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Home Equity Loans and Lines

Your home is one of your greatest assets. At 1st Mariner Bank, our loan specialists will work with you to help you obtain the lowest possible interest rates and best terms for home equity loans and lines of credit. Whether you’re funding home repairs or securing a line of credit to take care of life’s unexpected events, 1st Mariner Bank’s home equity options are designed to help meet your needs and goals. You can use your home equity loan or line of credit for whatever fits your unique situation—talk to us today to learn more.

  • Finance home improvements.
  • Consolidate bills.
  • Create a cushion for life’s unexpected expenses.

Home Equity Loans

With attractive interest rates and flexible terms, 1st Mariner Bank’s Home Equity Loans are designed with you in mind. Home equity loans allow you to enjoy the stability of a fixed monthly payment and a fixed rate.

Home Equity Lines of Credit

Enjoy the flexibility and attractive interest rates of the 1st Mariner Bank Home Equity Line of Credit. Use as much of the credit line as you like, then replenish your credit line for future expenses.

Home Equity Loan vs. Line of Credit Comparison

View the chart below to learn more about these two convenient and practical financing options. You can also visit our Home Equity FAQ page.

  Home Equity Line of Credit Home Equity Loan

Access to Funds

A home equity line of credit is a revolving credit line allowing you to continually borrow up to your credit limit.

Simply write a check to access your funds.

Transfer funds online or make online payments.

Access your funds when you need them for ongoing projects such as:

  • home improvements
  • college expenses
  • financial emergencies
  • unexpected credit needs 

Loan Proceeds are disbursed in one lump sum.

Lump sum disbursement is ideal when making large purchases, consolidating debt or for other one-time credit needs.

Interest Rates

Interest rate is variable based upon the Prime Rate Index as set by The Wall Street Journal.

Rates will not fluctuate more than once a month.

Variable rate interest offers the best monthly rate in relation to economic trends.

The interest rate is fixed at settlement and remains the same during the life
of the loan.

Fixed, competitive interest rate.

Monthly Payments

The 1st Mariner Bank Home Equity Line of Credit has two periods, the draw period and repayment period

Only payments of interest are required during the draw period.1

During the repayment period, payments will be due monthly and will equal 0.417% of the balance outstanding at the end of the draw period plus finance charges that accrued on the outstanding balance. The 0.417% is based on 1/240 of the maximum loan term available (1 divided by 240 months = 0.41666 x 100 = 0.417%).1

Borrow more but maintain a lower monthly payment. You may choose to pay interest only or principal and interest during the draw period.1

Monthly payments are fixed and remain the same during the life of the loan. Fixed monthly payments make it easy to budget your monthly payments and offer stability with payments that never change.

Potential Tax Deductibility?



Overall Benefit

You choose when to access funds and how to repay the loan while taking advantage of potential tax benefits.2

With fixed interest and fixed payments, this loan is easy to budget while taking advantage of potential tax benefits.2


1. Additional Disclosure Information about Your Home Equity Line of Credt 
The deferred Closing Cost feature is subject to the terms and conditions stated
in the Deferred Closing Cost Addendum to Home Equity Line of Credit Agreement, Home Equity Line of Credit Agreement and Home Equity Line of Credit Terms & Conditions, which requires you to keep the account open for three years. This feature does not include special costs which may arise in certain situations. For example, attorney fees for trust arrangements, title insurance, survey fees and fees incurred for the preparation of legal documents where both borrower and owner of the property differ. Prince Georges’ County transfer tax must be paid at settlement by borrower. If you close the account earlier, the deferred closing costs will become due and payable.

2. Tax Deductibility 
You should consult a tax advisor regarding the deductibility of interest and charges under the plan.

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