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With a Home Equity Line of Credit you can put the hidden value in your home to work.

Home Equity Line of Credit

Prime, currently

7.50% APR*

 

 

Apply Now   View Rates


Key Features

  • Competitive Rates
  • Quick Decisions
  • Local Processing
  • Anytime Funds

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Unlocking the power of your home’s equity with a Home Equity Line of Credit (HELOC) gives you flexible access to funds when you need them. With a revolving credit structure, you can borrow, repay, and borrow again—giving you financial freedom for both planned and unexpected costs.

Here are some common ways homeowners use a HELOC:

  • Start Home Renovations, Additions & Upgrades
  • Make Large Purchases
  • Pay Education Expenses
  • Vacation Planning
  • Emergency Fund
  • Consolidate Debt
  • and More
  • The existing equity in your home is used as collateral backing
  • Funds are available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit — as principal is repaid, more becomes available for use
  • Interest is only charged on what you use, and the interest paid might be tax deductible1
  • 10-year draw period, 15-year repayment

1The interest paid on a home equity loan or credit line may be tax deductible depending on your particular tax status. Consult your tax advisor regarding tax deductibility.

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Meet Our Lenders

Our experienced, knowledgeable and friendly lenders are ready to help you with your HELOC loan.

  • Amber Messer

    Monson Branch Manager

    NMLS ID 2063730

    (413) 267-1215

    Email Amber Messer
  • Adriano dos Santos

    Hampden Branch Manager
    Retail Banking & Security Officer

    NMLS ID 959426

    (413) 267-1290

    Email Adriano dos Santos
  • Vicki Baldyga

    Wilbraham Branch Manager

    NMLS ID 864006

    (413) 267-1281

    Email Vicki Baldyga
  • Shannon Ortona

    Ware Branch Manager & IRA Administrator

    NMLS ID 1462400

    (413) 725-4545

    Email Shannon Ortona
  • William Toth

    East Longmeadow Branch Manager

    NMLS ID 1404960

    (413) 893-0195

    Email William Toth

*Rates are accurate as of Today's Date (Do Not Delete). The Annual Percentage Rate (APR) will be variable based on the highest Prime Rate published in the Wall Street Journal, as published on the first day of each monthly statement cycle and shall be adjusted on the first business day of each subsequent monthly cycle. The maximum APR is 18%. An early termination fee of $500 will apply if the loan is paid and discharged within 36 months from date of origination. Property insurance is required. Flood insurance may be required. Minimum line amount is $7,500. Maximum loan to value is 80% of the home’s value based on a full appraisal report. Closing costs to be paid by MSB.

You may be required to pay for any inspections and/or valuations related to the property secured by the Home Equity Line of Credit, as deemed necessary by Monson Savings Bank. These fees can range from $100-$575. $105 recording fee to discharge a prior mortgage may be required. For properties held in a trust, any applicable legal and/or recording fees relating to closing the loan in the trust will be paid by the borrower. Not available to existing Home Equity customers. Offer can end at any time without notice. Credit offer is subject to credit approval.

Each depositor is insured by the FDIC up to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).