No Fee Home Equity

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That's right...this is the opportunity you've been waiting for.  1ST SUMMIT BANK could save you money by waiving your fees on a Home Equity Loan or Line of Credit.
What could I do with a Home Equity Loan or Line of Credit?
  • Home Improvements such as remodeling, upgrading your kitchen or adding a back porch.  These projects add value to your home, plus your interest may be tax deductible!  (Consult your tax advisor.)
  • Consolidate that high-interest debt into one payment lowering your overall monthly bills!  You could even boost your savings with the extra cash!
  • College expenses, emergency expenses due to loss of job or medical expenses
What does No-Fee really mean?
  • As long as you are eligible, you will not pay appraisal fees, legal fees, or points.  This could save you hundreds compared to other lenders.
How do I know if I am eligible for a No-Fee Home Equity?
The following conditions must be met to qualify for the No-Fee promotion:
  • The total loan must be for at least $15,000.  If you are refinancing an existing loan from 1ST SUMMIT BANK, the principle will need to be increased by at least $15,000.
  • Each borrower must have a 700+ credit score.
  • The Loan-to-Value ratio on your home cannot exceed 80%.
  • Monthly payment must be set up as an automatic deduction from a 1ST SUMMIT BANK checking account.
  • As with all real estate secured loans, Property Insurance is required.
  • Property cannot be in a flood zone, as this would require professional appraisal fee.**
How do I get started?
Submit an Online Inquiry and have one of our Lenders reach out to you to answer any additional questions and get you on your way!


*Subject to credit approval.  Certain terms and conditions apply.  Minimum loan of $15,000.  Credit score of 700+ required for No Fee home equity loan or line of credit.  Customers with a credit score of less than 700 are not eligible.  Maximum loan-to-value ratio is 80%.  1ST SUMMIT BANK customer refinancing an existing loan will need $15,000 or more in new money.  Automatic payment deduction from a 1ST SUMMIT BANK checking is required.  Property Insurance required.  Home Equity Lines of Credit are charged $25 maintenance fee annually.  Variable rate tied to New York Prime with a maximum annual percentage rate of 18%.  Limited time-offer.  May be changed or discontinued at any time.

**A professional appraisal is required for property in a flood plain.  The appraisal fee will be at the property owner's expense.