Home Equity

Looking for a smart, easy, and flexible way to finance home improvements, pay for college expenses, consolidate debt, or afford virtually any other life expense?

Stoughton Co-Operative Bank has two smart home equity solutions to help you meet your goals. Both offer great rates, easy access to funds, and the flexibility to borrow and pay back funds on your terms.

 Better Home Equity 1Equity Reserve 2
Ideal if you wantThe convenience of a home equity line
with the ability to convert portions of
your line — up to five in total —
to fixed-rate loans.
A home equity line that offers a low,
introductory interest rate and a
discounted rate thereafter to
help you save more.
Key FeaturesFlexibility to covert portions of your line
— you can even choose the term of each
loan to make budgeting easier.

Maximum LTV is 80%
Significantly discounted rate after the
introductory period.

Maximum LTV is 70%
How to AccessAccessible via check with a minimum
check amount of $500.
Introductory Rate2.99% APR*
for the first 12 months
2.49% APR*
for the first 9 months.
5.00% APR*
currently
Variable Rate based on
Prime minus .50% APR
4.50% APR*
currently
Variable Rate based on
Prime minus 1.00% APR
Min/Max APRs
Minimum APR of 3.00%
Maximum APR 18.00%.
Fees
$50 annual fee (or $25 with autopay from a Stoughton Co-Operative Bank account). $500 early termination fee.
Draw Period
(Amount of time you can use the line)
10 years
Repayment Information
Interest plus .50% principal payments
for initial 10-year draw period, with
additional 10-year payback of principal
& interest.
Interest-only payments for the initial
10-year draw period, with additional
10-year payback of principal & interest.
Fixed portions will be subject to fixed
payments of principal & interest for
the selected terms.
*Variable APR (Annual Percentage Rate) based on the Wall Street Journal Prime Rate published on the last business day of the month; 5.500% as of 4/30/2019. Rates are subject to change and may increase after consummation. 1-4 family, owner-occupied residences, condominiums and 2nd/vacation properties qualify. Rate and terms may vary based upon property type, property value, loan amount, loan to value ratio, credit history, lien position and income. Not available for homes currently for sale or intended to be sold. Property insurance required. Flood insurance may be required. Consult a tax advisor for information regarding the deductibility of interest and charges. All loans subject to credit & underwriting approval. Certain fees & restrictions may apply. 1- Introductory 2.99% APR in effect for the first 12 months following account set up; afterwards the APR will be based on Prime less .50%. 2-Introductory 2.49% APR in effect for the first 9 months following account set up; afterwards the APR will be based on Prime less 1.00%.

Borrow the way you want — at Stoughton Co-Operative Bank

Apply Now

To learn more about the Home Equity solution that’s right for you, visit one of our branches, or call us at 781.344.3080.

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