Home Equity Rates

Need money for home improvements, college tuition, bill consolidation? Use your home's equity to choose from one of our great home equity programs. Plus, interest charged may be tax deductible! (Ask your tax advisor for details).

Program APR
Prime minus 1% for the life of the line with automatic monthly payments from a Bridgewater Savings checking account (Line Amounts from $10,000 to $300,000.)4.25%1
Prime minus 0.75% for the life of the line (no automatic payments) (Line Amounts from $10,000 to $300,000.)4.50%1

1Annual Percentage Rate (APR) based on the Prime Rate as published in The Wall Street Journal on the last business day of the billing cycle. This rate may increase or decrease monthly. As of October 01, 2018, the Prime Rate is 5.25% with a Minimum Floor Rate of 4.25%. The maximum APR is 18% during the life of the line of credit. Line amounts from $10,000 to $300,000 for 1-2 family primary residences within Massachusetts. Bridgewater Savings will waive fees to obtain a Home Equity product. Fees to be waived include automated valuation (AVM) fee on single family homes, credit report fee, flood zone determination fee and legal fees. Appraisal fee, if required, is payable in advance by applicant. There is a $50 annual fee. There is a $400 early termination fee if the line is terminated within 36 months after the Agreement is signed. 80% combined loan to value ratio up to $200,000 for 1-family residences and condominiums. Lower loan to value ratio for all other transaction & property types. All home equity products require proof of adequate property insurance.

Program TermAPRMonthly Payments per $1000 Borrowed
Fixed Rate Home Equity Loan (Loan amounts from $10,000 to $300,000 Fixed Home Equity Loan Rates are with Automatic Payment from a Bridgewater Savings checking or statement savings account)5 Years5.250%$18.99
6 - 10 Years5.490%$16.33
11 - 15 Years5.750%$10.24
16 - 20 Years5.990%$8.11

2Loan amounts from $10,000 - $300,000 for 1-4 family primary residences within Massachusetts. Bridgewater Savings will waive fees to obtain a Home Equity loan. Fees to be waived include automated valuation (AVM) fee, credit report fee, flood zone determination fee and legal fees. Appraisal fee, if required, is payable in advance by applicant. 80% combined loan to value ratio up to $200,000 for 1-family residences and condominiums. Lower loan to value ratio applies to all other transaction & property types. All home equity products require proof of adequate property insurance. Monthly payment example based on minimum term. Rates shown assume monthly payments are made via automatic payment from a Bridgewater Savings checking or statement savings account. Add .25% to rate if automatic payment is not desired. Payments do not include amounts for real estate taxes and insurance premiums, if applicable, which will increase your total payment obligation.