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Massachusetts Home Equity Loans
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Home Equity Rates
PRODUCT +/- Rate Last week
30 year fixed Graph Icon Arrow 4.09% 4.16%
15 year fixed Graph Icon Arrow 3.25% 3.30%
5/1 ARM Graph Icon Arrow 3.28% 3.36%

 Rate disclaimer

PRODUCT +/- Rate Last week
30 year fixed refi Graph Icon Arrow 4.09% 4.17%
15 year fixed refi Graph Icon Arrow 3.25% 3.34%
10 year fixed refi Graph Icon Arrow 3.15% 3.18%
PRODUCT +/- Rate Last week
60 month used car loan Graph Icon Arrow 3.20% 3.20%
48 month used car loan Graph Icon Arrow 3.18% 3.19%
60 month new car loan Graph Icon Arrow 3.44% 3.44%
PRODUCT +/- Yield Last week
6 Month CD Graph Icon Arrow 0.75% 0.71%
1 Year CD Graph Icon Arrow 1.24% 1.24%
2 Year CD Graph Icon Arrow 1.41% 1.41%
PRODUCT Rate
MMA and SAVINGS 0.58%
$10k MMA 0.57%
Interest Checking 0.43%

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Massachusetts Home Equity Loans


Homes with stunning views on Cape Cod (02648) to the historical and industrious city of Boston (02210) provide fabulous opportunities for homeowners to tap into their home’s equity to finance a variety of projects and endeavors. Second mortgage products in Massachusetts include both home equity loans and home equity lines of credit (HELOC). A home equity loan acts as a traditional mortgage loan; offering a fixed rate and a pre-determine repayment policy. Home equity loans are typically used to fund home improvement and repair projects or for debt consolidation. A home equity line of credit (HELOC) is desirable for those who need an ongoing, steady cash stream. This variable rate home equity line of credit allows the borrower to only repay the amount drawn against the line.

Another home loan option is cash-out refinancing. Cash-out refinancing is when borrowers obtain a new mortgage, usually at a lower rate, to pay off an existing mortgage. The remaining money from the new mortgage becomes the borrower’s home equity loan. This strategy is typically deployed in Massachusetts when the borrower can obtain a lower rate, but still has home equity loan needs.

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