800-547-2885 SPENCER • LEICESTER • RUTLAND • WARREN • WORCESTER
One answer is our Low-Rate Home Equity Loan.
Life can be a lot less puzzling if your
bank has the right answers.
Stop in any location or visit us online today
1-5 YRS APR*
“This creates high spirits
when you apply for a loan”
Agency: Davis Advertising
Client: Spencer Bank
File Name: SPB19721_HE
Size: 9. 5” x 5. 37”
Date: Thursday 7/11/13
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*Annual Percentage Rates (APR) quoted are for owner-occupied 1-4 family properties and for owner-occupied residential condominiums located in Massachusetts. Lien must be in first position. Maximum loan-to-value (LTV) is 80% of appraised value for a loan amount up to
$125,000 and 70% for a loan amount between $125,001 and $250,000. Rate is in effect as of 7/1/13 and is subject to change without notice. A 5-year term with an interest rate of 1.99% is repayable in 60 monthly installment of $17.52 per each $1,000 borrowed. A
10-year term with an interest rate of 2.99% is repayable in 120 monthly installments of $9.65 per each $1,000 borrowed. Payments do not include taxes and insurance. Actual payments may be greater. Property insurance is required. Minimum loan amount is $25,000 with a
maximum loan amount of $250,000. Existing SpencerBANK mortgage/home equity customers must apply for and be approved for an increase in their current loan by at least $25,000 to qualify. Appraisals will be required for loan amounts that exceed $125,000 at borrower’s
expense. Appraisal fees typically run from $350 to $550. Borrower is responsible for any cost or fees required by their current lender to have the loan refinanced with SpencerBANK. Other terms and conditions may apply. Consult a tax advisor about the deductibility of interest.
This offer may be withdrawn at any time. For properties held in Trusts, apply at a local branch; certain fees will apply.
Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
EQUAL HOUSING LENDER