Home Equity Rates

Home Equity Rates

Home Equity/Home Improvement Rates
Nominal Rates and Annual Percentage Rates
are Accurate as of July 19, 2006

If you already have a Tempo Bank 1st Mortgage and you are planning to buy a new auto, pay for your children's continuing education, or you want to remodel your home by adding a room addition, a swimming pool, a patio or aluminum soffit, facia or siding, or what ever your home improvement plans call for, Tempo Bank's Home Equity/Home Improvement rates will fit right into your plans. If you do not have a Tempo 1^st Mortgage please refer to Effective Local Community.

We post our rates as a convenience to you. Rates are subject to change without notice, when in doubt, please contact the bank. Please use our online calculators to estimate payments and lending needs.

Home Equity Loans:

One to Five Year Home Equity-Fixed Rate
Loan Amounts up to $20,000*:

Stated Term (Maximum)	Amortization Period	Nominal Rate	Annual Percentage Rate
5 Year	5 Year	7.00%	7.02%*

*Example: The APR shown above assumes a maximum loan amount of $20,000. The loan will fully amortize over the stated term with fifty nine (59) monthly P&I payments of $396.02 and one (1) final payment of $396.31. The APR also includes odd days interest and a flood zone certification fee (if it has not already been obtained in conjunction with the 1st mortgage) totaling $8.89. To be eligible for any home equity loan, Tempo Bank must hold the 1st mortgage on the property.

Six to Ten Year Home Equity-Fixed Rate
Loan Amounts up to $20,000**:

Stated Term (Maximum)	Amortization Period	Nominal Rate	Annual Percentage Rate
10 Year	10 Year	7.25%	7.26%**

**Example: The APR shown above assumes a maximum loan amount of $20,000. The loan will fully amortize over the stated term with one hundred nineteen (119) monthly P&I payments of $234.80 and one (1) final payment of $235.17. The APR also includes odd days interest and a flood zone certification fee (if it has not already been obtained in conjunction with the 1st mortgage) totaling $9.03. To be eligible for any home equity loan, Tempo Bank must hold the 1st mortgage on the property.

Home Improvement Loans:

Eleven to Fifteen Year Home Improvement-Fixed Rate
Loan Amounts over $20,000***:

Stated Term (Maximum)	Amortization Period	Nominal Rate	Annual Percentage Rate	Total Points
15 Year	15 Year	6.875%	7.33%***	0.00%

***Example: The APR shown above assumes a loan amount of $20,000. The loan will fully amortize over the stated term with one hundred seventy nine (179) monthly P&I payments of $178.37 and one (1) final payment of $178.65. The APR also includes odd days interest, and a flood zone certification fee (if it has not already been obtained in conjunction with the 1st mortgage) and an application fee totaling $553.82. To be eligible for a home improvement loan, Tempo Bank must hold the 1st mortgage on the property.

* While interest is usually tax deductible, Tempo Bank strongly recommends that the borrower seek competent advice form their tax specialist regarding the deductibility of interest charged in conjunction with the loan products and rates described on this page.

What is "Odd Days Interest"?

Odd days interest is a variable interest charge paid at loan closing and represents interest due the lender from the date of loan disbursal to and including the last day of the month in which the loan was disbursed. This charge can be as little a 1 day or as great as 31 days depending upon that date loan funds are disbursed. In the above examples, 1 day odd days interest was used to perform the annual percentage rate calculation.

A Note About Nominal Rates and Annual Percentage Rates

While nominal interest rates and annual percentage rates are accurate as of the date specified for the examples provided, nominal rates and annual percentage rates can and will change periodically and could be different based upon the unique circumstances of every loan application filed and the differing characteristics of the loan products offered or selected by the applicant(s).

Although this page is reviewed and updated with current rate and index information no less frequently than weekly, delays and op-edits can occur. For current nominal rates and annual percentage rates we suggest that you contact us: