Mortgage & Loans

¹Requires 720 or Greater Fico Score and auto Pay from an RCB Checking account

²APR (Annual Percentage Rate) - is the annual rate that is charged for borrowing, expressed as a single percentage number that represents the actual yearly costs of funds over the term of the loan. This includes any fees or additional costs associated with the transaction.

³12 Month Discount Home Equity Line of Credit

Prime minus .51%; Applicant(s) with a FICO Score equal or greater than 720, an automatic payment withdrawal from a Reading Cooperative Bank checking account will receive the 3.99% introductory APR (Annual Percentage Rate)  for the first 12 months following account set up effective 10/31/2019. After the initial rate period, a minimum APR will apply. Current Prime Rate less 0.51% (currently 4.75% - 0.51% = 4.24% APR). This introductory rate offer is subject to change and is limited to one introductory offer per property address and per household and is not eligible for refinancing at the introductory rate.

⁴Home Equity Line of Credit Standard Program

If applicant(s) does not meet above mentioned requirements, the Home Equity Standard Program Product may be available. Refer to the Home Equity Line Disclosure: Standard Program below for details.

⁵Variable APR (Annual Percentage Rate) based on the Wall Street Journal Prime Rate published on the last business day of the month 4.75% as of 10/312019. Rates are subject to change. Maximum APR 18.00%. An initial draw of $25,000 is required to be made at closing and remain outstanding for 90-days to waive a $500.00 processing fee. The initial draw excludes any payoff to an existing loan with Reading Cooperative Bank. Interest only payments for initial 10 years, with additional 15 years’ payback of Principal & Interest. Maximum LTV 80%, rate and terms may vary based upon credit history. Not available for homes currently for sale or intended to be sold. Subject to credit approval. 1-4 family, owner occupied primary residences, and condominiums qualify. Property insurance required. Flood insurance may be required. Consult a tax advisor for information regarding the deductibility of interest and charges. To open, maintain and discharge a line of credit, you may have to pay certain fees. These fees generally total between $145.00 and $950.00. During the life of the program you will be assessed an Annual Fee of $50.00 on the anniversary date of the loan. An early termination fee of $500.00 applies for lines closed within thirty-six (36) months from date of closing.

¹APR (Annual Percentage Rate) - is the annual rate that is charged for borrowing, expressed as a single percentage number that represents the actual yearly costs of funds over the term of the loan. This includes any fees or additional costs associated with the transaction.

^*APR = Annual Percentage Rate

¹New vehicles - maximum of 95% of Purchase Price (must have less than 6,000 miles and be titled). Loans up to $50,000, max term 6 years for new cars (2020 model year). 
²Used vehicles - maximum of 80% of Purchase Price or NADA blue book value, whichever is less (autos with model years not older than 5 years - currently 2015). 
³25bp discount for loans set up with monthly automatic payments from RCB deposit account (excludes HELOC products). 
⁴Loan is fully amortizing. 
⁵Minimum Loan Amount $500. Maximum loan amount $10,000. 
⁶Finance up to 95% of Account Balance - Account must be at RCB.

Rates and terms are effective as of January 7, 2020 and are subject to change at any time without notice.