Home Equity Test
Home Equity Test

Home Equity Loans

Please note: Online applications are processed for MA property only. If applying for a Mortgage outside of MA, please call our Mortgage Advisors directly to discuss.
Meet the Team
Introduction

Months and years of timely mortgage payments...not only have they been paying down your house, they've been building up your collateral. At Clinton Savings Bank, we'll help you transition that hard-earned home equity into budget-friendly financing for a wide range of other needs. We offer both Home Equity Loans and Lines of Credit to address your specific needs — long- or short-term.

  • Competitive rates for a wide range of ongoing or long-term needs:
  • Major home improvements
  • Medical expenses
  • Education expenses
  • Weddings and other big life events
  • Debt consolidation
  • Cash cushion
  • The equity in your home is used as collateral to secure the loan
  • Reuse as needed without reapplying for separate installments
  • Funds conveniently available 24/7 via direct check writing
  • Up to 10 years to access your funds
  • No line balance requirements
  • Lines start at $5,000
  • The interest paid may be tax deductible*
  • Quick, local decision-making and processing
  • 100% Loan to Value option may be available
  • CSB's Home Equity Line of Credit now offers a fixed rate conversion feature(available on maximum 80% LTV products only)** perfect if you are looking to make a large purchase, remodel or would like the assurance of locking in a portion of your outstanding HELOC balance.
  • You may elect to convert an outstanding balance at any time during the draw period**
  • Up to 3 fixed rate conversions at any time during the draw period**
  • Minimum conversion amount of $5,000.00

*Consult a tax advisor.

**Maximum 80% LTV product. Home Equity Line of Credit Introductory Annual Percentage Rate (APR) of 1.99% good for first 6 months upon opening. Thereafter, the rate, including the rate on any existing account balance will convert to the applicable variable rate. Equity Lines of Credit are variable rates subject to increase after consummation, adjusting monthly to the Wall Street Journal (WSJ) Prime Rate minus .25% with a maximum APR rate of 18.00% with a floor of 4.00%. WSJ Prime Rate currently 5.00% as of 7/1/18. An early termination fee applies for equity lines of credit closed within 24 months of opening the line of credit. Maximum Loan to Value 80%. Appraisal may be required at applicants' expense. Offer applies to 1-4 family, owner-occupied primary residences only. Condominiums must be Fannie Mae approved. Not available for homes currently for sale or intended to be sold within 6 months of closing. Property homeowner's insurance is required. Fees for opening the account range from $0 to $880. A fixed rate conversion option is available. Borrowers may elect to convert an outstanding balance to a fixed rate at any time during the draw period (first 10 years of the term). There is a $50 fee for every conversion. Other restrictions may apply. All loans are subject to credit approval.


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Home Equity Loan

Home Equity Loan Details

  • Competitive rates for a wide range of short-term or one-time needs:
  • Home or auto repairs/remodel
  • Education expenses
  • Special projects
  • Family vacation
  • Debt consolidation
  • Cash cushion
  • The equity in your home is used as collateral to secure the loan
  • Loan amounts starting at $5,000
  • The interest paid may be tax deductible*
  • Quick, local decision-making and processing
  • Hands-on, customized service throughout the entire process

*Consult a tax advisor.