Home Equity Options

Southern Mass Credit Union can help you turn your equity into funds for immediate use. Whether you’re looking to do some home improvements or consolidate debt, our Home Equity Programs are the perfect fit for your needs.

 

Home Equity Line of Credit

Use the equity in your home to finance a low rate loan and make home improvements.

  • Install energy efficient appliances.
  • Repair the roof.
  • Build a garage.
  • Renovate the kitchen.

The possibilities are endless. Get what you're looking for with affordable financing from Southern Mass Credit Union.

Introductory 12-Month Fixed Rate Home Equity Line of Credit*
No closing costs. No application fees.

Low fixed Introductory Rate
2.49% APR*
guaranteed for one year!

 

Home Equity Line of Credit*
No closing costs. No application fees.

  • 15, 10, and 5 Year Fixed Rate Terms Available
  • Available on 1-4 Unit purchase or refinance transactions with primary, second, and investment occupancy
  • Loan-to-value up to 95% available
  • Subject to credit Approval

Click here to view our current rates

Apply Now

 

Home Equity Loan**

A Home Equity Loan locks in a low rate for the life of the loan. Borrow a set dollar amount and repay a fixed monthly payment for easy planning.

  • 15, 10, and 5 Year Fixed Rate Terms Available
  • No closing costs or application fees
  • Available on 1-4 Unit purchase or refinance transactions with primary, second, and investment occupancy.
  • Subject to credit Approval

Click here to view our current rates

Apply Now

 

*APR is Annual Percentage Rate. Rate indicated requires automatic payment from a Southern Mass Credit Union Deposit Account. Introductory APR is for the first 12 months, thereafter APR will resort to Prime minus 0.50%. APR will vary monthly if the Prime Rate changes but will not exceed 18.00% or be less than 4.75%. Current Prime Rate available on the Wall Street Journal. Real Estate Taxes and Property insurance is required. Flood insurance where required by law. 1-4 family primary residence, second home, or investment occupancy. Loan-to-value of 80-95% require Southern Mass Credit Union in first position. Loan to Value 90-95% 1-unit owner occupied purchase only. Consult your tax advisor regarding the deductibility of interest. Other terms and conditions and restrictions apply. Subject to credit approval. The following fees apply: Application fee: $0.00 (due at application); Points 0.00% of credit limit (due when account is opened). Fees charged to the customer will apply under the following circumstances: Annual Maintenance Fee of $50.00; Early Termination Fee of $500 or 2.00% of the line, whichever is less, if the line is closed within 3 years from the note date; if the loan amount is greater than $250,000 and in first position, the Borrower will be required to pay for Title Insurance Policy, Municipal Lien Certificate, and Survey Deletion Letter. Third party fees for Power of Attorney, Revocable Trust, or other legal documents must be paid by the member. Fees generally total between $0.00 and $500.00. Term subject to change without notice.

**Real Estate Taxes and Property insurance is required. Flood insurance where required by law. Please contact Tax Advisor for possible tax deductions. Other terms and conditions and restrictions apply. Subject to credit approval.