Washington Trust Introduces New Home Equity Line of Credit

About this update from Washington Trust Bancorp, Inc.

[{"type":"text","content":"Limited time promotion offers a low fixed rate for an 18-month intro period \nWESTERLY, R.I., May 2, 2025 /PRNewswire/ -- Washington Trust launched a new Home Equity Line of Credit product today, to help homeowners with home improvement projects, debt consolidation, and other expenses. Customers can lock in a low introductory 5.99% Annual Percentage Rate (APR) for an initial period of 18 months. Home Equity Lines of Credit allow customers to borrow what they need when they need it, pay it off, and then borrow again during the life of the line. It's ideal for when costs and timing vary on expenses such as a major home renovation.\n\n \n \n \n \n \n \n\n \n\"Home Equity Lines of Credit are a smart way to have funds available when you need them,\" said Rolando A. Lora, EVP, Chief Retail Lending Officer and Director of Community Lending at Washington Trust. \"The flexibility of this product, along with a low initial rate locked in for a full 18 months, is a great way to make home improvements now, that you can enjoy for years to come.\"\nThe special promotion is available for a limited time. Applications can be made by visiting any Washington branch location, calling the bank at 800-475-2265, or applying quickly and easily online for an answer in less than a minute.\nTo learn more about Home Equity Lines of Credit, or for more details on the 5.99% APR offer, visit washtrust.com/HELOC.\nAdditional information \n*Introductory Annual Percentage Rate (APR) of 5.99% is fixed for the first 18 months. Your actual (APR) may be different than the rates shown. APR is based on the specific characteristics of your credit application including but not limited to: evaluation of credit history, amount of credit requested, property type, lien position, and combined loan to value. Offer available for new lines only. All loans subject to credit and underwriting approval. After the introductory rate, the APR is a variable rate based on the Wall Street Journal Prime Rate (minus) -0.125% to (plus) +0.25%, and will not exceed 18.00% or be less than 2.75%. As of 12/19/2024, Prime Rate is 7.50%. Minimum line amount for Prime (minus) -0.125% is $250,000. Other rates are available for lines of credit in amounts below $250,000. Offer valid on home equity line amounts up to $400,000. For home equity line amounts greater than $400,000, additional terms and cond...

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