Equity Loans
Equity Loan Lending Area
Mortgage and Equity Lending Area
Foxboro Federal’s mortgage and equity loan lending area consists of Essex, Middlesex, Norfolk, Bristol, Plymouth, Barnstable, Worcester and Suffolk counties in Massachusetts and the entire state of Rhode Island, with the following exceptions. Excluded are the islands of Martha’s Vineyard and Nantucket in MA and Block Island in RI.
Home Equity Loans
Fixed Rate Equity Loans
Get an attractive rate plus the security of knowing that your interest rate won’t change. Closing costs are low and funds are disbursed at closing, making them available immediately for the completion of that special project.
Home Equity Line of Credit
Our equity line of credit provides you with maximum flexibility. This loan offers a convenient check writing feature so that you can use the funds whenever you want, for whatever you want. Our line of credit also features low or no closing costs and a very competitive interest rate.
Home Equity Line of Credit
| Product Description | Interest Rate | APR |
|---|---|---|
| Variable Rate 10 Year Draw 10 Year Repayment $25,000 - $250,000 | 6.500% | 6.500% |
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Annual Percentage Rate (APR) subject to change without notice. Variable rate loan with a 10-year draw/10-year repayment. Click here for product details. Property insurance required. Home Equity Line of Credit rate is based on the Prime Rate as published in The Wall Street Journal and will never exceed 12%. Subject to credit approval. Other terms and conditions apply. Wall Street Journal Prime Rate as of 11/3/2022 is 7.000%
Fixed Equity Loan
| Product Description | Points | Interest Rate | APR | $ Per $1000 | |
|---|---|---|---|---|---|
| 10 Year Fixed Equity | 0.00 | 5.250% | 5.335% | $10.73 | |
| 15 Year Fixed Equity | 0.00 | 5.500% | 5.560% | $8.17 | |
| 20 Year Fixed Equity | 0.00 | 5.750% | 5.798% | $7.02 |
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Owner occupied SF properties only. Maximum 80% TLTV. Annual Percentage Rate (APR) based on a $50,000. loan. Payments noted do not include amounts for taxes and insurance premiums the actual payment obligation may be greater if an escrow account is established. Property insurance is required. Maximum loan amount is $250,000. Subject to credit approval.