Home Equity Lines of Credit

Financing life's milestones is easy with an NSB 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
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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 4/10/20 is 4.25% — Wall Street Journal Prime Rate + 1.00%. The maximum interest rate is 18.00% with a floor of 4.25%. Property insurance is required and flood insurance may be required. $50 Annual Membership Fee (waived the first year if an Advantage Checking Account is maintained). 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 may utilize automated appraisals at the bank’s expense to determine property value. If a full appraisal is needed or requested by the borrower, the appraisal fee may be at the bank or borrower's expense, dependent on circumstances. Maximum 75% combined loan-to-value based on appraised value. Maximum debt-to-income ratio 43%. 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 .