Webster Bank’s general parameters for consumer lending products

Home Equity Lines of Credit

• Home Equity Line of Credit amounts from $10,000 to $500,000 in CT, NJ and RI (call for lines of credit > $500,000) and $10,000 to $750,000 in MA and NY.
• For MA and NY only, line of credit amounts up to $750,000 with a Combined Loan-to-Value (CLTV) up to 80%. For CT, NJ and RI, line of credit amounts up to $500,000 with a Combined Loan-to-Value (CLTV) up to 80%.
• Lines of Credit are available where Property State is CT, NJ, MA, NY, and RI.
• 1-4 Family owner-occupied residences and 1-unit second homes.
• Investment properties available at higher rates. Combined Loan-to-Value (CLTV) restrictions may apply.
• Properties currently listed for sale are ineligible, however may be eligible for a Bridge Line of Credit.

Appraisal: An appraisal will be required to assess the value of the home. This value will represent the full value of the home that Webster will use for calculating the Combined Loan-to-Value (CLTV) amount, which will impact the rates and lending options available.

Restrictions: Home Equity Lines of Credit are available in CT, NJ, MA, RI, NY, with a minimum of $10,000 and maximum of $500,000 in CT, NJ and RI, and a maximum of $750,000 in MA and NY. No closing costs for home equity lines of credit up to $500,000 that are secured by 1-4 family, owner-occupied residences. There are no fees or costs retained by Webster Bank, but for certain lines of credit a Structural Engineering Assessment Report or Transfer Tax may be required and the borrower would be required to pay for this as part of the line of credit process. Hazard insurance is required. Flood insurance is required, if applicable.

Home Equity Loans

• Home Equity Loan amounts from $10,000 to $500,000 in CT, NJ and RI (call for loans > $500,000) and $10,000 to $750,000 in MA and NY
• For loan amounts less than or equal to $250,000, Combined Loan-to-Value (CLTV) up to 80% in CT, NJ, RI, MA and NY
• For MA and NY only, loan amounts between $250,000 and $750,000 with a Combined Loan-to-Value (CLTV) up to 75%. For CT, NJ and RI, loan amounts up to $500,000 with a Combined Loan-to-Value (CLTV) up to 80%.
• Home Equity Loans are available where Property State is CT, NJ, MA, NY, and RI
• 1-4 Family owner-occupied residences and 1-unit second homes
• Investment properties available at higher rates. CLTV restrictions may apply
• Properties currently listed for sale are ineligible, however may be eligible for a Bridge Line of Credit.

Appraisal: An appraisal will be required to assess the value of the home. This value will represent the full value of the home that Webster will use for calculating the Combined Loan-to-Value (CLTV) amount, which will impact the rates and lending options available.

Restrictions: Home Equity Loans are available in CT, NJ, MA, RI, and, NY, with a minimum of $10,000 and maximum of $500,000 in CT, NJ and RI, and maximum of $750,000 in MA and NY. No closing costs for home equity loans up to $500,000 that are secured by 1-4 family, owner-occupied residences. There are no fees or costs retained by Webster Bank, but for certain loans a Structural Engineering Assessment Report or Transfer Tax may be required and the borrower would be required to pay for this as part of the loan process. Hazard insurance is required. Flood insurance is required, if applicable.

All loans and lines of credit are subject to credit approval.