Use the equity in your home to finance an addition, or even cover the cost of a dream vacation. A Home Equity Loan is ideal if you have a one-time, immediate borrowing need and like the idea of a fixed interest rate and fixed monthly payment. There is no application fee and Cardinal Bank will even pay all closing costs on new loans up to $250,000. Terms range from five to 15 years and are available for new loan applications between $25,000 and $750,000.
Available for 1st Trust & Home Equity Loans.
Home Equity Loans currently have a low interest rate of:
| 5.89% APR |
5-Year Term/15-Year Amortization |
| 5.99% APR |
10-Year Term/15-Year Amortization |
| 5.89% APR |
5 Years |
| 5.99% APR |
10 Years |
| 6.09% APR |
15 Years |
Please call the Cardinal Loan Center at 703.246.7347 or stop by one of our conveniently located offices for more information.
Home Equity Loans
** Terms and conditions: Annual Percentage Rates (APR) effective as of 1-10-12 and are subject to change. Available for principal residences only located in the Washington metropolitan area. Cooperatives and purchase money loans are not eligible. A direct debit of minimum monthly payments from a Cardinal Bank deposit account is required to obtain these products at these rates. Rates apply to loan-to-value ratios of up to 80% when the appraised value is $750,000 or less and 75% when the appraised value is $750,001 to $1,250,000. Home Equity Loan is 5.89% APR for a 5-year term, 5.99% APR for a 10-year term and 6.09% APR for a 15-year term with monthly amortized payments of interest and principal. Payment Examples: $25,000/5-year term would result in 60 payments of $482.04. $25,000/10-year term would result in 120 payments of $277.44. $25,000/15-year term would result in 180 payments of $212.21. $25,000/10-year home equity loan at a 5.99% APR would have 119 monthly payments of $210.86 (based on a 15-year amortization) and a final estimated balloon payment of $11,120.74 at maturity. $25,000/5-year home equity loan at a 5.89% APR would have 59 monthly payments of $209.51 (based on a 15-year amortization) and a final estimated balloon payment of $19,175.97 at maturity. APRs reflect 0.25% discount for automatic debit from a Cardinal Bank checking account. Property insurance is required. No closing costs offer is for standard loans up to $250,000. If you close your account within 36 months, closing costs must be reimbursed. The minimum loan amount is $25,000. Offers subject to credit approval and are for new accounts only. Other products and terms may exist for applications which do not qualify under above conditions. Interest paid on home equity accounts may be tax deductible. Consult your tax advisor regarding tax advantages.
