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For properties outside of PA, ME, DC, DE, MD, NY, NJ, CT, RI, MA, NH, VT please call 877-4-SOV-LOAN to review the terms and conditions for additional states.
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INTRODUCTORY
FIXED RATE OF
FIRST 12 BILLING CYCLES
WITH EPAY
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VARIABLE RATES OF
THEREAFTER WITH EPAY
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- No application fee
- No closing costs
- Interest Only payment option
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- No appraisal fees
- Fixed rate lock option
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Minimum monthly payment may vary each month based on the unpaid balance and the Prime Rate. Although a principal payment is not required during the draw period, it is recommended in order to reduce the balance owed. |
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To get the FlexLock Home Equity Line of Credit Fixed Introductory APR and variable "go to" APR shown, you must have or open a Sovereign checking and use automatic payment (ePay) from the qualifying account. To get the variable "go to" APR shown, you must obtain a credit line of $100,000 - $750,000. The introductory APR will apply only during the first 12 billing cycles after your FlexLock line is opened. Thereafter, the APR, including the APR on any existing balance, will convert to the applicable variable "go to" APR. "Go to" APR on FlexLock line may vary monthly based on the latest U.S. Prime Rate as published in The Wall Street Journal as of the first business day of the month, plus a margin of 0.74% (now 3.99% APR). Maximum APR is 18%. Minimum APR is 3.24%. After the Introductory APR expires, the interest rate will increase by 0.25% if ePay is discontinued. FlexLock Home Equity Lines of Credit available to customers with lower credit lines. Contact us for information about rates and other terms.
All APRs assume that your total mortgage loans, including your FlexLock line, do not exceed 80% of the value of your 1 - 4 family owner-occupied residential property in MA, RI, CT, NH, NJ, PA, DE, ME, VT or DC. There is a $450 termination fee if you close the line within 36 months. An annual fee, if any, will be charged during the Draw Period, and will be $0, $25 or $50, depending on the Sovereign deposit account you maintain, and may change if you change the deposit account. The annual fee will equal $0 as long as you maintain a Sovereign Premier, Business Owner Premier or Premier Partnership Checking Account or Premier Money Market Savings Account. An annual fee of $25 will be charged as long as you maintain a Sovereign Preferred or Preferred Partnership Checking Account or Preferred Money Market Savings Account. An annual fee of $50 will be charged if you do not maintain one of the above deposit accounts. A $175 non-refundable fee will be charged if your property is held in trust. There is a $50 fixed rate lock fee for each lock-in request. Property insurance is, and flood insurance may be, required. FlexLock account use is subject to the terms of the Sovereign Home Equity Line of Credit Agreement, including terms that permit lines to be suspended, reduced or terminated in certain circumstances.
Maximum line amount is $750,000. If your home is on the market for sale at the time of application, you are not eligible for this offer. Offer not available if you have received an introductory rate on a FlexLock line within 12 months of your application date. APRs and other terms accurate as of 9/26/11 and may change thereafter. Applications subject to approval. |
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To get the FlexLock Home Equity Line of Credit Fixed Introductory APR and variable "go to" APR shown, you must have or open a Sovereign checking and use automatic payment (ePay) from the qualifying account. To get the variable "go to" APR shown, you must obtain a credit line of $100,000 - $750,000. The introductory APR will apply only during the first 6 billing cycles after your FlexLock line is opened. Thereafter, the APR, including the APR on any existing balance, will convert to the applicable variable "go to" APR. "Go to" APR on FlexLock line may vary monthly based on the latest U.S. Prime Rate as published in The Wall Street Journal as of the first business day of the month, plus a margin of 0.99% (now 4.24% APR) . Maximum APR is 18%. Minimum APR is 3.24%. After the Introductory APR expires, the interest rate will increase by 0.25% if ePay is discontinued. FlexLock Home Equity Lines of Credit available to customers with lower credit lines. Contact us for information about rates and other terms.
All APRs assume that your total mortgage loans, including your FlexLock line, do not exceed 80% of the value of your 1 - 4 family owner-occupied residential property in MD. There is a $450 termination fee if you close the line within 36 months. An annual fee, if any, will be charged during the Draw Period, and will be $0, $25 or $50, depending on the Sovereign deposit account you maintain, and may change if you change the deposit account. The annual fee will equal $0 as long as you maintain a Sovereign Premier, Business Owner Premier or Premier Partnership Checking Account or Premier Money Market Savings Account. An annual fee of $25 will be charged as long as you maintain a Sovereign Preferred or Preferred Partnership Checking Account or Preferred Money Market Savings Account. An annual fee of $50 will be charged if you do not maintain one of the above deposit accounts. A $175 non-refundable fee will be charged if your property is held in trust. Mortgage recording tax will be paid by Sovereign, but must be reimbursed if the line is closed within 36 months. There is a $50 fixed rate lock fee for each lock-in request. Property insurance is, and flood insurance may be, required. FlexLock account use is subject to the terms of the Sovereign Home Equity Line of Credit Agreement, including terms that permit lines to be suspended, reduced or terminated in certain circumstances.
