Home Equity Loans & Lines of Credit

*The annual percentage rate is variable and will be based on the value of an index and adding a margin of 0.00 to the value of the index. The index is the most recently published Prime Rate as of each day in the “Money Rates” table in The Wall Street Journal. (If more than one index value is published, we will use the highest published index value). 

**This means you will pay $6.37 in interest over a 30-day period for every $1000 of your line of credit drawn on during the interest only draw period if the APR of 7.750% does not change during that time.  

For financing of Single-Family Residential Dwellings with loan amounts between $10,000-$400,000 and the property is used as your primary residence or second home:

• Windsor Federal Bank will pay the Appraisal Fee, Credit Report Fee, Flood Certificate Fee, Appraisal Review Fee, Title Search Fee, and Recording Fee estimated to be between $404.15 – $524.15

For financing of 2-4 Family Residential Dwellings with loan amounts between $10,000-$400,000 and the property is used as your primary residence or second home:

• Windsor Federal Bank will pay the Credit Report Fee, Flood Certificate Fee, Title Search Fee, and Recording Fee estimated to be between $252.15 – $372.15
• You will be responsible to pay for the Appraisal Fee and Appraisal Review Fee after providing your intent to proceed with the application and prior to ordering these services estimated to be $785.00

For financing of 1-4 Family Residential Dwellings with loan amounts between $400,000 and $766,550 you are responsible to pay all closing cost estimated to be between $3,575.15 – $4,047.65

The following terms and conditions apply: 

• For line of credit amounts greater than $766,550 please contact us at 860.688.8511 or visit a local branch and ask to speak with one of our mortgage experts for APR and qualifications.
• Maximum Combined Loan-To-Value 80% of subject property’s appraised value.
• The loan in which you apply for must be in either lien position 1 or lien position 2.  If your lien position is greater than either of these, please contact us for qualification requirements.    
• Minimum line of credit amount of $10,000 applies.
• All payments quoted do not include taxes and insurance and actual payment may be greater.
• Minimum Credit Advance Amount of $500.
• Annual fee of $30.
• Total Term is 25 years; 10-year draw period & 15-year repayment period.
• Hazard Insurance (flood insurance, if applicable) is required.
• The maximum Annual Percentage Rate (APR) will not exceed 18.000% and the minimum Annual Percentage Rate (APR) will not be below 3.500%.
• Subject to credit approval.  Other terms and conditions may apply. APR is subject to change without notice.

*The annual percentage rate is variable and will be based on the value of an index and adding a margin of -0.50 to the value of the index. The index is the most recently published Prime Rate as of each day in the “Money Rates” table in The Wall Street Journal. (If more than one index value is published, we will use the highest published index value.).  

 **This means you will pay $5.96 in interest over a 30-day period for every $1000 of your line of credit drawn on during the interest only draw period if the APR of 7.250% does not change during that time. 

For financing of Single-Family Residential Dwellings with loan amounts between $10,000-$400,000 and the property is used as your primary residence or second home:

• Windsor Federal Bank will pay the Appraisal Fee, Credit Report Fee, Flood Certificate Fee, Appraisal Review Fee, Title Search Fee, and Recording Fee estimated to be between $404.15 – $524.15

For financing of 2-4 Family Residential Dwellings with loan amounts between $10,000-$400,000 and the property is used as your primary residence or second home:

• Windsor Federal Bank will pay the Credit Report Fee, Flood Certificate Fee, Title Search Fee, and Recording Fee estimated to be between $252.15 – $372.15
• You will be responsible to pay for the Appraisal Fee and Appraisal Review Fee after providing your intent to proceed with the application and prior to ordering these services estimated to be $785.00

For financing of 1-4 Family Residential Dwellings with loan amounts between $400,000 and $766,550 you are responsible to pay all closing cost estimated to be between $3,575.15 – $4,047.65

The following terms and conditions apply: 

• For applicants whose primary qualifying income is reportable on IRS form 1040, a direct deposit of this income to a Windsor Federal Bank Consumer Deposit Account by the time of consummation is required.
• For applicants whose primary qualifying income is reportable on IRS form 1120, 1120s, or 1065, a Primary Business Operating Deposit Account with Windsor Federal Bank is required by the time of consummation. 
• For line of credit amounts greater than $766,550 please contact us at 860.688.8511 or visit a local branch and ask to speak with one of our mortgage experts for APR and qualifications.
• Maximum Combined Loan-To-Value 80% of subject property’s appraised value.
• The loan in which you apply for must be in either lien position 1 or lien position 2.  If your lien position is greater than either of these, please contact us for qualification requirements.    
• Minimum line of credit amount of $10,000 applies.
• All payments quoted do not include taxes and insurance and actual payment may be greater.
• Minimum Credit Advance Amount of $500.
• Annual fee of $30.
• Total Term is 25 years; 10-year draw period & 15-year repayment period.
• Hazard Insurance (flood insurance, if applicable) is required.
• The maximum Annual Percentage Rate (APR) will not exceed 18.000% and the minimum Annual Percentage Rate (APR) will not be below 3.500%.
• Subject to credit approval.  Other terms and conditions may apply. APR is subject to change without notice.

The following applies to mortgage products listed above:

*APR is based on a set of assumptions, which include the following:

1. A loan amount between $10,000 and $400,000
2. A maximum combined loan to value of 80%
3. A 1-4 family Residential Dwelling
4. A property currently utilized as a primary place of residence or second home
5. A lien position of 1 or 2.
6. A property located in the State of CT

**Payment examples do not include escrow of taxes and insurance; therefore, the actual monthly payment obligation may be greater.

• For loan amounts greater than $400,000, please contact us at 860.688.8511 or visit a local branch and ask to speak with one of our mortgage experts for rates and qualifications.
• The interest rate of the product for which you apply will not increase after consummation.
• Combined Loan to Value (CLTV) up to 85% is available depending on credit history.
• Hazard Insurance (flood insurance, if applicable) is required.
• This is not a commitment to lending; all loans are subject to credit approval and other criteria.
• Rates are subject to change without notice.