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Borrowing Options
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Home Equity
Home Equity Lines and Loans
Whether you want to pay for home improvements, consolidate debt, or buy a new car, Metro has many home equity options to suit your needs.
Below Prime Line of Credit
- Prime minus 1% for life - currently 2.25% APR*
- $5,000 initial draw required
- Our Flex Line allows you to convert all or any portion of your balance to a fixed rate loan
- Interest only payments during the 10 year draw period
- Line amounts from $15,000 to $500,000
- Apply now
Special Introductory Line of Credit
- Introductory 1.49% APR** through December 2012
- Prime Rate thereafter
- No initial draw required
- Our Flex Line allows you to convert all or any portion of your balance to a fixed rate loan
- Interest only payments during the 10 year draw period
- Line amounts from $15,000 to $500,000
- Apply now
Fixed Home Equity Loan
- Borrow a lump sum for a specific purpose
- Lock in a low rate for the life of the loan
- Fixed monthly payments for easier budgeting
- Minimum loan amount of $15,000
- Apply now
Home Equity Line of Credit Disclosure
*Annual Percentage Rate - Below Prime Line maximum APR is 18% and minimum is 2.25%. Requires initial draw to a third party. Prime as of 12/30/11 is 3.25%. **Introductory 1.49% Annual Percentage Rate Line good through 12/31/2012. After the introductory period, the rate will be variable equal to the prime rate as published in the Wall Street Journal. Maximum APR is 18% and minimum is 3.25%. Loan to value not to exceed 80% or 75% for condos. LTV may be reduced based on creditworthiness. Available for 1-4 family primary residences in MA or southern NH. New lines up to $500,000. No initial draw required. Property insurance required. Early termination fee applies. $200 fee if appraisal is required. Additional terms and conditions apply. Rates subject to change. Equal Housing Lender.
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