Benefit Home Equity Variable

A traditional HELOC offering longer-term access to funds.

This option is a great fit for someone that needs ongoing access to funds.
  • Variable rate line of credit
  • Draw on the line up to 10 years
  • 15-year repayment period thereafter
  • Competitive interest rates, tied to the prime interest rate

Benefit Home Equity Variable

Tap into the equity in your home at competitive rates to fund home improvements, vacations, education, investments, taxes, and more with our Benefit Home Equity Variable. Use it over and over again—even if your first mortgage is not with us. For additional information, email us at, or call 1.877.Bangor1 (1.877.226.4671).

APR: Standard Rate APR: Relationship Rate Line Amount Maximum Loan to Value
4.500% (Prime-0.25%) 3.500% (Prime-1.25%) 10,000-1,000,000 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. Any applicable origination fee will be waived for borrowers with a Bangor Savings Bank Benefit Plus® Checking account and auto-pay of monthly payments. If determined to be required, valuation of property and/or title insurance may be obtained. Costs may range between $500 to $1,000. Maximum loan to value is 85 percent of appraised value, including any other existing liens. Loan amounts between $10,000 and $1,000,000. Ten-year advance period followed by a 15-year principal and interest repayment. Available for owner-occupied 1 to 4 family residential properties and second homes. Hazard Insurance is required. The maximum annual percentage rate that may be imposed is 18.000%. The variable rate is tied to the highest domestic Prime Rate published in the “Money Rates” section of The Wall Street Journal, plus or minus a margin. All loans are subject to credit approval by Bangor Savings Bank. Bangor Savings Bank deposit account and auto-pay required to obtain relationship rate. Interest rates and annual percentage rates are subject to change without notice and are accurate as of January 14, 2020.