Home Equity Lines of Credit

Financing life's milestones is easy with a home equity line of credit.

With a  Home Equity Line from North Shore Bank, you can use the equity in your home whenever you need it. Whether adding a room, financing a child’s education or paying for that special day, our home equity line can provide you with flexibility and worry-free ease of usage. This unique product combines features of a Home Equity Line of Credit and a Home Equity Loan, plus some extra features to better serve your changing financial needs. For instance you always have the option of converting a portion or the entire line of credit to a fixed rate. And remember, with a Home Equity Line of Credit, the interest may be tax-deductible (make sure to check with your tax advisor).

Our Home Equity Line of Credit offers: 

  • A competitive rate and flexible access — a 10-year draw period, followed by a 10-year repayment period

  • No closing fees or closing costs*

  • Loan amounts up to $500,000

Current Home Equity Line of Credit Rate

For additional information about Home Equity Lines of Credit, stop by any North Shore Bank branch office or call Customer Support at (978) 573-1300 (during operating hours).
*Annual Percentage Rate (APR) as of 7/27/23 is 8.50% — or the Wall Street Journal prime rate. Home Equity Lines have a floor rate of 3.25% (your interest rate will never fall below the floor rate). The maximum interest rate is 18.00%. Property insurance is required and flood insurance may be required. There is a $50 Annual Membership Fee for all home equity lines of credit. 1-4 family owner occupied properties and second homes only. Property must not be currently listed for sale. Minimum line amount is $25,000. Maximum line amount $500,000. For Loan requests up to $250,000, the Bank will utilize automated appraisals at the bank’s expense to determine property value. Maximum 75% combined loan-to-value based on appraised value. Maximum debt-to-income ratio 45%. Early termination fee of $500 for equity line accounts closed within the first 36 months. Subject to credit approval. If property is held in a Trust, or there are outstanding discharges, borrowers will pay additional fees. If the line is in first lien position or in excess of $250,000 title insurance will be required to be paid by the borrower. NMLS Number 466007

Apply Now!

To apply for a North Shore Bank Home Equity Line of Credit, click the button below and follow the instructions to complete the online application .