Home Equity

Make your equity work for you. Need to update your kitchen? What about replacing that leaky roof? And isn’t it time you took that second honeymoon? Using the equity in your home allows you to do the things you need (or want) to do in a way that makes financial sense.

Home Equity Lines of Credit

• Variable rate based on the Wall Street Journal Prime rate
• A five-year draw period with a 10-year repayment plan
• Borrow up to 80% of the appraised value of your home (less any first mortgage liens)

These Rates Accurate as of

**Initial rate with discount is fixed for the first 12 months; thereafter, Annual Percentage Rate is variable monthly based on Wall Street Journal Prime. Prime as of 4/1/11 is 3.25%. Maximum APR is 18.00% and minimum APR is 3.00%. Maximum LTV of 80%, (75% for condos). Owner occupied 1-4 family primary residences in Essex County, MA. Minimum initial advance is $25,000. New lines up to $300,000. Early termination fee applies. Appraisal fee may be required. Additional terms and conditions apply. New Home Equity Lines of Credit only. Rates subject to change. SCU membership required by opening a Share Account with $25.00.

^† = Annual Percentage Rate. The rates quoted are subject to change without notice.

^‡Prime Rate is currently 3.250%

Home Equity Loans

• Fixed rate based on the length of time you borrow
• Flexible loan terms of 10, 15 and 20 years
• Borrow up to 80% of the appraised value of your home (less any first mortgage liens)

These Rates Accurate as of

^† = Annual Percentage Rate. The rates quoted are subject to change without notice.