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Recently we’ve all been reminded that having a financial plan for unforeseen circumstances is a necessity. One way that many Mass Bay Credit Union Members have dealt with planned and unforeseen expenses, during recent times and in the past, is tapping into their home equity.
Mass Bay Credit Union is your go-to financial institution for a Home Equity Line of Credit (HELOC). We are proud to have one of the best HELOC's around! We are happy to offer our Home Equity Line of Credit to our local communities in the Greater Boston Area. Whether you are looking to make home improvements, pay for tuition, or consolidate your debt, your options are nearly endless.
We make it easy to get access to your home equity. Mass Bay has an easy application process which can be started online. It's easy to take advantage of our great low home equity rates, to start accomplishing your home improvement goals, or so that it's there for the unexpected expenses of homeownership.
Additional HELOC Information can be obtained by calling our mortgage department directly, or at any of our 4 convenient locations:
Mass Bay Credit Union Membership is open to:
If you qualify as a Member, APPLY for a new HELOC today! Our team will help you with becoming a member of Mass Bay Credit Union.
|Interest Rate||APR+||Term||Payment Per $1,000**||Apply|
|Intro Rate 1.75% for 6 months then Prime minus 0.75%*||1.75% for first 6 months then 2.50%*||10 Year Draw/ 15 Year Repayment||
$2.08 (Interest Only Period)
+APR= Annual Percentage Rate.
*1.75% Annual Percentage Rate (APR) is an introductory rate for the first six months. After the introductory period, rate on the outstanding balances will revert to Prime Rate as published in the Wall Street Journal on the first day of the calendar month minus (-) 0.75%. Prime rate as of 04/01/2020 is 3.25%. The APR may vary monthly. Minimum rate 2.50% and maximum rate 18.00%. 10 year draw period. 15 year repayment period. Minimum $10,000 draw at closing and $1,000 advances thereafter. The maximum LTV is 80% up to $200,000. The maximum LTV is 70% for loans over $200,000 up to $300,000.
** Payment per thousand based on minimum rate after introductory period.
Our NMLS# is 615913 and our registered Mortgage Loan Officers are listed here.