Equity Rates


Effective as of June 01, 2015

Home Equity Line of Credit

Type of Home Equity line of credit Interest Rate Max Term/Months CAPS Annual Percentage Rate Payment per $10k
PlatinumBlue1 1.99% 12 mo. 2.74% afterwards 300 Minimum APR 2.74% afterwards Maximum APR 18.00% 1.99% 12 mo. 2.74% afterwards Variable

Equity Loans2

Equity Loans Interest Rate/Fully Indexed Rate Max Term/Months CAPS Annual Percentage Rate Payment per $10k
10 Year Fixed 6.75% 120 N/A 6.82% $114.82
 15 Year Fixed 7.75% 180 N/A 7.80% $94.13

Home Equity Fees & Charges

  1. No closing costs or annual fees for PlatinumBlue HELOC. $25,000 minimum draw required at closing. $300 early termination fee. $300 processing fee imposed if the minimum draw of $25,000 is not made at closing and does not stay outstanding for 90 days.
  2. Fees/closing costs applicable for Home Equity Loans. Closing costs could range from $500 – $1,500.
    Interest may be tax deductible. Please consult a tax advisor.

*Home Equity Lending Requirements

  • 1-4 Family Owner Occupied Residences
  • Rates subject to change without notice
  • Equity product payments are based on a monthly repayment schedule
  • Any borrower obtaining a loan secured by real estate must provide the Bank with satisfactory proof of hazard/homeowner’s insurance
  • Subject to credit approval

Primary Home Equity Lending Area

Belmont Savings Bank primarily lends within all cities and towns in Essex, Middlesex and Norfolk Counties in Massachusetts. Belmont Savings also offer mortgages to Allston and Brighton, Massachusetts.

 

Bank NMLS# 486283

Belmont Savings Bank
2 Leonard Street

(Belmont Center)
Belmont MA 02478
617-484-6700
Belmont Savings Bank
277 Trapelo Road

Belmont MA 02478
617-489-6722
Belmont Savings Bank
53 Mount Auburn Street

(Watertown Square)
Watertown MA 02472
617-926-1325
Belmont Savings Bank
1070 Lexington Street

(Inside Star Market)
Waltham MA 02451
781-899-1801
Belmont Savings Bank
699 Mount Auburn Street

(Inside Star Market)
Cambridge MA 02138
617-993-3750
Belmont Savings Bank
33 Austin Street

(Inside Shaw's)
Newton MA 02460
617-993-3770
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2 Leonard Street, Belmont, MA 02478, 617-484-6700

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