* The introductory Annual Percentage Rate (APR) of 1.48% is a fixed rate that applies to new Home Equity Lines of Credit qualified applicants during this 6-month promotional period. An additional 3 months at 1.25% applies if a qualified 1st Mariner checking account exists. A qualified checking account is any 1st Mariner checking account that has a direct deposit at least once every 90 days. Qualifying deposits are limited to salary, pension, Social Security or Supplemental Security Income (SSI) benefits and other regular periodic income payments from Third Parties.  Thereafter, it becomes a variable rate, based on the published Wall Street Journal Prime Rate and subject to change without prior notification.

** The current pricing is Prime + 0.25% or 4.25 % APR. The APR is based on the highest rate published as the Prime Rate (the Index) in the Wall Street Journal on the last day of the prior month.  The Prime Rate as 3/31/2017 was 4.00%. An additional 0.25% discount applies when a qualified 1st Mariner checking account exists. The current pricing is Prime + 0% or 4.00% APR.  If the checking account is closed or stops receiving a direct deposit, the rate will increase by 0.25%.  The maximum APR that can apply is 18%.  An outstanding balance of $10,000 at the maximum APR would generate a minimum payment of $150 during the draw period which is $191.67 during the repayment period. Per agreement, repayment period is for 20 years.

Closing costs may apply. These costs generally total between $850 and $1,300 based on a median line amount of $50,000 and depending on the location of the property. The No Closing Cost feature is subject to the terms and conditions stated in the Addendum to Home Equity Line Agreement, Disclosure and Note. We will initially pay these costs, however if line of credit is paid off within 36 months of original note date, closing costs must be reimbursed to 1st Mariner Bank by borrower. Closing costs exclude Prince George's County transfer tax. Our No Closing Cost feature does not include special costs which may arise in certain situations; for example, attorney’s fees for trust arrangements, title insurance, survey fees and fees incurred for the preparation of legal documents where the borrower and owner of the property differ. Adequate property and flood insurance required. Maximum loan amount may not exceed $250,000. Loan to Value will vary based on loan amount but will not exceed 80%. Consult your tax advisor regarding deductibility of interest. This promotion is for a HELOC on primary residences only and all applicants are subject to credit approval. This offer is for a limited time only.