The hyperlinks to these Internet sites are provided solely as a convenience to the users of the Berkshire Bank Internet site. The Bank has made a limited effort to determine that these links function properly. However, linked sites are not under the control of the Bank, and the Bank is not responsible for the contents of any linked site, or any link contained in a linked site. You are responsible for confirming the identity and authenticity of any site you visit and transact business with online. The inclusion of a link does not imply or constitute an endorsement by the Bank, its ownership or management, the products or services it offers, or any advertisers or sponsors appearing on these web sites.
You can click the Return to Berkshire Bank button now to return
to the previous page or you can use the Back button on your browser after you leave.
Do not use email to send us confidential or sensitive information such as passwords, account numbers or social security numbers. If you need to provide this type of information, contact us by phone, fax or regular mail.
Banking products are provided by Berkshire Bank: Member FDIC Equal Housing Lender. Berkshire Bank is a Massachusetts chartered bank. Home Equity Loan Products are subject to credit approval. Berkshire Bank Institution NMLS Registry Number - 506896. *Annual Percentage Rate (APR) is available for qualifying properties in Berkshire Bank’s footprint with a loan amount of $15,000 to $400,000.
¹Home Equity Loan: Payment chosen must amortize over 5 year term. As of 10/17/2016, an equity loan of $75,000 with a 5-year term at 3.25% APR results in 60 monthly payments of $1,355.93 for 1st lien. The payment example provided does not include taxes and insurance and the actual payment obligation may be greater. The interest rate and APR shown above are subject to change without notice.
²Home Equity Line of Credit: 20-year line of credit with a 10-year draw period and an interest only monthly payment during the draw period, followed by a 10-year principal and interest repayment period. Annual Percentage Rate (APR) as of 8/1/2016 is variable based on the Index plus the margin. The Index is the Prime Rate as found in the Money Rate section of The Wall Street Journal and is floating during the life of the loan. The minimum APR will never go below 3.25% and will never exceed 18.00%. The stated APR of 3.25% is based on a margin of -.50%. The margins for a loan amount of: $15,000-$24,999 is +0.00%; and $25,000-$400,000 is -.50%; and $400,001+ is 0.00%. Your APR will vary based on your final loan amount and actual finance charges. Stated margins require a Berkshire Bank checking account and $15,000 minimum draw into the Berkshire Bank checking account at closing. Fees: an annual fee of $50 (beginning on the second anniversary date of the agreement date); a minimum advance fee of $15 is charged for advances of less than $250; a stop-payment fee of $25; and a return check charge of $25. The payment example provided does not include taxes and insurance and the actual payment obligation may be greater. The interest rate and APR shown above are subject to change without notice. Minimum loan amount is $15,000 and maximum loan amount is $400,000. The Bank pays all standard fees for loans $250,000 or less. Non-standard third party charges are paid by the customer, which include (if applicable): third party lender’s subordination fee, subordination recording fees, condo/HOA document fees, overnight mailing fees, appraisal upgrade fee, title insurance (if required), and attorney fees over $250. For loans exceeding $250,000, the customer pays the cost of NYS mortgage tax on the loan amount exceeding $250,000. For loans exceeding $400,000, the customer pays the cost of lender’s title insurance, attorney fee over $250, and the portion of the NYS mortgage tax on the loan amount exceeding $250,000. If applicable, the estimated sum of all charges incurred may range from $1,617 to $2,750. Recapture Fee: If the loan is paid in full within the first 36 months, the bona fide third party charges paid by Berkshire Bank in connection with the transaction will be recaptured. This fee will be the lesser of $500 or the actual amount paid by the Lender on behalf of the borrower. NEW YORK PROPERTIES: the recapture fee is the lesser of $500 or the actual amount paid by the Lender on behalf of the borrower together with the total amount of lender paid borrower mortgage tax. First and second lien on 1-4 family owner occupied residences and qualified second homes only. Home equity financing on non-owner occupied properties, rehabilitation loans, manufactured housing, or homes currently offered for sale are not available. Homeowners insurance is required. Flood insurance may also be required. Your APR will vary based on your final loan amount and actual finance charges.
Loan approval is subject to underwriting criteria and subject to credit approval. Other restrictions may apply. Offer is subject to change without notice. To obtain the APR shown above, a Berkshire Bank checking account is required. Consult your tax advisor regarding the deductibility of interest and potential tax savings.
³NO PURCHASE NECESSARY. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. MUST BE 18 YEARS AND OLDER TO PARTICIPATE IN PROMOTION. VOID WHERE PROHIBITED. The Contest begins on September 12, 2016 at 9:00:01 a.m. EST and will end on November 25, 2016 at 11:59:59 p.m. EST (the “Giveaway Period”). For Official Rules, program descriptions and odds disclosure, visit: www.berkshirebank.com/HEchallenge Sponsor: Berkshire Bank, 66 West Street, Pittsfield, MA 01201. The Giveaway is not open to the following persons: employees, agents or representatives of the Sponsor; immediate household family members (parent, child, sibling and spouse) and any other persons with whom the Excluded Individuals reside.
© Berkshire Bank. All Rights Reserved.
Berkshire Bank, 24 North Street, P. O. Box 1308, Pittsfield, Massachusetts 01202-1308, 1-800-773-5601