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Celebrating 25 years

When you work with Ledyard’s Mortgage Team

you’ll be treated like we’d want to be treated — with professionalism, respect and honesty. In other words, you’ll never be “just a transaction.” We’ll work hard to develop and maintain a long-term lending relationship with you, providing the best possible advice and solutions to meet your mortgage financing needs.

     

Special Mortgage Offers Available Until March 31, 2021

 
 
HELOC

3% annual percentage rate for the first 6 months,
3.5% APR minimum variable rate thereafter.
No charge for standard closing costs.

OR
CASH-OUT REFINANCE

Home Improvement Refinance
at near historic low rates and
$250 off closing costs.

 
   
   

Which option is right for you?

Both options put your home equity to work in a low interest rate environment. Both options are major financial decisions requiring consideration of your overall financial plan. The loan experts at Ledyard Bank are here to help advise on the best option for you.

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HELOC CASH-OUT REFINANCE

Key Advantages

Other Considerations

Key Advantages

Other Considerations

No to low upfront closing costs

Adjustable rate; risk of rising rates

Stability of fixed rate — fixed principal & interest payment

Upfront closing costs

Interest only payment — low monthly payment

Payment shock when interest only payment converts to fully amortized

Fully amortized — start paying principal back right away

No loan amount and payment flexibility

Flexibility of revolving credit: Draw funds and payoff balance as needed

$100 annual fee

   

Can be in first or second lien position

     
 

Considerations: current cashflow analysis, break-even on closings costs, interest rate options, short-term vs. long-term need, timing of when funds are needed, length of time planning to own property, mortgage interest tax deductibility,* and consolidation of other high interest debt.

               
   

Have a question? Call (603) 526.5606 to speak with Ed Bidlack, one of our Mortgage Loan Originators
or email mortgages@ledyardbank.com.

 

If you’d prefer to have a member of our team reach out to you for a consultation, please send us your contact information.

Home Equity Line of Credit: 3.00% annual percentage rate 3.50% minimum variable rate. For first six months after first six months. No charge for standard closing costs. Home Equity Loans: 3.00% annual percentage rate for first six months; variable rate at 0.25% below WSJ Prime, adjusted monthly, subject to 3.50% APR minimum and 18.00% APR maximum during 10-year draw period followed by variable rate equal to WSJ Prime, adjusted quarterly, during the 15-year repayment period. Ledyard National Bank will pay for standard closing costs, including: Title Search, Appraisal or Evaluation (up to $500), Credit Reports, Flood Certificate, and Recording Fees. As of 10/30/2020 WSJ Prime = 3.25%. Limited time offer, valid for applications received by 3/31/2021. Loans subject to credit and property approval. Additional terms and conditions apply. Consult your tax advisor.

   
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