Safety Notice Abacus Bank does not initiate contact with anyone by requesting for personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. Abacus Bank also does not ask for PINs, passwords or similar confidential access information for credit card, bank or other financial accounts. If you receive any communications which request for such information and purportedly come from us, please feel free to confirm whether such communications are authorized by us by calling us at 1-800-969-8423 (press 6) or emailing us at email@example.com.
HELOC: *APR is Annual Percentage Rate. Our Home Equity Line of Credit is an variable rate loan; your rate, credit limit and introductory rate term of 6 or12 months will be determined based on individual creditworthiness. 2.75% introductory APR available for 6 or12 months after the loan is funded. At the end of the 6 or12 months promotional period the variable APR will be calculated using the Wall Street Journal Prime Rate (As of July 9, 2015, the Wall Street Journal Prime Rate is 3.25%) plus margin, not to exceed 18%. Rate and offer are subject to change without notice.
No cost for credit report, appraisal, legal fees and flood certificate. Property insurance is required. HELOC must remain open for a minimum of 24 months or closing costs must be repaid by borrower. An annual fee of $100 is waived with automatic payments from an Abacus Personal Checking account. Maximum loan amount is determined by the amount of equity in your home, based on appraised value. Applicable for loans sizes up to $1 million. The HELOC must be secured by a first or second position mortgage on a primary owner occupied residential property and is available to U.S. Residents only.