Business Lines of Credit Rates

Business Lines of Credit Rates

Effective July 29, 2016

Unsecured Lines Of Credit

Loan Type Min Loan Max Loan Max Term Risk-Based Pricing Range Loan Fees ** Min Adj. Period1
Business Line Quick App. Preferred $2,500 $5,000   14.000% n/a n/a A W
Business Line Quick App. Standard $1,000 $1,000   16.000% n/a n/a A W
Business Line Quick App. Custom $500 $500   18.000% n/a n/a A W
Business Line Unsecured $5,000 $50,000 2 yrs. 6.000% 12.250% $100 V M

Secured Lines Of Credit

Loan Type Min Loan Max Loan Max Term Risk-Based Pricing Range Loan Fees ** Min Adj Period1
Business Line Business Assets $5,000 $3,500,000 2 yrs. 5.250% 18.000% See schedule below V M
Business Line Other Collateral $10,000 $1,500,000 2 yrs. 5.500% 18.000% See schedule below V M
Business Line Gov't Guaranteed $25,000 $2,500,000 2 yrs. 5.500% 8.250% See schedule below V M
Business Line Real Estate (BLOC) $25,000 $1,000,000 10 yrs. 5.000% 18.000% 1 point V Q
Business Line Real Estate (int only BLOC) $25,000 $1,000,000 5 yrs. 5.000% 18.000% 1 point V M
Business Line Personal Residence $25,000 $1,000,000 10 yrs. 5.000% 18.000% 1 point V Q
Business Line Personal Residence (int only $25,000 $1,000,000 5 yrs. 5.000% 18.000% 1 point V M
Business Line North Island Share $1,000 $5,000,000 2 yrs. 3.500% 9.500% n/a V M

Business Loan Fee (For Select Loans Indicated Above)

Loans up to $50,000 $150 Prime Rate: 3.500%
5yr TCM: .095%
$50,001 to $100,000 $200  
$100,001 to $500,000 $350  
$500,001 to $1,000,000 $750  
Loans over $1,000,000 $1,000  
Additional out-of-pocket fees may apply for secured loans    
Credit Report $75  
Appraisal Fee at cost
(by an approved appraiser)
 
Title Insurance at cost (see Note #1)  
Escrow at cost (see Note #2)  
Tax Service $120 (loans up to $499M; add $10 per $100M)  
Recording Fees $55 (estimate)  
UCC Filing/Search $17 (estimate)  
Flood Certification $50 (per building)  
Environmental Report $450 (if indicated)  
Phase I or II Report at cost (if indicated)  

** A = Rate adjusted from time to time by North Island
V = Rate varies periodically according to index
F = Rate is fixed for the term of the loan1
F = Fixed
M = Monthly
Q = Quarterly
W = Weekly
N = N/A

Note #1
For loans under $250,000 secured by a Second TD we will order a Limited Policy at an estimated cost of $150. For loans over $250,000 we will order a CLTA Title Policy. For loans secured by First TDs we will order full ALTA Policies. Charges to the borrower will be at our cost.

Note #2
For loans under $250,000 that include the refinance of existing mortgages, we will order a sub-escrow at an estimated cost of $125. For loans with refinances over $250,000 we will need a full escrow, charges at our cost.

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