Enjoy the security and stability of having the same monthly payment with this home mortgage from Webster.
- Flexible options to meet your needs
- Tax deductible benefits1
Our Home Equity Loans come with Webster's renowned personal service and a guarantee that you'll get your cash fast.
Home Equity Loan
A "closed end" Home Equity Loan features a fixed interest rate so you plan for the long run and always know what your monthly payment will be. You get all your money up front in one lump sum, but you won’t be able to draw more funds unless you apply for another loan. This is a great option if you have a specific expense you’re funding and you know the exact amount you need – like a home improvement or debt consolidation. What you lose in the flexibility of a line of credit, you gain in having a fixed rate for the life of the loan.
- Loan Amounts from $25,000 to $500,000*
- Easy one-time financing – get the full amount upfront
- No closing costs on loan amounts up to $500,000*
- The security of a fixed-interest rate – featuring fixed principal plus interest payments over a set period
- Terms available from five to thirty years
- 0.25% rate discount with automatic payments from your personal Webster checking account**
Popular uses for Home Equity Loans:
1 Consult your tax advisor for details
* Loans over $500,000 are considered on a case by case basis. No closing costs on loan amounts up to $500,000 that are secured by 1-4 family, owner-occupied residences. Loans greater than $250,000 may be subject to asset verification. Hazard insurance is required.
** Customers who sign up for an Automatic Loan Payment (ACH) from their Webster Personal Checking Account are eligible to receive a rate discount on Home Equity Loans. Offers may not be combined with any other promotional offer. This offer is subject to change without notice.
All loans are subject to credit approval. Please see a Webster Bank associate for details.