Eastern FlexEquity® Home Equity Line of Credit (HELOC)
1The Annual Percentage Rate (APR) is variable and based on the Prime Rate (Prime) published in the Wall Street Journal (7.50% APR on 4/1/2025) minus 0.51% APR adjusted after each billing cycle. To qualify for the lowest rate an application must be submitted between April 1, 2025 and April 30, 2025 and a minimum draw of $25,000 is required at closing with automatic payments from an Eastern Checking Account. This offer is not available to customers having an existing FlexEquity account [as of April 1, 2025] that was opened after February 1, 2023. Minimum APR is 3.99%. Maximum APR is 18%. Minimum line amount is $10,000 and maximum line amount is $2,000,000. 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. Investment properties are not eligible to be used to secure the line. Combined loan to value limits apply. Property insurance is required. Flood insurance may be required. Properties on the market or planned for sale within one year 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.
2For a limited time, Eastern Bank will pay for appraisal fees when the appraisal is required by the Bank. To qualify for a free appraisal, you must submit your application between 4/1/2025 and 4/30/2025. Appraisal fees range from $490 for single family homes to $610 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 will incur a title Insurance fee, the fee varies by loan amount and state (CT, MA, NH & RI). In addition, certain fees could apply depending on your situation. For instance, the 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. A $350 early cancellation fee applies if the line is closed or rewritten within the first 24 months. FlexEquity lines are subject to a $50 annual participation fee (waived for Premier, Private Bank or Select Checking account customers).
A smart, flexible way to borrow.
An Eastern FlexEquity home equity line of credit (HELOC) is perfect for home improvement projects and remodels, consolidating high-interest debt, major purchases and more.
If an Eastern FlexEquity Account is the right option for you, our team will guide you through it step by step.
It's easy to apply online in minutes!
Why choose an Eastern FlexEquity HELOC?
- Maintain a rotating line of credit that builds back up and is available for other uses as the principal balance is repaid. No need to reapply!
- Interest-only payment options for easier budgeting.
- Flexibility to convert up to 100% of your variable-rate HELOC into up to five fixed-rate loans to enjoy the peace of mind that comes with consistent monthly loan payments.
Calculator is for information purposes only and may not reflect current rates.
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