Benefit Home Equity Flex

The flexibility of a line of credit with the shorter term of a more traditional loan.

The Flex Equity is designed to help you get a few things done and pay them off. Add to that a fixed rate that will never increase and you have a powerful tool to help you take care of business.
  • Fixed rate line of credit
  • Draw on the line up to three years
  • 10-year repayment period thereafter


Benefit Home Equity Flex

Lock in a low Benefit Home Equity Flex Line of Credit, and enjoy the flexibility of financing things like home improvement, education costs—important stuff. You can draw on the Benefit Home Equity Flex for 3 years, followed by a 10-year repayment period, and your rate won't go up. 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
7.500% $10,000-$1,000,000 Up to 80%
8.000% $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. 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). Three-year advance period followed by a 10-year principal and interest repayment. Rate will not change during life of loan. 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.