Home equity loans & lines of credit
Your house is your cash reserve; tap its equity for the things you need money for now. With a home equity loan, you get all the financing at once; whereas with a line of credit, you draw upon the funds as you need them.
Compare your options
Home equity loan
Plan for the long term with an upfront lump sum and fixed interest rate. If you're funding a specific expense, get the exact amount you need3.
- Fixed APR as low as 5.365% (for a 5-year term, $50k loan that includes ACH payments, Premier checking and first lien discounts)
- Terms from 5-30 years
Home equity line of credit
You decide when and how much to withdraw from your home equity line of credit (HELOC) and only pay interest on what you withdraw.
- Intro rate of Prime minus .76% for 12 months (currently 6.24% APR)1
- 10 years to draw on line
- 20 years to repay2
- Up to 1.75% in discounts available after introductory period2
- Interest only for the first 10 years
Both loans and lines
- Amounts start at $10,000
- Funding available up to $500,000 in CT & RI and $750,000 in MA and NY
- No closing costs
- Multiple discounts available to Webster customers