Benefit Home Equity Fixed

A twist on the traditional HELOC.

The Benefit Home Equity Fixed offers a fixed rate that will never increase—not during the 7-year draw period and not during the 15-year repayment. It is a 22-year fixed rate solution.
  • Fixed rate line of credit
  • Draw on the line up to 7 years
  • 15-year repayment period thereafter


Benefit Home Equity Fixed

Our Benefit Home Equity Fixed is one of the few equity programs offering a fixed rate for the life of the loan. And because it's a line of credit, not just a loan, you have access to cash whenever you need it. For additional information, email us at, or call 1.877.Bangor1 (1.877.226.4671).

APR: Rate Lines with Total Exposure Limits Maximum Loan to Value
8.000% $10,000-$1,000,000 Up to 80%
8.500% $10,000-$1,000,000 Up to 85%

Early Termination Fee of $450 if the line is terminated within the first 36 months. Early Termination Fees are not applicable for Vermont properties. Massachusetts properties' Early Termination Fee is ≤ 2% of the line limit, not to exceed $450.00. Bangor Savings Bank deposit account and auto-pay required to obtain APR Relationship Rate. If determined to be required, valuation of property and/or title insurance may be obtained. Costs may range from $550 to $1,000. Maximum loan to value is 85 percent of appraised value, including any other existing liens. For loan to value’s greater than 80 percent, a full appraisal is required. Line amounts between $10,000 and $1,000,000 are based on total exposure (all debts on the property) and are limited by the borrower(s) credit score(s). Seven-year advance period followed by a 15-year principal and interest repayment. Minimum credit advance $250. Available for owner-occupied 1 to 4 family residential properties and second homes. A Hazard Insurance policy is required and must be approved by the Bank prior to closing. All loans are subject to credit approval by Bangor Savings Bank. Interest rates and annual percentage rates are subject to change without notice and are accurate as of July 27, 2023.