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Home Equity Line of Credit

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Our Home Equity Line of Credit offers the convenience of being there when you need it. Draw only what you need, and make monthly payments based on your balance.

 

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With a line of equity available to you, you'll never have to worry about last minute budgeting for surprise repairs.

 

Simply borrow what you need to fund your project, whenever you need it. You'll only pay back what you use.

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Consolidate Existing Debt

If you’re looking to consolidate existing debt or lower your interest rate, a Home Equity Line of Credit is a great choice.

Make an Improvement to Your Home.

Looking to finance your next home improvement project, and have equity in your home that you can use? The Home Equity Line of Credit could be your answer.

Competitive Interest Rates 

Our interest rate is priced below the Prime rate, allowing you to keep more of your equity.

Home Equity Line of Credit Rates

Product Annual Percentage Rate Max Term Limits
12 Month Special Introductory Rate ^ 1.99% -- --
Up to 80% Loan-to-Value Home Equity Line of Credit 3.50% 10 year draw, 10 year repay  $250,000.00
Over 80% to 90% Loan-to-Value Home Equity Line of Credit 4.25% 10 year draw, 10 year repay  $250,000.00

 

^ After 12 months, your interest rate will be variable based on the prime rate. The current prime rate is 3.25%. Introductory 1.99% APR available for first 12 months if loan is approved prior to November 30, 2021. After the introductory period expires, your APR will be based on a combination of your home, income, credit score, credit verification and an 80% LTV. The floor rate is 3.50% APR on a ten-year term, and a LTV of 80% or lower with a credit score of 750 or higher. Higher rates apply for loans up to 90% LTV. Current UMassFive Home Equity Lines of Credit must be increased a minimum of $25,000 to qualify for the promotional rate and term.

Ready to Apply for a Home Equity Line of Credit?

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