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1 APR is a variable rate based on the Prime Lending Rate published in The Wall Street Journal plus a margin of 0.50% to 2.50% depending on LTV, loan amount and credit score. As of 03/18/2021, the APR can range from 5.00% to 5.75% (refer to the Northrim Bank Loan Interest Rate Sheet). The APR will not exceed 17.00%.
2 Homeowners insurance is required. For loan applications received on or after 6/12/2020, Northrim Bank will pay up to $500 of closing costs and fees at account opening. Fees generally range between $579 and $3,515.
3 $50 transaction fee for a fixed rate loan option. Fix all or a portion of the line of credit for a term of 1-15 years with a minimum draw of $5,001. Additional rate discount of 0.25% for automatic payments from a Northrim Bank checking or savings account.