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TRUE BLUE Flex EquitySM Account
The flexibility to tailor your home’s equity to suit your needs

Now it’s even easier to make home improvements, buy a new car or consolidate debt. The unique TRUE BLUE Flex Equity account gives you a revolving equity line of credit with the flexibility to create up to five separate loans within your equity line. You’ll be able to lock in a portion of your line as a fixed-rate loan, so you won’t have to worry about rising interest rates. Plus, as you pay back your loans, the principle amount automatically becomes available for you to use again on your line.

Here are some of the many benefits of this flexible home equity product:      View our rates

  • Easy application
  • Interest-only payment on the home equity line 1
  • Option to convert all or a portion of account balance into a fixed-rate loan within the line
  • Choice of fixed rate loan terms
  • No need to reapply to fix your rate
  • 24/7 online access through Eastern HomeConnect®
  • Consolidated monthly statement — manage your variable rate and fixed rate balances all in one place
  • Interest may be tax deductible 2

View an example of how you can put the flexibility of Eastern Flex Equity to work for you.

To get an idea of how much you may be able to borrow, use our Home Equity Worksheet to find out approximately how much equity you have in your home.

Before applying, we encourage you to carefully read the following important disclosures.

It's easy to apply. Use our online application, visit your local Eastern Bank office or call
1-800-EASTERN (1-800-327-8376).

1  The interest rate adjusts monthly based on the Wall Street Journal Prime Rate plus 0% for the life of the line. Maximum Annual Percentage Rate (APR) is 18%, minimum APR is 5%. As of July 1, 2008 the Prime Rate was 5.00% APR. Equity Lines are subject to $50 annual fee (waived for TRUE BLUE Select CheckingSM and TRUE BLUE Premier CheckingSM customers) and $350 early cancellation fee if line is closed or rewritten within two years of opening.  Available for owner-occupied residences only (1-4 family property or condominium). Loan to value limits apply. Property insurance is required. Flood insurance may be required. Homes currently on the market or planned for sale within a year are not eligible. Offer and rates subject to change without notice.

2  Consult your tax advisor about deductibility of interest.

   Equal Housing Lender | Member FDIC