Personal Loans in RI

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Before applying for a home equity line of credit, you must read the disclosures linked below. Please click on the links to read. Once you’ve finished, print or save a copy of the disclosures for your records, and then click “Apply” to proceed to the application.

*APR = Annual Percentage Rate. All advertised rates require automatic payment deduction from a Coastway checking or savings account. Minimum loan amount to avoid closing costs is $25, 000; otherwise, estimated closing costs of between $500 and $800 will apply. 1 – 4 family owner occupied primary residences only. Property insurance (including flood insurance, if applicable) is required. All advertised rates are the lowest available, and are subject to individual creditworthiness, including a maximum loan-to-value ratio of 80%. Other rates and terms are available and certain restrictions apply. Rates subject to change without notice.

Freeway Convertible PrimeLine– Advertised APR is based on the Wall Street Journal Prime Rate. As of January 6, 2016, the Prime Rate is 3.50%. Line of credit rates are variable and may change monthly after account is opened. Advertised rates require an active Coastway checking account (”active” is defined as a minimum of 3 transactions per month); otherwise, the rate will automatically increase by 0.50 percentage points and an annual fee of $100 will apply. Maximum APR is 21%. A pre-payment penalty of up to 1.0% of the balance due at the time the line of credit is paid off and closed will apply during the first two years.

Home Equity Loan– Repayment examples: If you borrowed $20, 000 for 5 years at 4.00% APR, your monthly principal and interest payments would be $368.38. If you borrowed $20, 000 for 10 years at 4.49% APR, your monthly principal and interest payments would be $207.23. If you borrowed $20, 000 for 15 years at 4.99% APR, your monthly principal and interest payments would be $158.11. Payment examples do not include taxes and insurance. Your actual payment obligation may be greater than shown in the examples.

Interesting facts

• Charles Gus Johnson (October 12, 1880 – October 14, 1957) served as California State Treasurer, 1923-1956. He was the longest-serving state treasurer. He was forced to resign in 1956 after stories began to emerge over him funneling state funds into personal loans.
• Americas United Bank is a commercial bank, primarily owned by Hispanic entrepreneurs and professionals from the greater Los Angeles area. The Bank provides business and personal banking services to small-to-medium-sized businesses, professionals and entrepreneurs.
  Americas United Bank opened its doors for business in Glendale, California as a...