Home Equity Credit

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Not sure which of our home equity options is right for you? Compare the features and benefits below.

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Home Equity Lines of Credit

Use the equity in your home to withdraw funds only when you need to use them and secure a variable rate home equity line. View current rates and terms.

  • 12-Month fixed introductory rate: 3.49% APR*
  • Rate after initial 12-months is a variable rate as low as Prime minus .51% APR*
  • Extra long draw period - 35 years*
  • No application fees, points or closing costs*
  • Interest may be tax deductible (please consult your tax advisor)

Home Equity Loans

Use the equity in your home to receive one lump sum and secure a fixed rate and fixed monthly payment. View current rates and terms.

  • 5-year and 10-year terms, fully amortizing
  • No application fees, points or closing costs*
  • Interest may be tax deductible (please consult your tax advisor)

Talk to an Expert

Request a call to discuss your home equity options or to start an application.

First Ipswich Bank NMLS ID #797018.

*35 year draw period followed by a 15 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 applies if Line terminates within 12 months of closing. The Annual Percentage Rate (APR) of 3.49% is a promotional rate that will be in effect for the first twelve billing cycles following closing. After the initial 12 month period, the APR varies daily and will be based on the Prime Rate as listed in the Wall Street Journal (Prime) minus a margin and will also depend on the amount of the home equity line of credit that we approve. However, upon expiration of the promotional rate, the APR will not be less than 3.00% APR or more than 18% APR. As of 10/31/19 the Prime Rate is 4.75%. Minimum Line of Credit is $25,000. For home equity lines of credit of $25,000 to $749,999, the APR will be Prime minus .51%, currently 4.24% APR. For lines of $750,000 to $1,499,999, the ongoing APR will be Prime minus .26%, currently 4.49% APR. APRs after the initial 12 month introductory rate period reflect a .25% auto-pay discount from a First Ipswich Bank checking account. Other rates, terms, conditions and restrictions apply. Offer subject to change without notice. Credit approval required. Speak with a banker for investment property rates and terms.