North Shore Bank

FreedomFlex Home Equity Lines

If you’re a homeowner, you can use the equity built up in your home to possibly secure the lowest-rate financing that North Shore Bank offers. And remember, with a Home Equity Lines of Credit, like our FreedomFlex Equity Line, the interest may be tax-deductible (make sure to check with your tax advisor).

FreedomFlex Equity Line of Credit

With a FreedomFlex Equity Line of Credit from North Shore Bank, you can use the equity in your home whenever you need it. Whether adding a room, buying a boat or financing a child’s education, our FreedomFlex Equity Line can provide you with flexibility and worry-free ease of usage. This unique product combines features of Home Equity Lines of Credit and Home Equity Loans, 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.

The FreedomFlex Equity Line offers:

  • No closing fees or closing costs*
  • Loan amounts up to $500,000
  • A variable rate that floats with the Prime Rate as published by the Wall Street Journal

Click here for FreedomFlex Equity Line rate and disclosure information.

For additional information about our FreedomFlex Equity Line of Credit, stop by any of our convenient locations or call Customer Support at (978) 573-1300 (during normal operating hours).

Apply now for a FreedomFlex Home Equity Line of Credit!


* Annual Percentage Rate (APR) as of 11/30/18 is 2.99% fixed for the first 12 months of the line. Thereafter, the rate will adjust to the Prime Rate as published in the Wall St. Journal on the last business day of the month (Prime Rate as of 11/30/18 was  5.25%) minus .50%. Maximum interest rate is 18.00%, with a floor of 3.00% after the first year. Requires an initial draw of $20,000 at closing. Automatic payments from a North Shore Bank checking account required. If auto pay is discontinued at any time, the rate will adjust to Prime. Property insurance is required and flood insurance may be required. $50 Annual Membership Fee (waived the first year if the borrower has an Advantage Checking account.). 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 to determine property value. If a full appraisal is needed or requested by the borrower, the appraisal fee will be at the borrower's cost. 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