The Annual Percentage Rate (APR) is the Prime Rate minus one half of one percentage point (.5%).

The APR may vary monthly based on the Prime Rate as published in the Wall Street Journal on the last business day of the month. In the event that more than one rate is published as the "Prime Rate", we will use the highest rate so published. The Prime Rate as of August 29, 2008 is 5.00%.

Terms: Monthly variable interest-only payment, maximum APR: 15.50%, Minimum APR: 4.75%
Draw Period: 15 Years
Maximum Loan to Value: 80%
Lines from $25,000 - $250,000
Request for discharge of equity line mortgage within the first 24 months of your loan may result in payment of an additional fee.
See below for applicable fees.

Customers refinancing an existing Winchester Savings Bank Home Equity Line of Credit (2nd lien position only), may be required to pay closing costs and a refinance fee equal to one half of one percentage point (.5%) of the existing credit limit.

Maximum Term: 20 years
Maximum Loan To Value: 80%
Loans From $10,000 - $250,000

Home Equity 1 Year ARM
This home equity product is a variable periodic rate. The discounted rate will be in effect for the first year of the loan. In year two, the variable rate can change, based on the one year Treasury note rate plus a margin of 3.25% (fully indexed rate). There is a 2.00% periodic cap and a lifetime cap of 6.00% above the introductory note rate. See below for applicable fees.

Home Equity 3 Year ARM
This home equity product is a variable periodic rate. The discounted rate will be in effect for the first three years of the loan. In year four, the variable rate can change, based on the three year Treasury note rate plus a margin of 3.25% (fully indexed rate). There is a 2.00% periodic cap and a lifetime cap of 6.00% above the introductory note rate. See below for applicable fees.

Loan to Value: 80%
Amounts $5,000 - $250,000

15/1 Adjustable Rate Loan

Initial Rate	APR	Fully Indexed Rate	Monthly cost per $1,000 borrowed based on the initial rate and a 20-year term
6.99%	6.91%	5.125%	$7.76

*ARM Index published by: The Federal Reserve Board Listing the weekly average yield on US Treasury Securities adjusted to a constant maturity of one year in the selected interest rate publication H-15. Annual Percentage Rates may increase after consummation.

Fees Applicable to All Home Equity Lines and Loans

• Equity loans are offered on owner-occupied 1-4 family dwellings.
• Home Equity Line of Credit currently offered with no closing costs is for new customers only. Home Equity Fixed and Adjustable Rate Loans are currently offered with no closing costs, but a minimum loan amount of $50,000 in first lien position, or $20,000 in second lien position, is required to qualify. If applicable, closing costs range from $300.00 to $1,500.00.
• An appraisal is sometimes required at a cost of $300.00 to $500.00.
• A Good Faith Itemization of Fees is available from our Consumer Loan Department.
• Property Insurance is required sufficient to cover the Equity Line/Loan and any first mortgage lien.
• Rates are subject to change.

Discount for Direct Deposit and Automatic Payment Plan (Does not apply to Home Equity Lines of Credit)

• The Winchester Savings Bank ("we or us") will discount the interest rate on your Home Equity Loan by 1/4 of one percentage point based upon your agreement to maintain a checking account with us, maintain sufficient collected balances in said account in order to permit us to automatically charge the monthly payments on their due date and have your payroll, social security, or retirement payments electronically deposited into your checking account on a regular basis.