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Home Equity

Home Equity Lines of Credit and Home Equity Loans

Draw out the equity in your home to pay for home improvements and repairs, vacation home, college tuition, debt consolidation, and just about anything else you need to finance. Choose between a line of credit or lump sum
payout.

Give your budget some breathing room with this revolving loan. Only pay
interest on the funds you use. As you repay the line of credit, the principal
becomes available again. Even if you don’t use it, there’s security in knowing
it’s there.

Find Out More About Our
Home Equity Line of Credit


5.50% APR*
Fixed for the first 12 Months

7.50% APR*
Prime Rate after the first 12 Months



Draw out the equity in your home in the form of a loan. Your payments are fixed and for a specific period, so you know exactly what to expect. We offer flexible terms depending on your unique situation.

Utilize the equity available in your home to finance certain items, including:
  • Home improvements or home repairs
  • Refinance options
  • Vacation home
  • College tuition
  • Debt consolidation


Want to learn more about taking advantage of your home's equity?


Or call us at  (978) 372-7731


Home Equity Line of Credit (Interest Only)^

  • The line of credit is a revolving loan, and as such, the principal automatically becomes available again as you repay it
  • You can access your funds by logging in to Online Banking. When an Advance is made in Online Banking the funds are available immediately!
  • Billed monthly for interest only
NOTE: An early termination fee may apply if paid and closed within the first twenty-four months. 

Fixed Rate Home Equity Loan^

  • You borrow a certain amount for a specific period of time
  • Your payments are fixed so you have the stability of knowing what your monthly payment will be
  • Flexible terms



*Pentucket Bank’s Home Equity Line of Credit Annual Percentage Rate (APR) is 7.50%. The APR is a variable rate based on the Prime Rate as published in the money section of the Wall Street Journal on the last business day of the month, plus 0%. Thereafter, the APR will be 7.50% or the Prime Rate as published in the money section of the Wall Street Journal on the last business day of the month, plus 0%. Prime Rate is as of 12/14/2022. Minimum loan amount is $10,000/maximum loan amount is $250,000. Existing HELOC customers must obtain an additional $10,000 new money, promotional rate available once every twelve months, one loan per customer. Combined loan to value not to exceed 80%. 1-4 Family Owner Occupied primary residence only, property insurance required; flood insurance may be required. Early termination fee of $500.00 may apply if closed and paid off within the first 24 months. There are no closing costs in most cases if loan is in a valid second mortgage position behind a bank or other financial institution. You may pay certain fees to third parties. These fees generally total between $0.00 to $1,000.00. Consult your Tax Advisor about deductibility of interest. All loans are subject to the Bank’s credit standards. The maximum rate is 18%. Promotional offer may be terminated at anytime at the discretion of Pentucket Bank.

^Both the Equity Line of Credit and Equity Loans are subject to the following conditions:
  • There are no closing costs in most cases if loan is in a valid second mortgage position behind a bank or other financial institution. You may pay certain fees to third parties. These fees generally total between $0.00 to $1,000.00.
  • Loans are limited to a person's primary residence (1-4 Family Property)
  • Loans amounts range from $10,000 to $250,000
  • The maximum combined loan to value is 80%.