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Home Equity Lines of Credit

Home Equity Line of Credit Rates

Home Equity Line of Credit PromotionAnnual Percentage Rates (APR) current as of October 23, 2021
2.49% APR* Introductory Fixed Rate for the First 6 months 3.25% APR* Variable Rate thereafter
Learn More Apply Now

  *APR = Annual Percentage Rate

$5,000 Minimum Credit Line
Maximum Loan-to-Value: 80%
Rates include a discount for automatic payment

Home Equity Line of Credit features:

To get the American Bank Home Equity Line of Credit 2.49% fixed introductory APR and variable APR shown, you must have or open an American Bank checking account.  Promotional rates include a discount for automatic payment from an American Bank checking account which must be established on or before Home Equity Line of Credit is opened. If a borrower does not want to open an American Bank checking account and have automatic payment, the borrower would not be eligible for the introductory rate. Maximum credit line amount is $425,000. All APRs assume that total loans, including your American Bank line secured by an owner occupied 1-4 family residential property located within the Pennsylvania counties of Lehigh, Northampton, Carbon, Berks, Bucks, Montgomery, Lancaster, Delaware, Philadelphia, and Chester, do not exceed 80% of the value of that property for a first or second lien.  Property insurance is required.  Flood insurance may be required.

The 2.49% fixed introductory APR applies to new lines of credit of $5,000 or more and is for the first 6 months of the loan.  You are not eligible for the introductory rate offer if you currently have an American Bank Home Equity Line of Credit or had an introductory rate during the last 2 years, you are refinancing existing American Bank debt, your home is on the market for sale at the time of application or your property is held in a Trust.

After the introductory period, the APR will be a variable APR 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 a Margin of 0.00% for home equity lines of credit with automatic payment from an American Bank checking account.  If automatic payment is discontinued, your subsequent variable APR will increase by 0.25% after the introductory period.  The minimum APR is 3.25% and the maximum APR is 18.00%. 

Closing costs are estimated to range between $95 and $945. American Bank will pay closing costs for lines up to and including $425,000, except borrower pays mortgage satisfaction fees upon termination of the line and any applicable taxes and insurance. Interest may be tax deductible; consult your tax advisor. Contact us for information about other APRs available with similar terms and conditions.  This offer, rates, terms and conditions are subject to change without prior notice. All loans and lines are subject to credit approval.

 

Home Equity Line of CreditAnnual Percentage Rates (APR) current as of October 23, 2021
3.25% APR* Variable Rate
Loan-to-Value: Up to 80%**
3.50% APR* Variable Rate
Loan-to-Value: 80.1% to 85%**
Learn More Apply Now

 *APR = Annual Percentage Rate

$5,000 Minimum Credit Line
Rates include a discount for automatic payment

Home Equity Line of Credit features:

To get the variable APRs you must open a credit line of at least $5,000 and have or open an American Bank checking account; the variable rate includes a discount for automatic payment from an American Bank checking account that must be established on or before the Home Equity Line of Credit is opened. If a borrower does not want to open an American Bank checking account and have automatic payment, the borrower would not be eligible for the discounted rate.  Maximum line amount is $425,000.  All APRs assume that total loans including your American Bank line, secured by an owner occupied 1-4 family residential property located within the Pennsylvania counties of Lehigh, Northampton, Carbon, Berks, Bucks, Montgomery, Lancaster, Delaware, Philadelphia, and Chester, do not exceed 85% of the value of that property for a first or second lien.  Property 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. 

**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 80.1% 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 3.25% and the maximum APR is 18.00%.

Closing costs are estimated to range between $95 and $945. American Bank will pay closing costs for lines up to and including $425,000 except borrower pays mortgage satisfaction fees upon termination of the line and any applicable taxes and insurance. Interest may be tax deductible; consult your tax advisor. Contact us for information about other APRs available with similar terms and conditions.  This offer, rates, terms and conditions are subject to change without prior notice. All loans and lines are subject to credit approval.

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