Put your home's equity to work for you with a home equity line or loan from First Ipswich Bank. Used sensibly, leveraging the equity in your home can be a smart borrowing option and an extra source of credit to help you better manage and organize your financial life. You can apply online, or at one of our branch offices.
Not sure which of our home equity options is right for you? Compare the features and benefits below.
Curious how much you may qualify for? Try our Home Equity Calculator.
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.
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.
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.