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Home Equity Lines of Credit

It's time your home paid you back.

You've probably invested a lot of time improving your home. Now that its value has increased, you can borrow against it to address other expenses or projects. Our home equity line of credit is best if you need access to a revolving line of credit to meet your needs as they arise.  Now with a Fixed Rate Loan Conversion Option: convert a portion or all of outstanding line balances into a fixed term loan.

With our Home Equity Line of Credit, you'll get the funds you need at a competitive rate that makes your money go further. Our easy-to-use home equity calculator1 can help you determine what your home equity is. Rockland Trust has an easy application process for a home equity line of credit and we’re always happy to talk you through it.

Quick and easy application process APPLY ONLINE

Home Equity Line of Credit

Now with a Fixed Rate Loan Conversion Option

LOAN AMOUNT 
ANNUAL PERCENTAGE RATE
$25,000 - $74,999 Prime Rate + 0.99% 6.24%
$75,000 - $99,999 Prime Rate - 0.26% 4.99%
$100,000 - $750,000 Prime Rate -0.76% 4.49%
>$750,000 - $1,000,000 Prime Rate - 0.76% 4.49%
Prime Rate is 5.25% as of December 3, 2018.

The Annual Percentage Rate (APR) quoted is the lowest rate available as of December 3, 2018  Subject to credit approval.
 
Advertised rates require monthly automatic repayment from a Rockland Trust checking account. Other loan programs for this type of credit are offered by Rockland Trust that do not include automatic repayment features.  As of December 3, 2018 the Prime Rate is 5.25%, resulting in a fully indexed APR of 4.49%. APR is subject to change and may increase after consummation. The corresponding APR will never be less than 4.24% or more than 18.00% per annum.

Advertised rate available for lines of credit between $100,000 and $750,000 on 1 to 4 family owner occupied properties with a combined loan to value ratio (CLTV) of 80% or less as determined by an on-line statistical appraisal acceptable to the Lender. If the line amount exceeds $250,000 or an on-line value is not available, a certified property appraisal may be required. Other home equity lines of credit outside of these parameters are available.

For line amounts in excess of $750,000, two appraisal fees totaling $1200 will be required. If a full appraisal is required on line amounts of $750,000 or less, an appraisal fee up to $600 may apply. Hazard insurance is required. Flood insurance may be required. If you pay off the entire balance and close your line of credit account within 24 months of consummation, a $500 early termination fee may be charged. Other restrictions may apply.

Benefits of a Home Equity Line of Credit

  • NEW Fixed Rate Loan Conversion Option: convert a portion or
    all of outstanding line balances into a fixed term loan.
    • Terms up to 20 years.
    • Minimum conversion amount is $10,000.
    • Monthly payments of fixed principal and interest.
    • $50.00 Lock Fee will apply for each Fixed Rate Loan Conversion.

  • Access to a revolving line of credit with the flexibility to meet needs as they arise.
  • Variable Interest rate is based on the published Prime Rate and may change monthly.
  • Happens in variable monthly payments based on the amount outstanding and the current Prime Rate. As the line of credit is repaid, funds become available for reuse.
Man and his dog working on a home project

How to Start the Application Process


The application process is quick and easy, and we're always happy to talk you through it. You can either apply online or make an appointment to discuss your options with one of our experts!
Husband and wife looking at their financial options

Home Ownership and What It Means for You.


We've compiled helpful learning articles that may answer any questions you have before tapping into your home's equity for your next home improvement project.







Additional Resources

Helping you every step of the way

Home Equity Calculator¹

Need help determining what your home equity is? This easy-to-use calculator will show you the home equity line of credit amount that you may qualify to receive. The line of credit is based on the value of your hone, and the more your home is worth, the larger the line of credit.

What Is the Right Loan for You?

When you have a large, fixed expense you want to address, consider a Home Equity Loan that delivers a specific amount of money with a competitive, unchanging interest rate. Your home can hold the key to financing home projects, debt consolidation, education and medical costs, or any number of expenses.

Find a Branch Location Near You

We have over 80 branch locations in Massachusetts and Rhode Island with knowledgeable staff eager to answer the questions you may have about home equity loans. At Rockland Trust, each relationship matters and we’re excited to start a new one with you. Find the location nearest you with our branch locator page.

Home Improvement Ideas That Pay Off

 Wondering if your home improvement idea will pay off when it is time to sell your home? This article breaks down the top home improvement projects that provide the best return on investment. From making your home safer to more energy efficient, use your home equity line of credit for a project that adds value to your home. 
1. Calculator is for estimation purposes only. Actual loan amounts may vary based on borrower's unique circumstances.

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