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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.
Flex Home Equity Line of Credit
- Prime minus 3/4% for life - currently 2.50% APR*
- Requires $5,000 initial draw
- 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
*Annual Percentage Rate 2.50% is 3/4% below prime and is a variable rate based on the prime rate as published in the Wall Street Journal. Prime as of 12/31/12 is 3.25%. Maximum APR is 18%. Minimum APR 2.50%. Requires $5,000 initial draw.
¹See additional disclosures below.
Flex Home Equity Line of Credit Disclosure
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
Home Equity Lines & Loans:
¹Loan to value not to exceed 80% or 75% for condos. LTV may be reduced based on creditworthiness. Available on 1-4 family primary residences in MA or southern NH. Property insurance required. $135 to $350 fee if appraisal is required. $140 review fee if property is in a trust. NMLS# 198524.
Home Equity Lines of Credit. Early termination fee of $500 applies for lines closed within first 36 months.
