Text Size

Home Equity Lines

If you need to finance a major purchase such as a new car, home repair, or unexpected expenses, using the equity in your home could be an alternative to using other higher-interest rate financing options. For more information or to apply, visit your branch or call 800-657-3272.
 
  • Available to 1-4 family owner occupied properties in Eastern Massachusetts.
  • Loan amount may vary, depending on credit scores, loan to value (LTV), combined loan to value (CLTV) and income.
  • Loan limits; $10,000 to $500,000.
  • The interest you pay on this loan may be tax deductible. Consult your tax advisor.
  • Reduce rate by 0.25% (applies to new HELOC's only) with auto-payment from an EBSB Personal Checking Account.*
* If your monthly payment is automatically debited from an East Boston Savings Bank Personal Checking Account, you will receive a 0.25% rate reduction. East Boston Savings Bank Personal Checking Account with auto-payment must be established prior to closing. If you fail to maintain your East Boston Savings Bank Personal Checking Account and the auto-payment, the rate reduction will be terminated. Available for Owner Occupied Properties only.

HELOC Program Fees

  • $50 annual fee
  • $500 early termination fee for lines closed within the first 24 months
  • Closing costs may apply and range between $300 and $3,000
  • Additional fee may apply if the loan will be a first lien
  • If property is held in a Trust or there are outstanding discharges, borrower will pay additional recording fees

For more information or to apply, visit your local branch office or call 800-657-3272.