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Floating Rate HELOC

The rate floats with Prime. If rates go down, you reap the benefits!

Floating Rate HELOC

Prime is equal to 5.00% APR              (effective 06/13/2018)

*If the account is closed before 2 years, the closing cost will be added to the final pay off

~Available on owner occupied one-to-four family residence

~Rates apply to new money, referrals and increases. Hazard Insurance required.

~APR= Annual Percentage Rate.


  • Provides you the flexibility for funding things such as: home improvements, education, or debt consolidation
  • Home Equity Line of Credit is a 5-year note
  • Minimum monthly payment is the accrued interest.  You can pay as much principal each month as you desire without penalty*
  • You can access your Home Equity Line of Credit through Royal Banks checks or through a convenience mailing

*A balloon payment will result in you having to repay the entire outstanding Loan Balance in a Single Payment at time of maturity.


  • Minimum Loan amount- $10,000
  • Maximum Loan amount- 80% of the appraised value of your home minus your last mortgage
  • Floating Rate- Floats with Prime. (see above for current rate)


  • Potential tax savings – Interest paid on your Home Equity Line of Credit may be tax deductible. Consult your tax advisor regarding the deductibility of interest