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Last Updated: 04/18/2025

Leader Bank HELOC

from Leader Bank

Last Updated: 04/18/2025

Rating not yet determined1 total votes

1 users recommend

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Highlights

Credit Score Range

650 - 850

Amount Range

$10,000 - $500,000

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

N/A

Leader Bank HELOC Review

Leader Bank HELOC is offered by Leader Bank (NMLS #449250), a bank founded in 2002 and based in Arlington, MA. Leader Bank HELOC are available in 2 states.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 650 may qualify for Leader Bank HELOC.
Only primary residences considered. Leader Bank HELOC does not offer financing for vacation homes or investment properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

Leader Bank HELOC Pros & Cons

Pros

Cons

Considers applicants with fair credit.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.
Only available in 2 states.

Leader Bank HELOC FAQ

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Leader Bank HELOC charge for a HELOC?

Leader Bank HELOC may charge an origination fee.

What types of property can you use as security for a HELOC with Leader Bank HELOC?

Leader Bank may consider HELOCs secured by the following property types:

Primary residences

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Message from Leader Bank HELOC

Leader Bank is proven to be one of the top lenders in Massachusetts. We were ranked #1 home purchase lender among banks in the state in 2020. Our dedicated team of experienced Loan Officers are ready to help you find the best solution for your mortgage needs. Whether you’re buying your first home or your dream home, Leader Bank has a mortgage solution for you.

A home equity line of credit lets homeowners borrow money against the equity in their home. They are often used for home improvements or to consolidate high-interest rate debt. Borrowers who require standalone and second mortgage financing may obtain a fixed Annual Percentage Rate for the initial term of the loan, followed by a rate based on the current Prime index for the life of the loan. By combining a traditional first mortgage with this second mortgage program, borrowers may potentially avoid higher cost non-conforming financing options as well as private mortgage insurance, all while giving them access to funds for their current needs.

Contact

Headquarters

180 Massachusetts Ave

Arlington, MA 02474

(781) 641-8600

Visit Site

Email Support

Hours of Operation

SundayClosedMonday8:30AM - 6:00PMTuesday8:30AM - 6:00PMWednesday8:30AM - 6:00PMThursday8:30AM - 6:00PMFriday8:30AM - 6:00PMSaturdayClosed

Other Services by Leader Bank

Home Mortgage Loans

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Mortgage Refinance

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SuperMoney Net Recommendation Score

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Leader Bank HELOC Community Reviews

Would you recommend Leader Bank HELOC to your friends?

BL

Bright L.

Oct 31, 2020

May or may not recommend

I had great experience using Leader bank Heloc. There staffs possess good communication skills, they are always ready to respond to any complaints. I have peace of mind that my money is in save hands unlike other banks. They are second to none. I strongly recommend them.

Showing 1 of 1 reviews