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With rates currently as low as 4.59% variable APR, * it's a smart way to borrow.
The amount of your credit line that you don't convert to a fixed rate will remain available to use like a traditional line of credit at a low, variable rate.
In either case, you'll only pay interest on the amount of money you actually use.
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With rates currently as low as 4.34% variable APR, * it's a smart way to borrow.
The amount of your credit line that you don't convert to a fixed rate will remain available to use like a traditional line of credit at a low, variable rate.
In either case, you'll only pay interest on the amount of money you actually use.
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With rates currently as low as 4.09% variable APR, * it's a smart way to borrow.
The amount of your credit line that you don't convert to a fixed rate will remain available to use like a traditional line of credit at a low, variable rate.
In either case, you'll only pay interest on the amount of money you actually use.
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First lien home equity loans are not available on NY properties. FlexLock accounts must be in first or second lien position on your NY property. |
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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 APR shown, you must have or must open a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account, or Premier Money Market Savings account, and use automatic payment from the qualifying account. The APR on your line may increase after you obtain credit if you close or discontinue automatic payment from that account. The APR assumes that your total mortgage loans, including your home equity line of credit, do not exceed 80% of the appraised value of your 1-4 family owner-occupied home located in PA, NJ, CT, RI, DE, VA, NH and MA. Property insurance is required. Flood insurance may be required. 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. If your home is on the market for sale at the time of application, you are not eligible for this offer.
Variable rates on Flexlock Home Equity Lines of Credit are subject to change and may vary monthly based on the latest U.S. Prime Rate as published in the Money Rates section of the Wall Street Journal on the first business day of the month, plus a margin of +.84% for lines of $100,000 and above (currently 4.09% APR), a margin of +1.34% for lines of $25,000-$99,999 (currently 4.59% APR), a margin of +1.59% for lines of $10,000-$44,999 (currently 4.84% APR). Maximum APR is 18%. Minimum APR is 3.99%. Other rates and terms apply to non-owner occupied properties. There is a $220 termination fee if you close the line within 30 months. There is a $50 annual fee that is waived if you have a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account.
If the Fixed Rate Lock Option is elected, the fixed APR will be determined based on the loan amount, term and other factors at the time lock-in is requested and applies only to the portion of your line that has been locked in at a fixed rate. Lock rates differ from the current variable rates described above. There is a $50 fixed rate lock fee for each lock-in request, which is waived through September 2009. Fixed rate locks are subject to the terms and conditions explained in your loan documents, and must be repaid over a fixed term in substantially equal monthly payments of principal and interest. |
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To get the APR shown, you must have or must open a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account, or Premier Money Market Savings account, and use automatic payment from the qualifying account. The APR on your line may increase after you obtain credit if you close or discontinue automatic payment from that account. The APR assumes that your total mortgage loans, including your home equity line of credit, do not exceed 80% of the appraised value of your 1-4 family owner-occupied home located in NY or MD. Property insurance is required. Flood insurance may be required. 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. If your home is on the market for sale at the time of application you are not eligible for this offer.
Variable rates on Flexlock Home Equity Lines of Credit are subject to change and may vary monthly based on the latest U.S. Prime Rate as published in the Money Rates section of the Wall Street Journal on the first business day of the month, plus a margin of +.1.34% for lines of $100,000 and above (currently 4.59% APR), a margin of +1.84% for lines of $25,000-$99,999 (currently 5.09% APR), a margin of +2.09% for lines of $10,000-$24,999 (currently 5.34% APR). Maximum APR is 18%. Minimum APR is 3.99%. Other rates and terms apply to NY co-ops and non-owner occupied properties. If your home is located in NY or MD, mortgage recording tax will be paid by Sovereign, but must be reimbursed if the line is closed within 36 months in NY and 24 months in MD. There is a $220 termination fee if you close the line within 30 months. There is a $50 annual fee that is waived if you have a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account. Maximum line $750,000.
If the Fixed Rate Lock Option is elected, the fixed APR will be determined based on the loan amount, term and other factors at the time lock-in is requested and applies only to the portion of your line that has been locked in at a fixed rate. Lock rates differ from the current variable rates described above. There is a $50 fixed rate lock fee for each lock-in request, which is waived through September 2009. Fixed rate locks are subject to the terms and conditions explained in your loan documents, and must be repaid over a fixed term in substantially equal monthly payments of principal and interest. |
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To get the APR shown, you must have or must open a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account, or Premier Money Market Savings account, and use automatic payment from the qualifying account. The APR on your line may increase after you obtain credit if you close or discontinue automatic payment from that account. The APR assumes that your total mortgage loans, including your home equity line of credit, do not exceed 80% of the appraised value of your 1-4 family owner-occupied home located in NY or MD. Property insurance is required. Flood insurance may be required. 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. If your home is on the market for sale at the time of application you are not eligible for this offer.
Variable rates on Flexlock Home Equity Lines of Credit are subject to change and may vary monthly based on the latest U.S. Prime Rate as published in the Money Rates section of the Wall Street Journal on the first business day of the month, plus a margin of +1.09% for lines of $100,000 and above (currently 4.34% APR), a margin of +1.59% for lines of $25,000-$99,999 (currently 4.84% APR), a margin of +1.84% for lines of $10,000-$24,999 (currently 5.09% APR). Maximum APR is 18%. Minimum APR is 3.99%. Other rates and terms apply to NY co-ops and non-owner occupied properties. If your home is located in NY or MD, mortgage recording tax will be paid by Sovereign, but must be reimbursed if the line is closed within 36 months in NY and 24 months in MD. There is a $220 termination fee if you close the line within 30 months. There is a $50 annual fee that is waived if you have a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account. Maximum line $750,000.
If the Fixed Rate Lock Option is elected, the fixed APR will be determined based on the loan amount, term and other factors at the time lock-in is requested and applies only to the portion of your line that has been locked in at a fixed rate. Lock rates differ from the current variable rates described above. There is a $50 fixed rate lock fee for each lock-in request, which is waived through September 2009. Fixed rate locks are subject to the terms and conditions explained in your loan documents, and must be repaid over a fixed term in substantially equal monthly payments of principal and interest. |
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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 Home Value Estimate & Payment Calculator is a free service designed to provide an estimate of your home's value. Sovereign Bank is pleased to provide this service to its customers and prospective loan applicants. Please note that none of the information you provide is shared with any other party except to provide you The Home Value Estimate & Payment Calculator report. The Home Value Estimate & Payment Calculator is intended for private, non-commercial use for single-family homes and condominiums. The results provided are a guideline for determining your home's worth; however, actual appraised value may vary. The Home Value Estimate is produced from multiple sources, including public record data, automated valuation techniques, home value indices, plus information provided by you. Sovereign Bank makes no representations or warranties as to the accuracy and completeness of the Home Value Estimate, or the public record data used to provide the Home Value Estimate. Sovereign makes no commitment to use this value for lending purposes.
Inaccurately input data may invalidate your home value estimate. Loan applications may require that you substantiate any information provided.
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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