★★★★★
“I recently did a loan at Mass Bay Credit Union. I would highly recommend them to anyone looking for great service and a great deal.”
David B., South Boston, MA
David B., South Boston, MA
It's almost tax time! It's also a great time to open an Individual Retirement Account at Mass Bay Credit Union. Call us at 617-269-2700 or visit any branch for more information and to open an account.
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Home Equity
Mass Bay Credit Union Home Equity Loans and Lines of Credit are excellent ways for homeowners to obtain funds needed for large projects, purchases or expenses. Because they are secured by the equity built up in the property, Home Equity Loans can be the least expensive way to pay for things members need. At Mass Bay Credit Union, we have all the Home Equity Financing options to choose from, at rates that let our members afford more!
Home Equity Line Of Credit
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.
Interest Rate |
APR+ |
Term |
Payment Per $1,000** |
|---|---|---|---|
| Intro Rate 3.49% for 6 months, then Prime minus 0.75%* | 3.49% for first 6 months, then 6.000%* | 10 Year Draw/ 15 Year Repayment |
$5.10 (Interest Only Period) $8.44 (Repayment Period) |
*3.49% Annual Percentage Rate (APR) is an introductory rate for the first six months. After the introductory period, rate on the outstanding balances may change daily to Prime Rate, as published in the Wall Street Journal, minus (-)0.75%. Prime rate as of 12/11/2025 is 6.75%. The APR may vary monthly. Minimum rate 3.75% 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.
** Payment per thousand based on current rate after introductory period.
Fixed Rate Home Equity Loans
A low fixed rate Home Equity Loan from Mass Bay Credit Union may be the right option for your home improvements, education costs, and large purchases. With flexible terms, 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 recurring payments each month.
| Points | Interest Rate | APR* | Payment Per $1,000** | |
|---|---|---|---|---|
| 5 Year Fixed Rate | 0 | 6.750% | 6.750% | $19.68 |
| 10 Year Fixed Rate | 0 | 6.750% | 6.750% | $11.48 |
| 15 Year Fixed Rate | 0 | 7.125% | 7.125% | $9.06 |
| 20 Year Fixed Rate | 0 | 7.250% | 7.250% | $7.90 |
*APR= Annual Percentage Rate.
**Payments do not include taxes & insurance, as result your payment may be greater. Your payment may be greater if the loan is secured by a first lien. Property insurance is required and Flood insurance may also be required.
Please contact Mass Bay Credit Union for your individual rate quote.
10 & Done - 10 Year Fixed Home Loan Rates
A smarter way to pay off your home faster. Our 10 & Done Loan offers a fixed rate and predictable payments over just 10 years. Build equity quicker and enjoy the freedom of owning your home sooner.
| Interest Rate | APR* | Term** | Payment Per $1,000** |
|---|---|---|---|
|
6.750% |
7.09% |
10 Years (120 months) |
$11.48 |
*APR= Annual Percentage Rate.
**Interest Rate and APR are as of October 3, 2023 and subject to change without notice. The APR is calculated based on a loan amount of $100,000 for a term of 10 years or 120 months. Payments are $11.48 per $1,000 borrowed. Owner occupied condos and single-family primary residences only. Payment doesn’t include taxes, insurance, or HOA fees. The actual payment obligation will be greater. Maximum loan amount is $300,000. The maximum LTV is 80% up to $200,000. The maximum LTV is 70% for loans over $200,000 up to $300,000. Loan must be in first lien position. Other terms and restrictions apply including a 620 minimum credit score. Proof of adequate property insurance required, and flood insurance may also be required. Subject to credit approval. $1,499 closing costs apply. NMLS ID #615913. Subject to membership eligibility, see our website for details
All loans are subject to membership eligibility. Current Rates - Effective March 12, 2026
Ready to put your Home Equity to work?
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