Get 1 Co-op Point for every $1 of interest paid. Use points to lower the interest rate of a Fixed Home Equity Loan by up to .5%

No matter what your needs are, UMassFive has a Home Equity product to fit you. Whether you want a variable line of credit or fixed rate loan, if you have a lot of equity or little equity in your home, we have a program for you. Interest is generally tax deductible and rates are lower than traditional loans. Put the equity in your home to work for you. Some of the benefits of all of our Home Equity products are:

• No Annual Fee
  
• No Application Fee
  
• Closing costs paid by the Credit Union
  

We offer the following Home Equity products for your primary or second home in Massachusetts.

Variable Rate Home Equity Lines of Credit

• Borrow up to 90% of your Home's Equity
• Rate set at 1/4 point below prime*
• Maximum lifetime rate cap of 18.00%
• Credit lines ranging from $15,000 up to $250,000.00^†
• Payment includes interest and principle monthly
• Advances can be made by phone or through online banking
• You can also use HELOC checks

  *The rate is adjusted monthly according to the Prime Rate as published in the Wall Street Journal on the last Thursday of each month
  †Loans over 80% Loan-to-Value are restricted to a $100,000.00 maximum.

Interest Only Home Equity Lines of Credit:

• All the features of our Home Equity Line with a significantly lower payment
• Pay only interest during your 10 year draw period
• Borrow $25,000 for just $115 a month

Fixed Rate Home Equity Loan:

• Borrow up to 100% of your Home's Equity
• Loans ranging from $5,000 up to $250,000.00^†
• Terms available for 5, 10, 15 or 20 years
• Fixed monthly payment
• Fixed Home Equity rates are tiered by term and available equity

†Loans over 80% Loan-to-Value are restricted to a $100,000.00 maximum.

For questions or assistance, please contact a Representative or email us today!