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Home Equity Rates     

Effective Date    11/03/09

All rates are subject to change without notice.

Home Equity Loan Programs Interest Rates Annual Percentage Yield (APY) Thereafter
Pure Excitement Home Equity Line1 3.49% APR 3.49% APR $7.14
1 APR (Annual Percentage Rate) available for qualifying properties with loan-to-value of 80% or less and is available for lines $10,000 and over. APR is based on Prime Rate (currently 3.25% APR as of 1/31/09), found in the “Money Rate” section of the Wall Street Journal plus .24% for life. The Prime plus .24% feature includes a discount for Direct Deposit to a Berkshire Bank checking account and an initial draw of $5000.00 at the end of the rescission period or day of recording. If you choose not to participate in either of these features, your rate will revert to Prime plus .50%. APRs are variable and may increase after consummation. The maximum APR that can apply is 18% and the minimum APR can be no lower than 3.49%. If the line of credit is paid off and closed during the first 36 months, an early termination fee of $450.00 will be assessed. An Annual Fee of $50 will apply. New York State Mortgage Tax will apply for lines of $250,000 or more, the customer pays the New York State Mortgage Tax at closing. If the line of credit is paid off and closed during the first 36 months, an early termination fee of $450.00 will be assessed and if in New York State; the New York State mortgage tax previously paid will be recovered. A $15 service fee will be assessed for advances less than $250. Homeowners insurance required. Flood insurance may be required. All lines subject to credit approval. Offer subject to change without notice and available for new customers only.

Please request further information from a Financial Services Representative concering the fees and terms applicable for these accounts at (413) 443-5601 or 1-800-773-5601 or stop into any Berkshire Bank location.
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Rates