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

Home Equity Line of Credit Interest Rate - 7.00% APR
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 11/3/22 is 7.00% — 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 .