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Home Equity

A Home Equity Loan or Line of Credit can be the answer when it’s time to take care of home improvements, pay school tuition, or pay for unexpected life events. You just might find the cash you need right under your own roof. 

Apply online or talk to our team to see which one is right for you.

Fixed-Rate Home Equity Loan Special

Closing costs waived on Home Equity Loans of $75,000 or more.**

Home Equity

Fixed-Rate Home Equity Loan

15 Year Home Equity Loan

6.25%

Annual Percentage Rate*

20 Year Home Equity Loan

6.50%

Annual Percentage Rate*

  • Borrow up to $350,000
  • Loan to Value – 80% Appraised
  • Fixed monthly payments
  • Funds are distributed in one lump sum
  • 15 & 20 year options

Home Equity Line of Credit

  • Borrow up to $500,000
  • Loan to Value – 80% Appraised
  • Varied monthly payments based on the amount you borrow
  • Access funds as you need them
  • 10 year draw period and 10 year repayment period

Where we lend

We are happy to consider a real estate loan request for properties located anywhere in the Massachusetts counties of Middlesex, Essex, Worcester, Suffolk and Norfolk, as well as, properties located anywhere in the New Hampshire counties of Rockingham, Hillsborough, and Cheshire.

*APR=Annual Percentage Rate effective 5/15/2024. Subject to credit and property approval. Hazard insurance is required. Flood insurance may be required. Property must be 1 to 4-family owner-occupied. Loan-to-Value of up to 80% of your home’s appraised value. This loan must be recorded in second position, junior to an existing first mortgage.

The borrower will be responsible for closing costs of approximately $811.60, which includes the Attorney Fee, Recording Fee, Flood Certificate Fee, MLC Fee, and Credit Report Fee. The Bank will pay for the appraisal. You should consult with a tax adviser about the deductibility of interest and charges paid on your Home Equity Loan. All interest rates and program guidelines may change without prior notice. Other restrictions may apply. Other rates and terms are available.

From our customers
“I have been banking here for a number of years. I love this bank! Customer service is awesome. Anytime I had a problem it was resolved professionally.”

From our customers
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From our customers
“I feel you excel in all areas but I am very appreciative of the kindness with which I have been treated all these years, by everyone at the TSB, whether in person or on the phone.”

From our customers
Friendly, helpful, and pleasant tellers in the Greenwood, Wakefield branch!

From our customers
“I’ve used TSB for approximately 40 years. They have always been helpful and kind. Never had an issue. Love banking with TSB and all of the wonderful employees.”

From our customers
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From our customers
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From our customers
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From our customers
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From our customers
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From our customers
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From our customers
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From our customers
“I feel you excel in all areas but I am very appreciative of the kindness with which I have been treated all these years, by everyone at the TSB, whether in person or on the phone.”

From our customers
“I like the real hometown feel you get with The Savings Bank. Staff at ALL branches are wonderful, making the personal interaction very pleasant.  I have been banking with you since 1978 and have never had even one issue.”

Talk to The Savings Bank

To find out how The Savings Bank can help you achieve all your financial goals, visit one of our offices, use our contact form, or call us at 800-246-2009.

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