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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 3.25% APR              (effective 03/17/2020)

*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 10-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


Home Equity Loan Disclosure

What you need to know about Home Equity Loans