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Home Equity Line of Credit
HELOC Options to Fit Your Needs
At North Easton Savings Bank, we believe borrowing should fit your needs — not the other way around. That’s why we offer multiple Home Equity Line of Credit options, including special programs that may provide additional benefits for qualified borrowers.
Our experienced lenders can walk you through the available options and help you find the right solution for your situation.
Why choose a Home Equity Line of Credit (HELOC)?
A Home Equity Line of Credit (HELOC) lets you borrow against the equity you’ve built in your home. Instead of receiving a lump sum, you’re approved for a set credit limit and can draw funds as needed — similar to how a credit card works. You only repay the amount you use, giving you flexibility to access funds when you need them. Homeowners commonly use a HELOC for:
Home Improvements and Renovations
Consolidating Higher-Interest Debt
Education Expenses or Large Purchases
The Benefits of a HELOC
✔ No Application Fees or Closing Costs
Get access to funds without the upfront fees often associated with other loan options.
✔ Flexible Access to Funds
Borrow what you need, when you need it, up to your approved credit limit.
✔ Pay Only for What You Use
Unlike a traditional loan, you only pay interest on the amount you actually draw.
✔ Great for Ongoing Projects
Perfect for home renovations or other expenses that happen over time.
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Easy To Apply
We partner with Fintechs to be able to deliver the latest and greatest in financial platforms. For Home Equity Lines and Loans, we have an all new application portal that provides a mobile-first, instant decisioning experience.
DISCLOSURE
*Products are available for owner-occupied 1-4 family residential properties and 1-2 unit second homes. Annual percentage rate (APR) cannot exceed 18%. Minimum APR is 5.00%. Minimum line is $10,000 and maximum line is $500,000. Homeowners’ insurance is required and flood insurance may be required. First liens: If the Bank takes a first lien, payments will not include taxes and insurance, so your actual payment obligation will be greater. A non-refundable annual fee of $75.00 will be billed each year in the month following the yearly anniversary date. If the property is in trust, the Bank will charge you $250 for our Attorney’s review of your trust prior to closing, and you may be required to pay a recording fee at closing, generally between $106 and $108, to the Registry of Deeds for the recording of the Trustee Certificate. If the Bank requires a lien to be discharged as a condition of our commitment to grant the loan, you will need to obtain the discharge and pay a recording fee at closing, generally between $105 and $106 per item, to the Registry of Deeds to have the discharge recorded. There may be an electronic delivery fee of $4.75 per item in addition to the recording fee. If the Home Equity Line of Credit is closed and discharged within the first three years, you will be charged an early termination fee between $500 and $1,500. The early termination fee will be determined based on bona-fide third party fees, not to exceed 5% of the total line amount. Rates may increase after consummation on the variable rate products.
