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A small home-equity loan was taken out last year with a Buffalo, New York-based bank by President Joseph R. Biden Jr.
A filing with the U.S. Office of Government Ethics revealed the President’s personal financial statement for 2022.
In the liabilities section, Biden listed a 3.375 percent first mortgage taken out in 2013 with TD Bank, a subsidiary of Canadian-based TD Bank Group. The loan, which is between $250,001 and $500,000, is secured by his personal residence (the other one).
Biden additionally disclosed a home-equity loan that is also secured by his Wilmington, Delaware, home.
According to the filing, the 10-year loan was closed last year for an amount between $15,001 and $50,000. The variable interest rate on the loan is prime plus 1.99 percent.
The lender on the President’s HEL is Buffalo-based M&T Bank.
