Home Equity Loan
A Home Equity Loan lets you borrow money in one lump sum. You may use the funds to finance home improvement projects, college tuition, debt consolidation or to finance any number of needs.
Home Equity Loan Fixed Rates1
Effective Date: Monday, October 26, 2020
For information or to apply, contact South Shore Bank Residential Lending at 781-682-3715.
1Advertised Annual Percentage Rate (APR) is fixed. Above rates include 0.25% discount for auto debit payments from a SSB Checking Account. Minimum loan amount $25,000; maximum loan amount $250,000. Only applicants with existing South Shore Bank first lien, or no existing lien, are eligible. The maximum combined loan to value (CLTV) is 70% for 1-4 family owner occupied properties. Second homes (vacation properties only) have a max CLTV of 60% across all terms and balance tiers. Normal and customary closing costs paid by SSB. Property held in a Trust may be considered; however, the following fees will be collected from the borrower prior to closing: Trust review Fee $75 and record Trustee Certificate $107; additional fees may apply. Property insurance is required. Flood insurance may be required. An appraisal fee ranging from $425 - $575 may apply. Certain restrictions may apply. Subject to credit approval. NMLS #407656.