Home Equity Line of Credit & Loan Rates

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.

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Featured APR Home Equity Line of Credit

7.240 %
Prime - 0.51%

Long-term Variable APR

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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%	8.740 %
$75,000 - $124,999	Prime Rate - 0.26%	7.490 %
$125,000 - $750,000	Prime Rate - 0.51%	7.240 %

Prime Rate is 7.75% as of November 12, 2024.

The Annual Percentage Rate (APR) quoted is the lowest rate available as of November 12, 2024. Subject to credit approval.

Advertised rates require monthly automatic repayment from a Rockland Trust checking account, a minimum initial draw of $25,000 and maintaining a daily minimum balance of $25,000 for the first 30 days after the draw period begins (disbursement date). Other loan programs for this type of credit are offered by Rockland Trust that do not include automatic repayment features.

As of November 12, 2024, the Prime Rate is 7.75%, resulting in a fully indexed APR of 7.240%. The APR of 7.240% is subject to change and may increase after consummation. The corresponding APR will never be less than 3.99% or more than 18.00% per annum.

Advertised rate available for lines of credit between $125,000 and $400,000 on 1 to 4 family owner occupied properties with a combined loan to value ratio (CLTV) of 75% or less, and for lines of credit greater than $400,000 and up to $750,000 with a combined loan to value ratio (CLTV) of 75% or less as determined by a valuation acceptable to the lender. Other home equity lines of credit outside of these parameters are available.

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.

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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.

HOME EQUITY FAQs

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!

MAKE AN APPOINTMENT AT ONE OF OUR BRANCHES

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

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Home Improvement Ideas That Pay Off

1. Calculator is for estimation purposes only. Actual loan amounts may vary based on borrower's unique circumstances.

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