Home Equity


Because they are secured by the equity built up in your home, Home Equity Loans can be the least expensive way to pay for things you need. At Mass Bay, we have all the Home Equity Financing options to choose from, at rates that let you afford more!


Home improvements, education costs, large purchases and more, when you know how much you need and you need it all at once, a low fixed rate Home Equity Loan from Mass Bay can be the right option for you. With flexible terms from 5 years to 20 years, our fixed rate loans let you know exactly how much you’ll need to repay every month so you can fit it comfortably into your budget. You can even use one of our convenient auto payment options to make payments from your paycheck or account automatically each month, so you’ll never even have to think about it – or missing a payment!


Vacations, furnishings, home repairs, miscellaneous education expenses and others, for those expenses that you know are on the horizon but aren’t necessarily sure when and for how much they will be, we are happy to offer our very flexible Home Equity Credit Line. Simply, you qualify for a specific amount and a length of term. Then you can draw as much of it as you like, whenever you like, to pay for expenses as they occur.

The competitive low rate is usually adjusted monthly based on the WSJ Prime Rate, but it does have a cap and a floor. Your minimum monthly payments are low, and you only ever pay interest on what you draw. There are also none of the annual or monthly fees that some other lenders charge that can really add up to high costs.

When it comes to borrowing money for a new home or using your home as collateral to finance another expense, you want to be sure that you are dealing with a lender you can trust. For more than 75 years, Mass Bay has been meeting Member loan needs in a fair and upfront manner, and that has made us one of the most trusted lenders around. For the best loan that fits your individual situation, just call us, stop by or apply now. We’re always here to help!


NMLS Registry Information for Mass Bay Credit Union & Mortgage Loan Originators