FDIC-Insured - Backed by the full faith and credit of the U.S. Government Construction Mortgage Rates
For inquiries regarding construction mortgages, Essex Bank offers competitive rates and a single closing solution.
Contact an Essex Bank Mortgage Loan Officer for rates and specific information
Residential Building Lots
Maximum Loan to Value 75%.
Fixed rate payment based upon an amortization schedule of 20 years with a balloon payment due in 8 years.
Contact an Essex Bank Mortgage Loan Officer for rates and specific information
Personal Home Equity Lines of Credit (HELOC) Rates
Variable Rate Product.
Credit Lines from $10,000 to $250,000.
Credit Lines Under $25,000: Wall Street Journal Prime Plus 1.25% and rate is currently 8.00% APR (Max APR 18%).
Credit Lines of $25,000 or More: Wall Street Journal Prime and rate is currently 6.75% APR (Max APR 18%).
Property Insurance is required.
Fees and Charges:
An Annual Participation Fee of $50 is charged during the draw period (waived for the first year).
You may also have to pay certain fees to third parties. These fees generally total between $0 and $1,610.88. The precise amount you will have to pay will depend upon the amount of your approved credit limit and other factors. If you ask, we will provide you with an itemization of the fees you will have to pay to third parties.You may also have to pay certain fees to third parties. These fees generally total between $0 and $1,610.88. The precise amount you will have to pay will depend upon the amount of your approved credit limit and other factors. If you ask, we will provide you with an itemization of the fees you will have to pay to third parties.