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Take Out $10,000 - $250,000 and Unlock Your Future


Advantages of a QuickStart HELOC

A home equity line of credit (HELOC) lets you borrow money through the equity in your home. Our QuickStart HELOC is designed so you can access your money, fast!

Whether you need to fund a home renovation, education costs, or a vacation, our QuickStart HELOC will give you the support and state of mind you need to live your best life. Contact an EBSB branch today for a faster turn around time!

Apply Today

You can apply for a QuickStart HELOC today. Visit the nearest EBSB branch to start.

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Features & Benefits

  • Unlock up to $10,000 to $250,000.
  • A HELOC is flexible and can be used for just about anything.
  • No application fee.
  • Available to 1-4 family owner occupied properties (includes condominiums) in Eastern Massachusetts.
  • The interest you pay on this loan may be tax deductible. Consult your tax advisor.
  • Condominiums require additional documentation and additional processing time will apply.
  • Reduce rate by 0.25% (applies to new HELOC's only) with auto-payment from an EBSB Personal Checking Account.*
  • QuickStart HELOC Program is for new lines only and allowed once per property. Not available for refinancing of an existing HELOC Program account.
* If your monthly payment is automatically debited from an East Boston Savings Bank Personal Checking Account, you will receive a 0.25% rate reduction. East Boston Savings Bank Personal Checking Account with auto-payment must be established prior to closing. If you fail to maintain your East Boston Savings Bank Personal Checking Account and the auto-payment, the rate reduction will be terminated. Available for Owner Occupied Properties only.

What can a HELOC be used for?

  • Home Renovations
  • Vacations
  • Education Tuition
  • Medical Expenses
  • Consolidating Debt


QuickStart Introductory HELOC Program

Rates as of December 5, 2019

Product Introductory APR* APR* Minimum Payment Options Loan to Value Term
Monthly Variable


(for the first 12 months) (a)
Prime Rate minus 0.50% with a floor of 4.00% (a) 1% of outstanding balance
(P&I) not less than $100 per month (b)


w/ EBSB 1st mortgage (c)
20 year total term.
10 year draw &
10 year repayment of outstanding balance (d)

*Annual Percentage Rate (APR), subject to credit approval.
(a) 2.99% for the first 12 months followed by Prime minus 0.50% with a floor of 4% and the maximum possible APR is capped at 18%. The APR is based on the Prime Rate as published in the Wall Street Journal on the last business day of the month. (Prime Rate as of 10/31/2019 was 4.75%) 
(b) An Interest Only payment option is also available with this product.
(c) The maximum CLTV of 80% with EBSB first mortgage or 75% with first mortgage held at another financial institution, with credit scores 700 or greater (no derogatory or disputed credit). Value is based on assessed value or automated property valuation for a single family; 2-4 family value is based on assessed value.
(d) One hundred and twenty substantially equal payments of principal, plus interest during repayment period.

  • Property insurance required, which includes Flood Insurance if required.
  • Rate and terms may change at any time.
  • Minimum draw amount is $500 for each transaction.
  • Not available for homes currently for sale.
  • Properties held in a Trust are not eligible. See a Bank Representative for alternative options.


Product Fees

  • $50 annual fee
  • $500 early termination fee for lines closed within the first 24 months
  • Borrower is responsible for all additional recording or discharge fees and all required escrows, if applicable.

For more information or to apply, visit your local branch office or call 800-657-3272.

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