
Century Bank of Massachusetts Home Equity Lines of Credit
Not enough votes for recommendation
Explore a similar product
Try this top product in Home Equity Lines of Credit.
Loan Amount | $10,000 - $150,000 |
APR (Fixed APR) | 2.75% - 18% |
Maximum LTV | 75% |
Century Bank of Massachusetts Home Equity Lines of Credit Review
Century Bank of Massachusetts Home Equity Lines of Credit is offered by Century Bank of Massachusetts (NMLS #411068), a bank founded in 1969 and based in Somerville, MA. Century Bank of Massachusetts Home Equity Lines of Credit are available in 1 state across the USA.
Century Bank of Massachusetts Home Equity Lines of Credit FAQ
How much can you borrow with a HELOC?
HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can access your funds by check, phone, credit card, or online up to your HELOC amount.
Century Bank of Massachusetts Home Equity Lines of Credit allows borrowers to apply for lines of credit of up to $150,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
This lender's maximum loan to value rate is 75% for qualified borrowers. That means the total debt secured by the property cannot exceed 75% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have excellent credit, you may qualify for a line of credit of up to $55k.
What are the terms for a Century Bank of Massachusetts Home Equity Lines of Credit?
HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan.
Century Bank of Massachusetts Home Equity Lines of Credit offers home equity loans with a draw period of up to 10 years and a repayment period of 10 years.
Is there a minimum draw requirement?
No, there isn't a minimum draw requirement.
What range of rates does Century Bank of Massachusetts Home Equity Lines of Credit offer?
Century Bank of Massachusetts Home Equity Lines of Credit offers APRs as low as 2.75% and up to 18%.
Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.
What fees does Century Bank of Massachusetts Home Equity Lines of Credit charge for a HELOC?
Century Bank of Massachusetts Home Equity Lines of Credit may charge a loan origination fee . Another fee you should factor in is a cancellation fee of up to $425.
What types of property can you use as security for a HELOC with Century Bank of Massachusetts Home Equity Lines of Credit?
Lenders often have restrictions on the type of properties they will accept as security for a HELOC. Century Bank of Massachusetts Home Equity Lines of Credit will consider lines of credit secured by the following property types:
- Primary homes.
- Secondary homes and vacation properties
Message From Century Bank of Massachusetts Home Equity Lines of Credit
Contact
- Headquarters
-
102 Fellsway West
Somerville, MA 02145 USA - (866) 823-6887
- Visit Site
- Email Support
Other Services by Century Bank of Massachusetts
Availability
Be the first to rate
Would you recommend Century Bank of Massachusetts Home Equity Lines of Credit to your friends?
- 1st Constitution Bank HELOC
- Capital Bank Home Equity Line of Credit (HELOC)
- Citizens National Bank HELOC
- First Bank of Wyoming Home Equity Line of Credit
- First Horizon Bank Home Equity Line Of Credit
- Members 1st CU Utah Home Equity Line of Credit
- Members 1st Credit Union Heloc (Fixed Rate)
- Members 1st Credit Union Heloc (Variable)
- Members First CU Florida HELOC
- Point HELOC & HEI
- Sterling Bank & Trust HELOC
- TD Bank Home Equity Line of Credit