The right tools are important when it comes to home improvement. Start with the WaterStone Bank OptionFlex Home Equity Line-of-Credit!

6 Month Fixed Intro Rate of 1.95%APR* Variable Rate After Intro Period 3.99%APR*

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For more information call 888.686.7272, or click here to contact us.

*Advertised Annual Percentage Rate (APR), interest rate and loan programs are subject to change at any time. APR listed is effective as of 3/21/2016. Advertised APR is available on WaterStone Bank SSB (WSB) OptionFlex Line-of-Credit up to 80% Loan-to Value (LTV) with a credit limit greater than $100,000, and meeting required credit qualifications. Intro Rate APR will be fixed for 6 months from closing date. After the 6 month Intro Period the APR will be variable and based upon an index (Prime Rate) minus a margin of .50%. Prime Rate is the index identified as the U.S. Prime Rate as published in the Wall Street Journal Money Rates Table on the last business day of the month, and is subject to change monthly. APR will not exceed 18% (cap) or be less than 3.99% (floor) and property insurance, title insurance and flood insurance, if applicable, are required on all collateral. Third party closing costs can range from $123.13 to $1,039.26 per loan, however you will only be charged a $100.00 processing fee, appraisal and/or title insurance policy fees, if applicable. Other closing costs will be waived. Appraisals are generally required on loan amounts equal to or greater than $250,000 and a title insurance policy is generally required on loan amounts equal to or greater than $100,000. You are eligible for a $100.00 processing fee credit if you set up Auto Pay from a WSB checking account for your WSB OptionFlex Line-of-Credit. WSB will deposit the $100 processing fee you were charged at closing to your WSB checking account within 30 business days of Auto Pay set up. If you terminate your right to obtain advances within 36 months from loan closing, an early termination fee of 2% of the amount prepaid up to a maximum of $500 will apply. WSB OptionFlex Line-of-Credit allows you to make interest only payments. Making interest only monthly payments will result in a balloon payment of the outstanding balance plus any accrued and unpaid interest and fees at the end of the term. Annual Fee of $75 will be charged to your line each year. You are eligible for a $75.00 Annual Fee credit if you have a WSB checking account and meet one of the following requirements within thirty (30) business days of the Annual Fee being charged to your WSB OptionFlex Line-of Credit: (1) You are enrolled in the WSB Military Valor Program, (2) you have a 1st Mortgage loan with WSB that is secured by a 1-4 family owner occupied dwelling which is not considered past due or (3) you have an average outstanding balance on your WSB OptionFlex Line-of Credit of $5,000 or 10% of your Credit Limit whichever is greater. Your average outstanding balance will be calculated by averaging the monthly average balances of your WSB OptionFlex Line of Credit for the 12 months preceding your anniversary date. The Annual Fee credit will be deposited to your WSB checking account within sixty (60) business days of the Annual Fee being charged to your WSB OptionFlex Line-of Credit. WSB OptionFlex Line of Credit has a Minimum Loan Amount of $5,000 and a Maximum Loan Amount is $500,000. Owner occupied collateral only and must be located in the following Wisconsin counties: Milwaukee, Waukesha, Ozaukee, Washington, Racine, Kenosha and Walworth. Consult a tax advisor regarding tax deductibility of interest. Your WSB OptionFlex Line-of-Credit variable rate APR will depend upon your LTV, credit limit, and credit qualifications. Refinances of any existing WSB HELOC or WSB OptionFlex Line-of Credit loan are excluded from this offer. Please stop by a branch location for more information. WaterStone Bank SSB NMLS #407327