Massachusetts Home Equity Line of Credit
January 17, 2021 Average Rate: 4.80%
Lender | APR (%)? | Min. Initial Draw Amount |
Learn More |
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![]() Eastern Bank Equal Housing Lender / NMLS ID: 451827 See Table |
2.750 %
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$25,000 | Learn More |
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![]() People's United Bank, N.A. Equal Housing Lender / NMLS ID: 464603 See Table |
4.000 %
|
$0 | Learn More |
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![]() Figure Home Equity Line Equal Housing Lender / NMLS ID: 1717824 See Table |
Fastest HELOC on the planet! Apply in 5 minutes & close in days | Learn More | |
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Chase Updated 2020-04-17 / NMLS ID: 399798 See Table |
5.000 %
|
$30,000 | |
Rockland Trust Updated 2021-01-17 / NMLS ID: 401447 See Table |
4.490 %
|
$0 | |
Bank of America Updated 2021-01-17 / NMLS ID: 399802 See Table |
5.820 %
|
$50,000 | |
Washington Trust Bank Updated 2021-01-17 / NMLS ID: 728368 See Table |
4.000 %
|
$0 | |
TD Bank Updated 2021-01-17 / NMLS ID: 399800 See Table |
4.540 %
|
$0 | |
Cambridge Savings Bank Updated 2021-01-17 / NMLS ID: 543370 See Table |
Intro APR 3.490 % After Intro: 4.000 % Intro Period: 12 months |
$0 | |
Metro Credit Union Updated 2020-12-21 / NMLS ID: 198524 See Table |
3.250 %
|
$0 | |
Eastern Bank Updated 2021-01-17 / NMLS ID: 451827 See Table |
2.750 %
|
$25,000 | |
HSBC Updated 2021-01-17 / NMLS ID: 399799 See Table |
Intro APR 1.740 % After Intro: 5.420 % Intro Period: 12 months |
$25,000 | |
USAlliance Financial Updated 2019-05-10 / NMLS ID: 562301 See Table |
5.500 %
|
$25,000 | |
DCU Updated 2021-01-17 / NMLS ID: 466914 See Table |
4.490 %
|
$0 | |
First Tech FCU Updated 2021-01-17 / NMLS ID: 732452 See Table |
3.250 %
|
$0 | |
Webster Bank Updated 2021-01-17 / NMLS ID: 455656 See Table |
Intro APR 1.490 % After Intro: 3.740 % Intro Period: 12 months |
$25,000 | |
Merrimack Valley FCU Updated 2019-05-03 / NMLS ID: 447563 See Table |
5.500 %
|
$0 | |
PeoplesBank Updated 2021-01-17 / NMLS ID: 644060 See Table |
Intro APR 1.990 % After Intro: 3.250 % Intro Period: 12 months |
$0 | |
Service Credit Union Updated 2021-01-17 / NMLS ID: 491588 See Table |
3.250 %
|
$0 | |
KeyBank - Syracuse Updated 2021-01-17 / NMLS ID: 399797 See Table |
6.150 %
|
$0 | |
Workers Credit Union Updated 2021-01-17 / NMLS ID: 472618 See Table |
2.990 %
|
$0 | |
Washington Trust Company Updated 2021-01-17 / NMLS ID: 414726 See Table |
Intro APR 2.400 % After Intro: 3.000 % Intro Period: 24 months |
$10,000 | |
Santander Bank Updated 2021-01-17 / NMLS ID: 494788 See Table |
4.250 %
|
$0 | |
Berkshire Bank Updated 2021-01-17 / NMLS ID: 506896 See Table |
3.750 %
|
$15,000 | |
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details. |
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Santander Bank, N.a. Updated 11/16/2020 See Table |
3.000 % | Varies | |
Pentagon Credit Union Updated 06/25/2020 Restrictions See Table |
3.750 % | Varies | |
Citibank, National Association Updated 11/21/2020 See Table |
3.990 % | Varies | |
Td Bank, National Association Updated 11/01/2020 See Table |
3.990 % | Varies | |
Cathay Bank Updated 04/01/2020 See Table |
4.250 % | Varies | |
Bank Of America, National Association Updated 08/17/2020 See Table |
4.700 % | Varies | |
Century Bank And Trust Company Updated 08/28/2019 See Table |
4.740 % | Varies | |
Cambridge Savings Bank Updated 08/29/2019 See Table |
4.750 % | Varies | |
Salem Five Cents Savings Bank Updated 08/29/2019 See Table |
4.750 % | Varies | |
Dedham Institution For Savings Updated 08/29/2019 See Table |
4.750 % | Varies | |
Berkshire Bank Updated 08/29/2019 See Table |
4.750 % | Varies | |
Needham Bank Updated 08/29/2019 See Table |
4.750 % | Varies | |
Eastern Bank Updated 08/29/2019 See Table |
4.750 % | Varies | |
Athol Savings Bank Updated 08/29/2019 See Table |
4.750 % | Varies | |
Middlesex Savings Bank Updated 08/29/2019 See Table |
4.750 % | Varies | |
Institution For Savings In Newburyport And Its Vicinity Updated 08/29/2019 See Table |
4.750 % | Varies | |
State Employees Cu Of Maryland, Inc Credit Union Updated 01/17/2020 Restrictions See Table |
4.750 % | Varies | |
Alliant Credit Union Updated 01/17/2020 Restrictions See Table |
4.750 % | Varies | |
Foxboro Federal Savings Updated 08/29/2019 See Table |
5.000 % | Varies | |
East Boston Savings Bank Updated 08/17/2020 See Table |
5.000 % | Varies | |
Data provided by BestCashCow |
APR (Annual Percentage Rate) is the rate that incorporates monthly compounding charges to express the a finance charges as an annual rate.
1 Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.
The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. Compensation is higher for Featured placements. This table does not include all companies or all available products.
Rates from this table are based on loan amount of $50,000 and a variety of factors including credit score and loan to value ratios. Rates may change at any time and are not guaranteed to be correct. For specific requirements please check with the lender.
Home Equity Line of Credit (HELOC) Rates
Home equity lines of credit (HELOCs) are loans secured against the equity in your home, They are typically less costly and more flexible than home equity loans. Since they are lines of credit, the borrower only draws the amount that they need and only pays interest on that amount. The amortization schedule ordinarily does not require payback of the principal drawn until year 10 (HELOCs are, therefore, technically “interest only” loans until that time).
HELOC lenders will lend up to 90% the value of the equity in your home and the typical HELOC line is from $200,000 up to $500,000.
How to Find the Best HELOC Rate
As you see in the table above, the pricing of a home equity line of credit varies from lender to lender. HELOC rates are based on the prime lending rate (“prime”) - the rate that commercial banks charge their most creditworthy customers. Most lenders add on a margin above the prime rate. The average HELOC rate is 4.80%.
Risk to HELOCs
HELOC rates fluctuate. Repayment terms are tied to the prime lending rate and that rate is likely to move up – perhaps dramatically - over the next few years as the Federal Reserve raises the Fed Funds rate. A 10-year home equity loan or a 15-year home equity loan, however, may be a safer option at this time. Depending on your personal circumstances, you should also consider mortgage refinance options.