Compare Residence Equity Loans & Lines


A house Equity Loan 1 can be an installment loan having a rate that is fixed term. Its an ideal choice in the event that you want set repayments and require cash for one-time cost. A house equity loan is fantastic for debt consolidation reduction and expenses that are large.

An Equity Reserve actually credit line 3 as you are able to draw in as required around your restriction. It really is great option if you need usage of funds now and ongoing. And, it really is a choice that is perfect do it yourself, training, debt consolidating as well as for emergencies.

Key Features

Your home Equity Loan includes a fixed price loan and equal monthly obligations over a particular amount of time.

Having an Equity Reserve personal credit line, you’ve got usage of credit that is available plus in the near future and never having to re-apply.

A fixed rate of interest throughout the term of this loan.

Type of Credit – adjustable rate of interest. When you begin a stability you might pick a set price having a rate lock feature that is special. You can easily freeze around three loan sections inside your approved borrowing limit at a set price and term that is fixed. No approvals that are additional necessary.

Relationship Discount

A 0.25percent discount can be obtained whenever repayments are immediately deducted from your own Sandy Spring Bank checking at loan origination.

A 0.25per cent discount can be acquired whenever repayments are immediately deducted from your own Sandy Spring Bank checking at loan origination.


Terms offered by 5 to twenty years

10 draw period with a 30 year repayment period year. Fixed term price sections can vary.

Minimal Loan Amount

Residence Equity Reserve Type Of Credit $20,000

Optimum Loan Amount

Optimum Loan To Value

Repayment Choice

Fixed repayments of Principal and Interest. Extra repayments could be built to lower principal without penalty.

Minimum repayment through the draw duration is interest just. The minimum payment is 2% of the outstanding balance during the repayment period.



Monthly declaration with one payment per month

Closing Costs

Nearly all are waived 2

The majority are waived 4

Yearly Fee

Use of Funds

Onetime, lump sum payment

By check, on the web transfer, or transfer by phone

Balance Transfer Charges

Overdraft Protection

Yes, connected to a Sandy Spring Bank bank checking account

Our Fair Lending Policy Statement can be acquired to look at on line.

Prices and Terms topic to alter with no warning. Other prices and terms available. Adequate home insurance coverage needed. All lines/loans susceptible to credit approval. Please speak to your income tax consultant regarding taxation deductibility.

Residence Equity Loan 1 percentage that is annual (APR) of 5.04percent at the time of 4/20/2020. Price quoted is for 1-4 household, owner-occupied residence. Price assumes a 0.25percent discount for automated debit from the Sandy Spring Bank bank account on financing of $20,000 or even more by having an LTV of 70per cent or less and a 1- to term that is 5-year. Payment per month per $1,000 borrowed for five years is $18.89.

2 to start a free account, you have to spend specific charges to third events such as for instance appraisers, credit scoring companies, and government agencies (shutting expenses). These alternative party charges generally total between $540.00 and $1,400.00 for $50,000 credit line. We are going to spend all closing expenses in your stead at shutting BECAUSE OF THE EXCLUSION OF EVERY RELEVANT TRANSFER TAXES CLOSING that is AT. You can expect to reimburse united states the closing expenses we spend if the loan is ended (us) during the first 3 years by you or.

Residence Equity Reserve type of Credit 3 Standard prices can vary and are usually according to alterations in, the best prime price posted inside Wall Street Journal’s “Money prices” area from the very first working day each and every thirty days. At this time standard prices vary from 3.25percent APR to 7.50percent APR (Prime plus 4.25per cent) and generally are in relation to credit skills, loan-to-value ratio and authorized borrowing limit. Optimum APR is 24percent. At the mercy of credit approval. APR by 4/20/2020. Adequate home insurance coverage is necessary. Prices quoted are for 1-4 household, owner-occupied residences. Closing costs are perhaps not waived for sale deals.

4 to start a free account, you have to spend particular charges to 3rd events such as for example appraisers, credit scoring companies, and federal government agencies (closing costs). These party that is third generally speaking total between $540.00 and $1,400.00 for the $50,000 personal credit line. Shutting Expense Repayment (Protection Interest Costs). We will spend your closing expenses, as much as $5,000. You have to spend all closing expenses, including transfer taxation that surpass $5,000. You certainly will reimburse united states for many closing expenses that people paid for you to 3rd parties in the event that Line is ended by you or united states during its very first 36 months. Upon demand, we will give you an itemization among these closing expenses.