amortizing repayment period at a fixed rate based on the American Bank home equity loans rates at the start of the repayment period
- No annual fee for the life of the line
- No application or documentation fees
- No closing costs for loans up to $250,000.
- Loan amounts greater than $250,000 require Title Insurance and the applicable fees
- Free checks for easy access to your line of credit
- Minimum loan amount is $5,000
- Maximum loan amount is $425,000
- APRs w/ Auto Payment include a 0.25% discount for automatic payment from an American Bank account. The payment and APR without automatic payment will be higher.
- Property must be an owner occupied 1–4 family residential property located within the Pennsylvania counties of Lehigh, Northampton, Carbon, Bucks, Berks, Lancaster, Delaware, and Montgomery with a first or second lien position
- Property insurance is required
- Flood insurance may be required
- Interest may be tax deductible; consult your tax advisor
Fixed-Rate Option Guidelines:
- Once you close on a HELOC, you have the option to lock in a fixed interest rate for up to 15 years on some or all the money you borrow
- This can be done at any time during the draw period
- Maximum of three active fixed-rate locks on your HELOC at one time. Interest rates are equal to the American Bank home equity loan rates available at time of rate lock, for loans with similar features.
- Minimum loan amount for a lock-in conversion is $5,000
- Monthly payments for any fixed-rate lock options will include both principal and interest
- The outstanding principal balance will reduce the availability of the HELOC by an equal amount
- As fixed-rate locked balances are paid down, the available line of credit amount increases, and can be used during the draw period
- All fixed-rate lock option term loans must be paid in full when the HELOC is closed
- No annual fee
- No application or documentation fees
**The variable APR on the American Bank Home Equity Line of Credit is based on an Index and a Margin. The Index is based on the U.S. Prime Rate as quoted in the Wall Street Journal as published daily, plus either a Margin of 0.00% when the Loan-to-Value is up to 80% or plus a Margin of 0.25% when the Loan-to-Value is 80.01% to 85% for Home Equity Lines of Credit with automatic payment from an American Bank checking account. If automatic payment is discontinued or the borrower elects not to have the payment automatically deducted, the subsequent variable APR will increase by 0.25%. The minimum APR is 4.00% and the maximum APR is 18.00%.
Contact us for information about other APRs available with similar terms and conditions.
All loans and lines are subject to credit approval.
Rates, terms and conditions are subject to change and may be withdrawn at any time without notice