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.**

Fixed-Rate Home Equity Loan

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

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 9/12/2023. 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.

**For loans under $75,000, the borrower will be responsible for closing costs of approximately $779.60, 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.

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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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