Current Rates

Line is variable rate based on Wall Street Journal Prime and can change at any time. Maximum rate is 18.00%. No closing costs at account openingexcept for borrower’s share of New York mortgage tax for properties in New York;  other costs will be recovered if the line is paid off and closed within three years of the closing date. If the line is paid off and closed within three years of the closing date there is a recapture fee for all closing costs paid on your behalf by C&N.  The recapture fee will range from $250-$300; other recapture costs for title insurance and appraisal will vary with location and loan amount. Additional locked portions must be for a minimum of $5,000 for a term of between 3 and 15 years at a fixed market rate for an installment payment plan. The minimum interest rate for a locked portion is 3.00% and the maximum is 18.00%. The principal and interest payments will be in an amount sufficient to repay the balance within the time frame selected. Locked portions may not exceed the term of the line. A $50 lock fee applies each time a portion of the line is locked, with the first lock fee waived.  The current monthly payment for a $10,000 draw locked for 36 payments at 5% is $299.71 for Principal and Interest. Credit approval required.  *APR is annual percentage rate.