Unlock the Value in Your Home
$500K
95%
$2,800
Whether you’re planning a big renovation, covering tuition, consolidating debt, or simply building a safety net for the future, Rosedale Bank’s Home Equity Line of Credit (HELOC) offers a flexible way to access the cash you need, when you need it most.
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Why Choose a HELOC from Rosedale Bank?
Up to 95% Loan-to-Value (LTV)*
Tap into more of your home’s value with loan amounts up to $500,000.
Flexible Access to Funds
Use your HELOC for home improvements, education costs, debt consolidation, emergencies, or even that long-awaited vacation.
No Initial Advance Required
Only borrow what you need, when you need it. There’s no minimum draw at closing.
Long-Term Flexibility
Enjoy a 10-year draw period with interest-only payments, followed by a 20-year repayment term—giving you time to plan and budget.
Closing Cost Credit
Receive up to $2,800** in closing cost credits, subject to terms and conditions.
Peace of Mind
Whether you’re tackling a big project or preparing for life’s surprises, having a HELOC in place gives you financial flexibility and security.
Terms and conditions are subject to credit and property approval and may change without notice. The minimum line of credit amount is $7,500.00. The maximum line of credit is $500,000 and may vary based on the Loan to Value (LTV) percentage. Additional terms and conditions may apply.
Eligible properties include first- or second-lien position owner-occupied 1-to-4-family properties and condominiums. Adequate property insurance is required, and flood insurance is required where necessary.
Variable Annual Percentage Rate (APR) is based on the U.S. Prime Rate as published in the “Money Rates” table on the third Wednesday of the month in The Wall Street Journal. For loan-to-value (LTV) of 80% or less, the applicable APR is equal to the Prime Rate, currently 7.50%. For LTVs that are more than 80%, the applicable APR is equal to the Prime Rate plus a margin of 1.5%, currently 9.00%. The maximum APR that can apply is 18.00% and the minimum APR that can apply is 3.00%.
To open a Home Equity Line of Credit (HELOC), you must pay a non-refundable origination fee of $450 (not to exceed 10% of the credit limit). You also must pay certain fees to third parties (i.e., closing costs). These fees generally total between $4,259.00 and $8,259.00 based on a maximum loan amount of $500,000.00. Upon request, we will provide you with an itemization of these closing costs.
We will pay up to a maximum of $2,800.00 of the above third-party fees on your behalf at account opening and defer the collection of these fees if you keep your account open for at least two (2) years. You will be required to repay any third-party fees that we paid on your behalf if you terminate your account during the first two (2) years after your account is established.
Start Your Application Now
Ready to put your home’s equity to work? Our application process is simple, and our local lending experts are here to help. When applying, select “Cash-Out Refinance” for the “Loan Purpose.”