Fixed-Rate Home Equity Loan

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A fixed rate home equity loan provides the money you need right now, with a budget friendly regular monthly payment amount.

  • Always know what your payment will be, no need to worry about rising rates
  • Low, minimum loan amount of $5,000
  • $0 application fees
  • $0 closing costs
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Home Equity FAQs

Home equity is created when the value of your home increases and/or when you reduce the amount you owe on your home through loan payments.

Anything you want! You can consolidate debt, pay for tuition or medical expenses, a new car, home improvements or any big-ticket purchase. It’s your call. 

A home equity line or loan may carry a lower interest rate than a credit card, and it may provide you with more money to do the things you want. Also, as an added bonus, the interest paid on some home equity lines and loans can be tax deductible when the money was used for home improvements.  Check with your tax advisor to find out.

At a Liberty Bank branch location. During the application process, we'll ask you which Liberty Bank branch you would like to close in. A helpful Liberty Bank advisor will guide you through all the closing documents and answer any questions you have.

Home Equity Loans

Liberty Bank will help you find the home equity loan that fits you best. 
Loan Line/Loan Amount LTV Rate APR
5 Year Fixed Home Equity Loan1,2 $5,000 - $500,000 ≤80% LTV 6.75% 6.75%
10 Year Fixed Home Equity Loan1,3 $5,000 - $500,000 ≤80% LTV 7.00% 7.00%
15 Year Fixed Home Equity Loan1,4 $5,000 - $500,000 ≤80% LTV 7.375% 7.375%
20 Year Fixed Home Equity Loan1,5 $5,000 - $500,000 ≤80% LTV 7.875% 7.875%
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Disclosures

Rates effective as of:

  1. Annual Percentage Rate (APR) and rate posted are indications only, are subject to change without notice and qualification is subject to credit, underwriting and property approval. Your actual rate and/or points may be different as many factors go into providing you with a mortgage loan. The property must be located in CT, MA or RI. The maximum combined (existing mortgage loan balances plus Home Equity Credit Line limit) loan-to-value ratio (“LTV”) is 80% of market value if total liens do not exceed $1,000,000, the property is mortgage free or has a first mortgage held by Liberty and the applicant has a minimum FICO score of 660. Contact your local Liberty Bank branch office for additional LTV limits that are applicable if total liens exceed $1,000,000, if Liberty isn’t in first lien position, or if the property is a second home. A one-time $500 early termination fee will be assessed on loans of $25,000 or more if you close your account within the first two years. Homeowners insurance required. Flood insurance may be required. Trust fees may apply.
  2. The information provided assumes single family home, primary residence with a loan amount of $50,000 and a maximum combined loan to value of 80%.  At a 6.75% interest rate, the APR would be 6.75%. The monthly payment schedule would be 59 payments of $984.17 and 1 payment of $984.38. The payment amount shown includes principal and interest. Your actual payment will be higher if escrow payments for property taxes and/or insurance are made in addition to the regularly scheduled loan payment. For loans in First Lien position, additional .50% discount to interest rate and APR applies.
  3. The information provided assumes single family home, primary residence with a loan amount of $50,000 and a maximum combined loan to value of 80%.  At a 7.00% interest rate, the APR would be 7.00%. The monthly payment schedule would be 119 payments of $580.54 and 1 payment of $580.91. The payment amount shown includes principal and interest. Your actual payment will be higher if escrow payments for property taxes and/or insurance are made in addition to the regularly scheduled loan payment. For loans in First Lien position, additional .50% discount to interest rate and APR applies.
  4. The information provided assumes single family home, primary residence with a loan amount of $50,000 and a maximum combined loan to value of 80%. At a 7.375% interest rate, the APR would be 7.375%. The monthly payment schedule would be 179 payments of $459.96 and 1 payment of $460.41. The payment amount shown includes principal and interest. Your actual payment will be higher if escrow payments for property taxes and/or insurance are made in addition to the regularly scheduled loan payment. For loans in First Lien position, additional .50% discount to interest rate and APR applies.
  5. The information provided assumes single family home, primary residence with a loan amount of $50,000 and a maximum combined loan to value of 80%. At a 7.875% interest rate, the APR would be 7.875%. The monthly payment schedule would be 239 payments of $414.34 and 1 payment of $413.58. The payment amount shown includes principal and interest. Your actual payment will be higher if escrow payments for property taxes and/or insurance are made in addition to the regularly scheduled loan payment. For loans in First Lien position, additional .50% discount to interest rate and APR applies.