Home Equity

* 6-month introductory rate of 5.99% Annual Percentage Rate (APR) effective 12/11/2025. After 6 months from closing the APR becomes variable based on the Wall Street Journal Prime Rate for the life of the loan, currently 6.75% APR. Floor Rate is 3.24%. Maximum APR is 18.00%. Introductory rate requires automatic payment made from a StonehamBank checking account. Maximum combined loan to value amount cannot exceed 80% of the home’s current appraised value less any existing mortgage liens (70% for 2-4 unit properties). Home equity line of credit annual fee of $50 applies. Offer is only valid on owner-occupied, 1-4 family residential properties and single unit second homes. Homeowners insurance is required; flood insurance may be required. If the Home Equity Line of Credit is closed within the first three years, you will be charged a cost recovery fee of up to $495. For first position liens, you may be charged closing costs that range from $0 to $3,200 (note- fees may be higher for loan amounts exceeding $300,000.00) and an additional origination fee of 1% may be applicable to loans used for temporary or bridge financing. 

¹For second position liens StonehamBank will waive all closing costs with the following exclusions: a) If full appraisal is required due to loan amount over $250,000 or CLTV over 70% ($475 for single family or $675 for multifamily); b) Trust review $150 fee if the property is in a trust; c) If a Bridge Loan borrower pays all closing costs and 1 point. Payments will not include taxes and insurance; these will be the responsibility of the borrower; d) Loans with title issues may require title insurance ($2.50 per thousand) along with a $420 attorney fee. Subject to credit approval.