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Home Equity Rates

For each of its home equity products below, Bay State Savings Bank will pay your closing costs excluding the cost of the appraisal if the subject property is a 2-4 family residence or if your loan amount exceeds $400,000, excluding any discharge fees, condominium related fees, or trustee related fees as they may be applicable to your loan.

  • To qualify for advertised rate, automatic payments from a Bay State Savings Bank checking account are required. If these qualifications are not met, margin will change to 0.25%, thus, the rate would be Prime Rate (published in the Wall Street Journal), minus the margin of 0.25%.
  • Variable rate of Wall Street Journal Prime Rate minus 0.55% for the life of the loan (7.95% APR current as of Saturday, Apr 20, 2024)
  • 20 Year Term (10 year draw with interest-only payments followed by 10 year repayment period)
  • $10,000 minimum initial draw required ($25,000.00 minimum line amount, $500,000 maximum line amount)
  • $99.00 Annual Fee
  • Up to 80% loan-to-value (CLTV) ratio
  • Eligibility restricted to owner-occupied and second homes in MA or NH only
  • Property insurance required
  • For more information, please see Option 1 in our Important Terms Disclosure

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  • Variable rate of Wall Street Journal Prime Rate minus 0.25% for the life of the loan (8.25% APR current as of Thursday, Jan 11, 2024)
  • 20 Year Term (10 year draw with interest-only payments followed by 10 year repayment period)
  • $10,000 minimum initial draw required ($25,000.00 minimum line amount, $500,000 maximum line amount)
  • $99.00 Annual fee
  • Up to 80% loan-to-value (CLTV) ratio
  • Eligibility restricted to owner-occupied and second homes in MA or NH only
  • Property insurance required
  • For more information, please see Option 2 in our Important Terms Disclosure (replace with new one)
  • Fixed rate of 8.25% APR for the life of the loan (APR current as of Saturday, Apr 20, 2024)
  • 20 Year Term (10 year draw with interest-only payments followed by 10 year repayment period
  • Up to 80% combined loan-to-value (CLTV) ratio
  • $10,000 minimum initial draw required ($25,000 minimum line amount, $500,000 maximum line amount)
  • $99.00 Annual Fee
  • Eligibility restricted to owner-occupied and second homes in MA or NH only
  • Property insurance required
  • For more information, please see Option 3 in our Important Terms Disclosure

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  • For term of 5 Years (60 Months): 7.00% Fixed APR
  • For term of 10 Years (120 Months): 7.25% Fixed APR
  • For term of 15 Years (180 Months): 7.50% Fixed APR
  • For term of 20 Years (240 Months): 7.99% Fixed APR
  • $25,000 minimum line amount, $500,000 maximum line amount
  • Up to 80% combined loan-to-value (CLTV) ratio
  • Eligibility restricted to owner-occupied and second homes in MA or NH only
  • Property insurance required

Apply Online

1Payment amount on a $25,000 loan for 60 months at 7.00% Annual Percentage Rate (APR) is $495.02.  Payment amount on a $25,000 loan for 120 months at 7.25% APR is $293.50. Payment amount on a $25,000 loan for 180 months at 7.50% APR is $231.75. Payment amount on a $25,000 loan for 240 months at 7.99% APR is $208.95. Payment amounts do not include taxes or insurance. Minimum loan amount is $25,000.00. Maximum loan amount is $500,000.00. Property must be 1-4 family owner-occupied in MA or NH only. Property insurance is required.

All loans are subject to credit approval. Payments are due monthly. Other restrictions may apply. All offers subject to change without notice. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).