Home Equity Credit Rates

Home Equity Lines of Credit

  • Low, variable rates
  • 20 year draw period followed by a 20 year repayment period

Rates effective September 1, 2020

LINE
AMOUNT
INDEX MARGIN ANNUAL
PERCENTAGE
RATE (APR)
$25,000 to
$749,999
WSJ
Prime
+0.24% 3.49%
$750,000 to
$1,499,999
WSJ
Prime
+.49% 3.74%

 

Click this image to apply online

Or visit your nearest Brookline Bank location. For more information, call 877-668-2265.

 

Fixed-Rate Home Equity Loans

  • 5 and 10 years terms
  • $15,000 minimum loan amount 

Rates effective September 1, 2020

  BORROWED
AMOUNT
ANNUAL
PERCENTAGE
RATE (APR)
TERM IN
MONTHS
PAYMENT
PER
$1,000
5-Year
Fixed
$50,000
and over
4.54% 60 $18.66
5-Year
Fixed
$15,000 to
$49,999
4.54% 60 $18.66
10-Year
Fixed
$50,000
and over
5.54% 120 $10.87
10-Year
Fixed
$15,000 to
$49,999
5.54% 120 $10.87

 

Click this image to apply online

Or visit your nearest Brookline Bank location. For more information, call 877-668-2265.

 

Disclosures for Home Equity Loans and Lines of Credit

Rates shown are for 1-4 family, owner occupied residences located in our lending market within MA. Maximum loan-to-value (LTV) of 80% of appraised value. Property insurance required. Accounts subject to individual approval. No closing costs except for cooperatives and properties held in a trust. Other terms, conditions, rates and restrictions may apply.

Offers subject to change without notice. See a personal banker for details.

Home Equity Line of Credit

Our Home Equity Lines of Credit have a 20 year draw period followed by a 20 year repayment period for owner occupied properties. No closing costs except for cooperatives and properties held in a trust. $40 Annual Fee is waived for the first year. Early termination fee of $250 or 2% of the HELOC's credit limit, whichever is less applies if Line terminates within 12 months of closing. The Annual Percentage Rate (APR) varies daily, is based on the Prime Rate as listed in the Wall Street Journal (Prime) plus a margin, and will also depend on the amount of the home equity line of credit that we approve. However, the APR will not be less than 3.00% APR or more than 18% APR. As of 9/1/2020 the Prime Rate is 3.25% APR. Minimum Line of Credit is $25,000. For home equity lines of credit of $25,000 to $749,999, the APR will be Prime plus .24%, currently 3.49% APR. For lines of $750,000 to $1,499,999, the APR will be Prime plus .49%, currently 3.74% APR. APRs reflect a .25% auto-pay discount from a Brookline Bank checking account. Other rates, terms, conditions and restrictions apply. Offer subject to change without notice. Credit approval required. 

Fixed-Rate Home Equity Loan

If your loan is a first lien loan, the payment examples do not include taxes or insurance and therefore your payments may be greater. Prepayment penalty fee of $250 or 2% of the Loan's outstanding balance, whichever is less, applies if Loan terminates within 12 months of closing.