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PlatinumBlue Home Equity Line of Credit

1.99% APR* for first 12 months with a Belmont Savings checking account or 1.99% APR* for first 6 months without a Belmont Savings checking account. Then 2.99% (prime -.51%) thereafter.

Everyone’s financial journey is different. For many, a Home Equity Line of Credit (HELOC) provides one more vehicle to help you finance major life expenses. The equity in your home can be used to help you pay for college, renovate your home, consolidate debt, or purchase big ticket items.

The PlatinumBlue Home Equity Line of Credit offers:

  • 1.99% APR* for 12 months with a Belmont Savings checking account**
  • 1.99% APR* for 6 months without a Belmont Savings checking account**
  • No annual fee
  • No closing costs (certain fees may apply to properties held in a trust)*

Apply Online

 

How to apply

To apply for a HELOC, you can either apply online, visit a branch or send us a printed application.

Option 1) Apply for a HELOC Online Now

  1. Click here to access our online application
  2. Save your online application and come back later or submit your online application and expect to hear from a member of our team.

Option 2) Visit a branch

  1. Visit any branch location to work with us on your Home Equity Line of Credit application.

Option 3) Print HELOC Application

  1. Print HELOC application.
  2. Fill out the application.
  3. Submit the home equity application by following one of these convenient ways:
    • Send by fax to: 617-993-3819
    • Drop off at any of our branch locations
    • Send by mail to:

Belmont Savings Bank
Attn: Morgan Cambern
2 Leonard Street
Belmont, MA 02478

(NMLS ID #752977)

Belmont Savings Bank strives to make applying for a home equity line of credit easy for anyone. If you have any further questions, please complete the form below and someone will reach out to you shortly.

 

*Variable APR (Annual Percentage Rate) based on the Wall Street Journal Prime Rate published on the last business day of the month. 3.50% as of 11/30/16. Current Prime less 0.51% (2.99% APR). Rates are subject to change. Maximum APR 18.00%. Minimum $25,000 line amount and $25,000 minimum draw required. $300 early termination fee. A $300 processing fee applies if the minimum draw of $25,000 is not made at closing and does not stay outstanding for 90 days. Interest only payments for initial 10 yrs, with additional 15 yr payback of P&I. Maximum LTV 80%, rate and terms may vary based upon property type, property value, loan amount, loan to value ratio, credit history, lien position and income. Not available for homes currently for sale or intended to be sold. Subject to credit approval. 1-4 family, owner occupied residences, condominiums and 2nd / vacation, owner occupied properties qualify. Property insurance required. Flood insurance may be required. Consult a tax advisor for information regarding the deductibility of interest and charges. Trust review fees ranging from $100 to $300 apply for properties held in trust.

**PlatinumBlue Home Equity customers with a Belmont Savings checking account and automatic payment withdrawals from the Belmont Savings checking account will receive the 1.99% APR (Annual Percentage Rate) for the first 12 months following account set up. PlatinumBlue Home Equity customers without a Belmont Savings checking account and automatic withdrawals will receive the 1.99% APR for the first 6 months following account set up. After the initial rate period, a minimum APR of 2.99% will apply. This introductory rate offer is subject to change and is limited to one introductory offer per property address and per household and is not eligible for refinancing at the introductory rate.

 

Bank NMLS ID # 486283

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