FLEXequity Home Equity Loan

If You Own a Home, You'll Love FLEXequity 

FLEXequity combines the convenience of a home equity line with the stability of a fixed-rate loan, reducing the perils of rising interest rates. 

Here’s how FLEXequity works.
You get a flexible line of credit - up to $250,000 - with an attractive ongoing rate, AND the opportunity to fix the rate and term on all or part of the outstanding balance any time you choose, up to three times during the life of the loan. As long as the line is open for three years and you choose to pay recordation tax on your credit limit, BankAnnapolis pays the closing costs.*

Take advantage of great rates on your line of credit.

• Prime minus 0.25% with auto payment debit*
• Prime without auto debit

Fix the rate when it suits you.
Whenever you feel you’d like to fix the rate, you can do so on all or part of your outstanding balance (minimum $10,000) for a term of five or 10 years at very competitive rates. Repaid principal will revert back to the FLEXequity line of credit to be drawn again.  You have the option to fix the rate and term up to three times on all or part of the outstanding balance. 

*A 0.25% discount is available if you choose automatic payments from your BankAnnapolis checking or savings account. If you do not have automatic payment, your APR will be 0.25% higher. The maximum APR is 18% and minimum APR is 4.00%. APRs are for lines secured by property with 80% LTV ratio or less. You may choose a five-year (4.00%) or 10-year (5.00%) fixed rate term. Property insurance required on the property that secures the account. Closing costs range between $320 and $961. If you choose to pay recordation tax on your credit limit, payment of closing costs will be deferred and will be waived if line is open for at least three years.

This is not a commitment to lend. Loans subject to credit and property approval. Financing available only for properties in Maryland.  Terms and conditions subject to change.