Eastern FlexEquity® Account

Make home sweet home even sweeter with $200 when you qualify1.

Apply today for our home equity line. You could save hundreds with no appraisal fee for a limited time3. Rates as low as 2.75%2.

Apply Now Or give us a call at 1 (800) EASTERN

A home equity line of credit (HELOC) from Eastern Bank – the Eastern FlexEquity® Account – provides a low-interest rate and flexible options that make it easier to get started on your home improvement project.

Manage your home equity line the way you want with interest-only payments or fixed monthly payment options. We provide the flexibility to make borrowing easier for you.

And with an Eastern Premier Checking Account or an Eastern Select Checking Account, the $50 annual participation fee for your Eastern FlexEquity® Account is waived4.

At Eastern Bank, we do good things to help people prosper. Whether you’re planning to renovate your bathroom, overhaul your kitchen or are ready to tackle a much larger home renovation project, Eastern Bank is here to help.

See how much you can borrow with the home equity line of credit calculator and calculate your payments with the loan calculators below.

Variable Rate

Variable Rate as low as 2.75% APR2

PRIME minus 0.50% APR             

Minimum draw of $25,000

Fixed Rate

Fixed-Rate Option  4.50% APR5

Based on 15-year fixed rate

Minimum draw of $70,000

A smart, flexible way to borrow.

Borrow with peace of mind. Get a low rate and flexible borrowing options with the Eastern FlexEquity® Account.

See How Much You Can Borrow

Quickly and easily calculate the maximum amount you're eligible to borrow. Results are based on an 80% loan-to-value ratio, but you can always borrow less.

Estimated Home Value
Total Amount Owed

Note: Total amount owed includes both your mortgage and any additional home loans.

Estimated Loan Amount

Sorry you do not have enough equity in your home.

Calculate Your Payments

If you're looking for a fixed rate, we can show you what your monthly payment may be.5 If you'd rather go with a variable rate, we can show you the total amount of interest you'll owe.2 This information is for illustrative purposes only.

Rate Type
Desired Loan Amount
Note: You cannot borrow less than $10,000.
Auto deduct is required, please see the more about rates section for details.
Loan Period (in years)
5 yrs
10 yrs
15 yrs
20 yrs
Payment & Rate
Fixed % Rates will vary based on loan amount and loan period.
Monthly Payment $/mo These estimates do not include insurance or property taxes.3


Apply Now     Or give us a call at 1 (800) EASTERN



See The Benefits

An Eastern FlexEquity® Account offers these benefits, including:

  • The flexibility to convert your line into five separate loans, giving you the predictability of fixed rates and fixed monthly payments. View an example of how to put FlexEquity to work for you.
  • The ability to borrow as often as you like as you pay back your line. There’s no need to reapply.
  • Interest-only payment options on the home equity line for easier budgeting.
  • An easy application process.
  • A choice of fixed-rate loan terms when you lock in your line.
  • Convenient online access through Eastern Online Banking.
  • Potential tax savings.^
  • Consolidated monthly statements. 
  • As the fixed loan principal is paid back, the line builds back up and is available for other uses.


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

Important Facts About Our Home Equity Lines

What You Should know About Home Equity Lines of Credit

^Consult your tax advisor about deductibility of interest.


Ways to Apply


1. To receive the $200 cash incentive, you must qualify for the rate of Prime minus 0.50% Annual Percentage Rate (APR), your equity line application must be submitted between 3/14/2020 and 5/4/2020, it must close by 7/3/2020, you must draw a minimum of $25,000 at closing, and you must establish automatic payments from an Eastern Bank checking account. This offer applies to new customers only. New customers are classified as not having an existing Eastern FlexEquity® Account as of 1/1/2018. Incentives for qualified accounts will be deposited into the customer’s Eastern Bank checking account by 7/31/2020 if the account is open and has a positive balance. One incentive per household. Customers will receive a 1099 form for this incentive. Please consult your tax advisor regarding the tax implications of this offer. Other qualifications and restrictions may apply. Offer is subject to change at any time without notice.

2. The Annual Percentage Rate (APR) is variable and based on the Prime Rate (Prime) published in the Wall Street Journal (3.25% APR on 4/1/2020) minus 0.50% adjusted after each billing cycle. Minimum APR is 2.75%. Maximum APR is 18%. Minimum line amount is $10,000 and maximum line amount is $2,500,000. Line must be for first or second lien, secured by your 1-4 family primary or secondary residence located in MA, NH, RI and CT. Combined loan to value limits apply. Property insurance is required. Flood insurance may be required. Homes currently on the market are not eligible. Subject to credit application and approval. Rates are subject to change without notice. Speak with a representative or call 1-800-EASTERN (327-8376) for more information or to apply.

3. For a limited time, Eastern Bank will pay for appraisal fees when required by the Bank. To qualify for a free appraisal, you must submit your application between 3/14/2020 and 5/4/2020. Appraisal fees range from $490 for single-family homes to $620 for multifamily properties. Properties with unique characteristics or location may have higher appraisal and/or other fees. Title Search is paid by Eastern Bank as-is Title Insurance unless the amount borrowed is greater than $750,000 then customer may incur a Title Insurance fee of $2.50 per thousand. In addition, certain fees could apply depending on your situation. For instance, customer is responsible for trust and power of attorney review ($100 each) and recording fees for power of attorney and for properties held in trust ($105-$123). An itemized list of fees is available upon request.

4. FlexEquity lines are subject to a $50 annual participation fee (waived for Premier or Select Checking account customers). A $350 early cancellation fee applies if the line is closed or rewritten within the first 24 months.

5. The rate of 4.50% for 15 years requires a minimum loan amount of $70,000 and 180 payments of $535.49 as of 4/1/2020. This payment does not include property taxes or insurance which may cause your payment to be higher. Lower borrowing limits are available but other rates and terms may apply.

© 2020 Eastern Bank, N.A. Member FDIC. Equal Housing Lender. Nationwide Mortgage Licensing System & Registry. NMLS ID: 451827.