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Karla Christiansen – 508.523.6393
» Western Massachusetts –
Jason Niles – 413.449.4697
that requires some
funding
Consider applying for a home equity
loan with fixed rates and no closing
costs. Plus, MTA members receive a
.25% APR discount3 on second lien
home equity loans with a Berkshire
Bank checking account.
Home Equity Loan
Maybe you need a consumer loan — secured personal, auto, boat,
motorcycle, ATV, snowmobile or watercraft. MTA members receive
a .50% APR discount4 on qualifying loans with automatic payment
from a Berkshire Bank checking account!
Consumer Loans
Variable rate based on Wall Street Journal prime variable rate with a margin of -.50%.
It’s a good time to apply for a home equity line with low rates and no
closing costs. Plus, the $50 annual fee is waived each year for MTA
members for the life of the home equity line of credit.
Home Equity Line of Credit
» Make home improvements
» Consolidate your debt
» Fund an important purchase
» Help pay for major expenses
3.25%APR2
MEMBERS
GET MORE
Family member
benefits and
discounts¹
Life is exciting. Let us help.SM
Banking · Insurance
Banking products are provided by Berkshire Bank: Member FDIC. Equal Housing Lender. Berkshire Bank is a Massachusetts chartered bank. Loan products are subject to credit approval. Berkshire
Bank Institution NMLS Registry Number – 506896. Home Equity Line: 20-year line of credit with a 10-year interest-only draw period, followed by a 10-year principal and interest repayment period. Annual
Percentage Rate (APR) as of 12/30/2015 is variable based on prime as found in the Money Rate section of The Wall Street Journal and is floating during the life of the loan. ¹Immediate family member is defined
as mother, father, sister, brother, son, daughter or the surviving spouse or domestic partner of a deceased active or retired MTA member who is not other wise eligible for active membership. 2 The minimum APR
can be no lower than 3.25% and will never exceed 18.00%. The stated APR of 3.25% is with a margin of -.50%. The margins are as follows: For a line amount of $15,000-$24,999 is +0.00%; for a line amount of
$25,000-$250,000 is -.50%; for a line amount $250,001+ 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. +.50% will be added to the margin for an approved bank policy exception. The annual fee of $50 will be waived for M TA members for the life of the loan;
a minimum advance fee of $15 is charged for advances of less than $250; stop-payment fee of $25; return check charge of $25. If the line 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. For NY 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. The Bank pays all standard fees for loans of $250,000 or less. Non-standard third-party charges
are paid by the customer and include: 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 lines exceeding $250,000, the customer pays the cost of lender’s title insurance, attorney’s fee over $250, and the portion of the N YS mortgage tax on the line amount exceeding $250,000. Loan approval is subject to
underwriting criteria. First or second lien on 1-4 family owner-occupied residences and qualified second homes only. Offer does not apply to non-owner-occupied properties, rehabilitation loans, manufactured housing or homes
currently offered for sale. Homeowners insurance is required. Flood insurance may be required. Offer subject to change without notice. Interest may be tax-deductible; check with your tax adviser. Home Equity Loan: Payment
chosen must amortize over five-, 10-, 15- or 20-year term. 3 The APR .25% discount is available on second lien home equity loans for qualifying properties in Berkshire Bank’s footprint with a loan-to-value (LTV) of 80% or less for
loans of $15,000-250,000. An equity loan of $75,000 with a five-year term at 3.990% APR results in 60 monthly payments of $1,381.01 for second lien. An equity loan of $75,000 with a 10-year term at 4.250% APR results in 120
monthly payments of $768.40 for second lien. An equity loan of $75,000 with a 15-year term at 4.490% APR results in 180 monthly payments of $573.49 for second lien. An equity loan of $75,000 with a 20-year term at 4.875%
APR results in 240 monthly payments of $489.95 for second lien. To obtain the APRs above, a Berkshire Bank Checking Account is required. Minimum loan amount is $15,000 and maximum loan amount is $250,000. +.50% will be
added to the APR for an approved bank policy exception. 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. For NY 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. The Bank pays all standard fees for loans of $250,000 or less. Non-standard third-party charges are paid by the customer and include: 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
lender’s title insurance, attorney’s fee over $250, and the portion of the NYS mortgage tax on the line amount exceeding $250,000. Loan approval is subject to underwriting criteria. First or second lien on 1-4 family owner-occupied
residences and qualified second homes only. Offer does not apply to non-owner-occupied properties, rehabilitation loans, manufactured housing or homes currently offered for sale. Homeowners insurance is required. Flood
insurance may be required. Offer subject to change without notice. Interest may be tax-deductible; check with your tax advisor. 4Consumer Loan: Consumer loans qualifying for the .50% APR (Annual Percentage Rate) discount are
limited to secure personal, auto, boat, motorcycle, ATV, snowmobile, or watercraft and require automatic payment from a Berkshire Bank checking account. Other fees may apply.
