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Home Equity Line of Credit Interest Rates

Key Features 86% or Less Loan to Value
Prime Rate As of 10/11/2018, Prime Rate was 5.25% APR.
Annual Percentage Rate (APR) Prime + 0.50% with auto pay ($50,000 - $250,000) or Prime + 1.00% without auto pay
Prime + 1.00% with auto pay ($25,000 - $49,999) or Prime + 1.50% without auto pay
Prime + 1.50% with auto pay ($5,000 - $24,999) or Prime + 1.75% without auto pay
Fully Indexed APR Rate Equals the current daily published Prime Rate
Closing Costs May be waived for lines up to  $100,000, if no appraisal or title is required
$445 - $750 for up to $100,000, if an appraisal is required 
$445 - $750 for Single Family ($100,001 to $250,000), or
$645 - $1,100 for 2-4 Family Properties ($100,001 to $250,000)
Line Minimum Line/Maximum Line $5,000 - $250,000
Auto Pay Establish automatic payments from your North Shore checking account to receive a 0.50% interest rate reduction.
Annual Fee $60 (May be waived, see below.)
Termination Fee If the borrower terminates the loan during the first three years a termination fee will apply; for HELOCs of $17,500 or greater the fee is $350. For HELOCs less than $17,500 the termination fee is $200.
Fixed Rate Loan Conversion Option
  • Yes
  • No fee with your first conversion loan request.
  • 1-5 year fixed rates with a maximum amortization terms up to 20 years for 2nd lien home equity line of credit loans using the mortgage refinance conversion loan option.
  • 3 or 5 year fixed rates with maximum amortization terms up to 30 years; or a fully amortized 10 year fixed rate for 1st lien home equity line of credit loans using the mortgage refinance conversion loan option.
  • Fixed rates can be locked at the time of scheduling your line of credit loan closing. Conversion loan rates are based on your lines loan to value and whether the conversion loan is either a first or second lien conversion loan request.

The HELOC is a variable rate loan.  Rates are subject to change daily.  Your HELOC rate may vary based on: the amount of your credit limit, and whether your monthly HELOC payments are automatically debited from a North Shore Bank checking account. Paying the minimum interest only monthly payments will not repay the principal that is outstanding on your line; you will be required to pay the entire outstanding balance in a single payment (balloon payment) at the end of the initial loan term, at the end of any extensions or renewals granted by Bank, or when you terminate the line. The Bank’s HELOC loan has a ceiling rate (maximum) of 19.90% APR and the Loan to Value (LTV) may not to exceed 86%.Closing costs may be waived if no appraisal, title, or other outside services are required and HELOC amount does not exceed $100,000. Property insurance is required; flood and/or title insurance required if applicable on property. Product available on qualified owner occupied properties in Bank lending area. For a HELOC over 80% LTV, the bank must control the first mortgage. Subject to Bank credit qualifications, current property value and loan approval. Consult tax advisor regarding interest tax deductibility.

Conversion loan rates and terms will vary depending on whether the line of credit is a first or second lien, and they are only available through your line of credit loan conversion option (Maximum of 3 conversions at one time). Selecting an amortization schedule longer than your conversion loan term will result in a balloon payment of the entire outstanding conversion loan balance due in full at the end of your selected conversion loan term. 

Auto, Boat, and Personal Installment Loan Interest Rates

Annual Percentage Rate (APR) 2.99% - 6.50%
Loan Repayment Term 12 to 120 months
Minimum Loan Amount $5,000
Maximum Loan Amount $250,000
Minimum Monthly Payments $100
Annual Fee None
Closing Costs Varies based on the type of collateral used. Ask for details.

North Shore Bank (Bank) offers installment loan programs to applicants for auto, personal, boat, RV and miscellaneous loans to applicants residing and collateral located in its Wisconsin / Illinois market areas. Rates, terms, and features are for new loans, based on the type of equity and collateral offered, with repayment terms from 1 - 10 years. Rates are subject to change. The above rates are as of 10/11/2018 and may have changed. To check current rates, please contact our nearest branch. Based on the type of loan and repayment plan selected the monthly payment per $1,000 borrowed will range from $11.35 to $84.69. Add 3% to the rate for any loan between $2,500 - $4,999. Any loan under $2,500 the rate is 18.00% APR. Minimum monthly payment will not be less than $100. Credit Builder loan not included in above disclosure, ask for details. Subject to approved credit.

Still have questions?

Contact us with additional questions: Email | 877.672.2265