Before submitting an application for credit to the Home Equity Department for any one of our home-secured products, it is important that you carefully review the below information. After reading, should you have any questions, please contact the Home Equity Department at (508) 946-8788 prior to submitting your application.
If you do not meet either of the Investment Property HELOC ownership requirements listed above, please reach out to your local branch for a referral to our Business Banking or Commercial Lending team to discuss financing options.
A borrower paid appraisal fee is required. The fee will be disclosed to the applicant/borrower prior to appraisal order.
CREDIT FREEZE: Once you submit your online application, a credit report will automatically be obtained from TransUnion. If TransUnion informs us that your credit is “Frozen”, meaning that you have voluntarily placed a “credit freeze” (also known as a “security freeze”) on your credit profile, we cannot advance your application without you removing the credit freeze. The best way to insure a timely decision of your application is to remove the credit freeze prior to submitting an application to us. You can have the credit freeze removed by contacting TransUnion directly at (888) 909-8872 or by visiting their “Credit Freeze” webpage at https://www.transunion.com/credit-freeze.
A person that reserves a Life Estate in the collateral property has the right to use and occupy the property for the duration of their lifetime.
***Deed restricted properties are not eligible for any of the Home Equity credit products listed above.
***Please reach out to your local branch for a referral to our residential mortgage team to determine whether residential mortgage loan financing options are available for your specific property.