Maximum line amount is $750,000. If your home is on the market for sale at the time of application, you are not eligible for this offer. Offer not available if you have received an introductory rate on a FlexLock line within 12 months of your application date. APRs and other terms accurate as of 9/26/11 and may change thereafter. Applications subject to approval. |
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To get the FlexLock Home Equity Line of Credit Fixed Introductory APR and variable "go to" APR shown, you must have or open a Sovereign checking and use automatic payment (ePay) from the qualifying account. To get the variable "go to" APR shown, you must obtain a credit line of $100,000 - $750,000. The introductory APR will apply only during the first 6 billing cycles after your FlexLock line is opened. Thereafter, the APR, including the APR on any existing balance, will convert to the applicable variable "go to" APR. "Go to" APR on FlexLock line may vary monthly based on the latest U.S. Prime Rate as published in The Wall Street Journal as of the first business day of the month, plus a margin of 1.24% (now 4.49% APR) . Maximum APR is 18%. Minimum APR is 3.24%. After the Introductory APR expires, the interest rate will increase by 0.25% if ePay is discontinued. FlexLock Home Equity Lines of Credit available to customers with lower credit lines. Contact us for information about rates and other terms.
All APRs assume that your total mortgage loans, including your FlexLock line, do not exceed 80% of the value of your 1 - 4 family owner-occupied residential property in NY. Other rates and terms apply to co-ops. There is a $450 termination fee if you close the line within 36 months. An annual fee, if any, will be charged during the Draw Period, and will be $0, $25 or $50, depending on the Sovereign deposit account you maintain, and may change if you change the deposit account. The annual fee will equal $0 as long as you maintain a Sovereign Premier, Business Owner Premier or Premier Partnership Checking Account or Premier Money Market Savings Account. An annual fee of $25 will be charged as long as you maintain a Sovereign Preferred or Preferred Partnership Checking Account or Preferred Money Market Savings Account. An annual fee of $50 will be charged if you do not maintain one of the above deposit accounts. A $175 non-refundable fee will be charged if your property is held in trust. Mortgage recording tax will be paid by Sovereign, but must be reimbursed if the line is closed within 36 months. There is a $50 fixed rate lock fee for each lock-in request. Property insurance is, and flood insurance may be, required. FlexLock account use is subject to the terms of the Sovereign Home Equity Line of Credit Agreement, including terms that permit lines to be suspended, reduced or terminated in certain circumstances.
Maximum line amount is $750,000. If your home is on the market for sale at the time of application, you are not eligible for this offer. Offer not available if you have received an introductory rate on a FlexLock line within 12 months of your application date. APRs and other terms accurate as of September 26, 2011 and may change thereafter. Applications subject to approval. |
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Check with your tax advisor. |
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Your privacy is important to us. The email form in this section of the Website is not secure, so please do not submit any information you consider confidential such as Social Security Number or Account Numbers. Please include name, address, and telephone number so we may respond to you.
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Be sure to call our loan rate hotline at 877-4-SOV-LOAN or email us at sdnet@sovereignbank.com for rate confirmation. You should consult with your tax advisor concerning tax implications. |
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The rate and payment calculations provided herein are based on answers you provided and assumptions that may include:
1. That this property is your primary residence
2. That you would like to receive the lowest rate possible by having your monthly payments automatically deducted from your qualifying Sovereign Bank deposit account through electronic payment
3. The estimated value of your home
4. Remaining balances on your first mortgage
5. That there are no other mortgages currently on this property
Loan or line of credit amount quoted is solely based on equity assumed to be available in your home and does not consider other qualifying factors. The maximum amount we can lend you depends on the value of your home, your income, amount of debt, credit history and other factors. All applications are subject to credit approval. This is not an offer of credit, and is intended for informational purposes only.
A formal application for credit is needed to allow Sovereign Bank to make an offer of credit. Rates and other terms are accurate as of the date indicated above, and are subject to change thereafter. |
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Sovereign Bank, its logo and Flexlock are registered trademarks of Sovereign Bank or its affiliates or subsidiaries in the United States and other countries. |
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Equal Housing Lender - Member FDIC
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