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Home Equity Lines of Credit
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Last Updated: 04/18/2025

Leader Bank HELOC

in Home Equity Lines of Credit from Leader Bank

Last Updated: 04/18/2025

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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

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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

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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Leader Bank HELOC logo

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
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Email Support

Hours of Operation

Sunday
Closed
Monday
8:30AM - 6:00PM
Tuesday
8:30AM - 6:00PM
Wednesday
8:30AM - 6:00PM
Thursday
8:30AM - 6:00PM
Friday
8:30AM - 6:00PM
Saturday
Closed

Other Services by Leader Bank