Consumer Loans
Whether you are looking for a Consumer Loan, Home Equity Line of Credit, or MasterCard, Rockport National Bank can put together a program to fit your particular needs and budget. Use our convenient Loan Calculator to help you calculate payment information.
Home Equity Line of Credit Plus Apply Online
Home Equity Line of Credit with Fixed-Rate Option**
- No Points
- Fixed Rate/Lock-In Option
- Flexible – Combines Variable Line and Fixed Rate Loans
- No Annual Fees
Our unique “Home Equity Plus” not only provides the convenience of a variable rate Home Equity Line of Credit, but also the ability to fix the rate, payment, and term on all or a portion of your Home Equity Line, while keeping the variable portion open for additional use. The Fixed Rate Loan option is available when needed, without re-applying or re-financing. As the loan principal is reduced the line will increase and become available for use at the current variable rate. The minimum Fixed Rate Lock-In amount is $10,000.00, with a regular principal and interest payment and a term of no more than 10 years, not to exceed the maturity date of the mortgage. The “locked in” payment must be automatically withdrawn from a Rockport National Bank account. Please Apply Online or see a Customer Service Representative for more details.
**The “Equity Plus” Revolving Line of Credit has a Variable Annual Percentage Rate (APR) equal to the Wall St. Journal Prime (WSJP) less .25% for lines of 50,000 or more. Lines less than $50,000 have a variable APR equal to the WSJP plus 1.00%. There is a .25% discount on the variable loan payment when it is deducted from a Rockport National Bank account, subject to the floor of 4.00%. The APR can change monthly after remaining fixed for 1 day. The Revolving Line of Credit is subject to a floor rate 4.00%; there is a lifetime interest cap of 18%. Minimum Payment Requirement: The amount of accrued finance charges plus 0.50% of the principal balance outstanding on the last day of the billing cycle. The minimum monthly payments may not be sufficient to fully repay the principal that is outstanding on your line of credit at the end of 10 years. If they are not, you will then be required to pay the entire balance in a single payment.
Rate Locks: The minimum Lock-In amount is $10,000; payments must be automatically withdrawn from an RNB account. For rate lock loans $10,000 or more, the Fixed Rate/Lock-In portion is equal to the WSJP less .75%, with a floor of 5.50%. A maximum of 5 rate locks are allowed. The first rate lock is free; each additional lock is $75.00. The loan to value ratio cannot exceed 80%. Eligible on 1-4 family owner-occupied residences only. Property insurance required. There is a penalty for early termination, defined as within 12 months. The rate/offer is subject to change without notice. Closing costs apply. The Equity Plus program is for new lines only. Existing RNB Rockline customers can switch to the new program by signing a Change of Terms and Conditions Form and paying a $100.00 fee. The interest you pay may be tax deductible, so please consult your tax advisor. Please see our Disclosures for additional information, visit http://rockportnational.mortgagewebcenter.com or contact us at 978 546 3411.
MasterCard Apply Online
Our MasterCard offers great benefits and a low rate with no annual fee. You can also enjoy the convenience of managing and paying your Rockport National MasterCard account online! Click Here to Log In.
Auto Loans Apply Online
When the New England weather has taken its toll on your car, we’ll finance both new and used cars with flexible terms that suit your needs. Our fast turnaround will save you time. Our low fixed rates will save you money.
Overdraft Protection Apply Online
With a convenient revolving cash reserve line, linked to your RNB checking account, funds are automatically advanced, in $100 increments, to cover your overdraft (up to the amount of your credit limit). Don’t be caught short again!
Personal Loans Apply Online
We also offer personal unsecured installment loans. Please apply online or contact a Customer Service Specialist for more information.
Boat Loans
Financing is available to qualified buyers for the purchase of new and used boats at competitive fixed rates.
