Home Equity Loans

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*For the first two years the Annual Percentage Rate (APR) is fixed. At the end of the two year period the APR is variable and adjusted monthly based on the Prime Rate as published in the Wall Street Journal, which is 3.25% as of 7/1/2011. Minimum APR is 3.99% with a maximum APR of 18.00%. Rate quoted is for owner occupied property, 1-4 family residences and for owner occupied residential condominiums located in Massachusetts only. Minimum loan is $10,000. Maximum loan amount is 80% loan-to-value (LTV) of appraised value less existing 1st mortgage balance. Interest rates and APRs effective 11/20/2014 are subject to change without notice. Homeowners insurance and flood insurance (if applicable) are required. No closing costs. There will be a charge for an appraisal and discharge if required. Consult a tax advisor regarding deductibility of interest. A Termination Fee of $500.00 will be charged if the customer formally closes out the Home Equity Line within 36 months of the original agreement. This offer may be withdrawn at any time. All loan applications are subject to credit underwriting and property approval. Other terms and conditions may apply.

With a North Brookfield Savings Bank Home Equity Loan or Home Equity Line of Credit, you can tap into the equity you have in your home and save money with a rate that is traditionally lower than consumer loans. Plus, the interest you pay may be tax deductible (please, consult your tax advisor).

Fixed Rate Equity Loan

  • Access equity in your home without refinancing or paying closing costs or annual fees
  • Security of a fixed rate and payment
  • Borrow for any purpose


Adjustable Rate Line of Credit

With our Adjustable Rate Line of Credit you’ll enjoy the flexibility and freedom to “write your own loan” whenever you need it, just by writing a check.

  • Access the available equity you have in your home to make home improvements, pay tuition, buy a car or consolidate debt
  • Borrow as much or as little as you need, when you need it, up to a credit limit established at closing
  • As you repay your outstanding balance, the amount of available credit is replenished

With both products, you may be able to borrow up to 80%* of your home value (less the outstanding balance of your first mortgage and any other liens).


Other Advantages

  • No need to refinance first mortgage
  • Monthly detailed statements (Line of Credit)
  • Prompt approval
  • Competitive Rates

Plus, we’ve made it even more convenient for you to apply. You can apply online, call us at 508-867-1302 (Toll Free: 866-711-6272), or stop by any of our convenient locations. We’ll get back to you right away with the answer you need.

*80% of appraised value; 70% of assessed value.