Compare Residence Equity Loans & Lines


A house Equity Loan 1 is definitely an installment loan having rate that is fixed term. It really is a fantastic choice in the event that you want set payments and require cash for one-time cost. A house equity loan is perfect for debt consolidating and expenses that are large.

An Equity Reserve is just a personal credit line 3 you could draw on as required around your limitation. It really is choice that is great you would like use of funds now and ongoing. And, it really is a perfect option for do-it-yourself, training, debt consolidation reduction as well as for emergencies.

Key Features

The house Equity Loan is sold with a fixed rate loan and equal monthly obligations over a particular amount of time.

Having an Equity Reserve personal credit line, you’ve got use of available credit now as well as in the long term and never have to re-apply.

A fixed interest within the term of this loan.

Type of Credit – adjustable rate of interest. When you begin a stability you could pick a hard and fast price having a unique price lock function. You can easily freeze as much as three loan sections inside your authorized borrowing limit at a hard and fast price and fixed term. No extra approvals are necessary.

Relationship Discount

A 0.25percent discount is present whenever payments are immediately deducted from your own Sandy Spring Bank checking at loan origination.

A 0.25per cent discount is present whenever repayments are click this over here now immediately deducted from your own Sandy Spring Bank checking at loan origination.


Terms available from 5 to twenty years

10 12 months draw duration having a 30 12 months payment duration. Fixed term rate portions 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 is made to lower principal without penalty.

Minimal repayment throughout the draw duration is interest just. Throughout the payment duration, the minimal repayment is 2percent regarding the outstanding balance.



Month-to-month declaration with one payment that is monthly

Closing Expenses

Nearly all are waived 2

Nearly all are waived 4

Yearly Fee

Usage 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 obtained to see on the web.

Prices and Terms topic to alter without warning. Other prices and terms available. Adequate home insurance needed. All lines/loans at the mercy of credit approval. Please consult with your taxation consultant tax deductibility that is regarding.

Residence Equity Loan 1 apr (APR) of 5.04per cent at the time of 4/20/2020. Price quoted is actually for 1-4 family members, owner-occupied residence. Price assumes a 0.25per cent discount for automated debit from the Sandy Spring Bank bank checking account on that loan of $20,000 or maybe more having an LTV of 70per cent or less plus 1- to 5-year term. Monthly payment per $1,000 lent for 5 years is $18.89.

2 to open up a free account, you need to spend particular charges to 3rd events such as for instance appraisers, credit scoring companies, and federal government agencies (shutting expenses). These 3rd party charges generally speaking total between $540.00 and $1,400.00 for the $50,000 credit line. We shall spend all closing expenses for you at shutting BECAUSE OF THE EXCLUSION OF EVERY RELEVANT TRANSFER TAXES CLOSING that is AT. You can expect to reimburse united states the closing costs we spend in the event that loan is ended (us) during the first 3 years by you or.

Residence Equity Reserve type of Credit 3 Standard prices can vary greatly as they are according to alterations in, the best rate that is prime when you look at the Wall Street Journal’s “Money prices” part in the very first working day of each thirty days. Presently rates that are standard from 3.25percent APR to 7.50percent APR (Prime plus 4.25per cent) and they are based on credit skills, loan-to-value ratio and authorized borrowing limit. Optimum APR is 24per cent. At the mercy of credit approval. APR at the time of 4/20/2020. Adequate home insurance coverage is necessary. Prices quoted are for 1-4 household, owner-occupied residences. Closing expenses are maybe not waived for sale deals.

4 To open a free account, you have to pay particular charges to 3rd events such as for example appraisers, credit scoring businesses, and federal government agencies (closing costs). These alternative party charges generally speaking total between $540.00 and $1,400.00 for the $50,000 personal credit line. Shutting Price Repayment (Safety Interest Costs). We shall spend your closing expenses, around $5,000. You need to pay all closing expenses, including transfer taxation that surpass $5,000. You will definitely reimburse united states for many closing costs we paid for you to 3rd events in the event that Line is ended by you or united states during its very first 36 months. Upon demand, we shall offer you an itemization among these closing expenses.