Home Equity

Get the most out of your home

Looking to extend your budget? Perhaps a remodel, major purchase, or other large expense is on the horizon. A home equity loan or line of credit lets you borrow against the equity in your home, often at lower rates than traditional personal loans or credit cards.

At Webster First, we understand how important choosing the right type of financing is. That’s why our commitment is to you and understanding your unique needs. We’ll help you make the right decision, so you can focus on what really matters.

What’s home equity?

Simply stated, home equity is what your home is worth, minus anything you owe.

A home equity loan or line of credit lets you borrow against the equity in your home, often at lower rates and greater amounts than a personal loan or credit card.

Choosing a home equity

We offer both loans and lines of credit, so you can choose the home equity that best suits your needs and budget.

Home Equity Loan

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  • As low as 4.959% APR*
  • Loan amount is fixed and you receive the funds upfront
  • Your rate and payments are fixed for the life of the loan
  • Terms of 5, 10, or 15 years available
  • Consider this option if you prefer a fixed loan amount, rate, and payments

Home Equity Line of Credit

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  • As low as Minimum APR is 4.750% and maximum is 15.000% APR*
  • A revolving credit line available as you need it
  • No requirement to carry a balance
  • Payments are based on your current credit line usage**
  • Consider this option if you prefer flexibility with amount of credit you plan to use
  • View disclosures

Benefits of a Webster First home equity

Financing available for up to 100% of the value of your owner occupied home, less your first mortgage

No closing costs for lending amounts of $15,000 or more

Generally offers greater lending amounts and lower rates than personal loans and credit cards

How can we help?

Our dedicated Loan Officers are here to answer your questions. Call us at (800) 962-4452 or contact your local branch for an expert right around corner.

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Current Rates

Type Rate APR Monthly Payment (per $1,000)
Home Equity Loans

0 – 5 Years

4.875% 4.959% $18.81

6 – 10 Years

5.000% 5.045% $10.61

11 – 15 Years

5.250% 5.283% $8.04
Max Equity Loan

5 Year

6.000% 6.104% $19.33

10 Year

6.250% 6.308% $11.23

15 Year

6.875% 6.921% $8.92
Endless Equity Line of Credit

New Equity Member

Fixed for the first 24 months then prime for life

4.500% Minimum APR is 4.750% and maximum is 15.000%

Refinanced

Fixed for the first 24 months then prime for life

4.750% Minimum APR is 4.750% and maximum is 15.000%
Max Equity Line of Credit

Fixed for the first 24 months then prime + 1.750%

6.500% Minimum APR is 6.5000% and maximum is 15.000%

*APR = Annual Percentage Rate

All Home Equity and Home Equity Line of Credit annual percentage rates (APR) are based on the prime lending rate published in the Wall Street Journal, currently at 4.750% as of 6/15/2022. Rates apply to 1-4 unit owner occupied primary residences. Rates subject to change without notice. Please call for detailed underwriting guidelines. Early termination fee applies.

Home Equity Line of Credit subject to minimum monthly payment of $50.00.

Subject to credit union underwriting approval. Taxes and insurance are not included in the payment examples.

Award-winning service

2020 Best of Central Mass winner award badge

2020 Winner: Best of Central Mass

2019 Winner: Best of Central Mass

Rated 5 Stars Bauer

2018 Winner: BBB Marketplace Excellence

Why choose Webster First?

Smart money decisions are in our DNA

Webster First is one of the most well capitalized credit unions in Massachusetts as a result of our hard work and determination to make the best possible financial decisions. With our experience and dedicated team, we’re confident we can help you make the right financial decisions too.

Local, neighborly know-how

Our roots are in Massachusetts, opening our first branch in the small town of Webster back in 1928. Since then we’ve grown to over $1.2 billion with over 80,000 members who trust us with their banking. Since our lending team is locally grown too, they personally care about the success of their neighbors and community.

Authenticity you can trust

As New Englanders, we believe in being upfront and honest. You can expect straightforward answers to all your mortgage questions. Each relationship starts with trust and it’s the cornerstone of our acclaimed member service.