If low promo rates is your thing, then:
or
BMO (it's not on this screenshot, but I believe they offer 6 months at 6.99%). IINM they offer larger lines than Northfield. IDK about underwriting for either of them.
Found disclosures for BMO:
Variable annual percentage rate (APR) as low as 8.75%
Includes the following discounts:
Auto Pay from eligible checking account 0.25%
Loan to value (LTV) 70% or less
BMO will pay closing costs for loans secured by an owner-occupied 1 to 4 family residence. Closing costs include appraisal charges, credit report, flood determination, title insurance, document recording fees, and mortgage and government taxes. You will be assessed a $75 annual fee on your first monthly billing statement. Thereafter, this $75 fee will be assessed annually on the anniversary of your closing date through the ninth anniversary of your loan opening. A fee waiver may be available based on your relationship balances, contact your banker for details. You may also be required to pay real estate taxes and items such as prior lien release fees.
If the line amount is greater than $500,000, you are responsible for mortgage and government taxes as well as title fees in AL, AR, CT, FL, KS, HI, ID, MN, MS, NJ, NM, OK, PA, TN and DC.The variable introductory rate offer is available on new applications received from 6/1/2024 through 7/31/2024. The introductory rate is variable during the introductory period. No customer or other discounts are available during the variable rate introductory period. The 6-month introductory rate of 6.99% APR will change with Prime and is calculated by subtracting 1.51% from the then-current Prime Rate on a line of credit. The introductory rate is prime minus 1.51% (6.99% APR) for 6 months. The 12-month introductory rate of 7.24% APR will change with Prime and is calculated by subtracting 1.26% from the then-current Prime Rate on a line of credit. The 12-month introductory is prime minus 1.26% (7.24% APR) for 12 months. Rates are for illustrative purposes only and are subject to change without notice.
Variable Rate Information After Introductory
For a Home Equity Line of Credit, the annual percentage rate (APR) is a variable rate based on The Wall Street Journal® Prime Rate (8.5% on 5/2/2024) plus a margin that varies depending on the state in which property is located, individual credit qualifications, credit limit amount, loan to value ratio and other criteria. Rates shown are for first lien lines of credit of $100,000 secured by an owner occupied 1 to 4 family residence, in Illinois, with a loan-to-value (LTV) of 70% or less, and a FICO credit score of 780+, and includes a 0.25% Auto Pay discount. Rates vary from 8.50% APR to 14.12% APR depending on property state, loan amount and other variables. Please consult a banker for pricing in your region. Your APR will never be lower than the floor rate in the credit agreement, or exceed 18.00% APR or the maximum APR permitted by law, whichever is less. To receive a 0.25% Auto Pay rate discount you must authorize BMO at origination to withdraw your home equity line of credit payment each month from an eligible BMO checking account (Auto Pay). The discount can only be applied to a new Home Equity Line of Credit.
