Fraud Prevention Regulatory Updates

Equity Choice Line of Credit

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QNB's Equity Choice is a home equity line of credit that offers unmatched flexibility by combining a line a credit and fixed rate loan into one – it's the only loan you'll ever need! You have the option
to fix portions of your line of credit and as you make monthly payments your amount of credit is replenished and is available to borrow again. Equity Choice is a good option for borrowing money for various purposes over a period of time. Features include:

  • Convenient Access - transfer funds directly from your Equity Choice to your QNB Checking Account via QNB-Online.
  • Interest rate of 1/2% below the Wall Street Prime Rate (Minimum APR = 4.00%, Maximum APR = 18.00%) with auto-deduction1 from your QNB Checking Account with a floor of 4% for auto-deduction and 4.5% for non auto-deduction.
  • Borrow up to 80% of your home’s equity.
  • Minimum loan amount is $10,000.
  • 20 year draw period.
  • No closing costs on cash-out balances of $25,0002 or more in new money.
  • One-time application, no need to reapply to fix portions.
  • Fix Portions of your line of credit:
    • Fix up to two portions of your line per year (minimum amount $5,000)
    • Fix at any current fixed rate and term up to 15 years.
    • Fix fee of $75 (waived if fixed at time of loan settlement).
  • You may be able to deduct the interest you pay on your Equity Choice from your Federal taxes (consult your tax advisor regarding your individual situation).

1Without auto-deduction the rate is equal to the Wall Street Prime Rate (Minimum APR = 4.50%, Maximum APR = 18.00%). 2Closing costs of $150 apply for balances less than $25,000. Late Charge of $20 or 5% of payment amount. Applicants must meet credit criteria.
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