Home Equity Lines of Credit

Put the Equity in Your Home to Work for You! 

Life happens. When it does, it’s always nice to know that a Home Equity Line of Credit (HELOC) from Bangor Savings Bank can help you fund your plans or project. By design, a HELOC loan is much more flexible than a traditional term loan. Whether you need cash right now, or sometime in the future, the HELOC is there when you need it.

  • Benefit Home Equity Blend

    An option for someone thinking of an immediate purchase, this solution can also offer ongoing access to a line of credit.
    See rates and disclosures.

      • Low-interest rate fixed for 3 years followed by a 7-year competitive variable rate tied to the prime interest rate
      • 10-year draw period
      • 15-year repayment period following the draw period
  • Benefit Home Equity Fixed

    This twist on the traditional HELOC offers a fixed rate that will never increase — not during the draw period or repayment period.
    See rates and disclosures.

      • Fixed rate
      • 7-year draw period
      • 15-year repayment period following the draw period
  • Benefit Home Equity Flex

    A powerful tool designed to help you get a few things done and pay them off. This option has the flexibility of a credit line with the shorter term of a more traditional loan.
    See rates and disclosures.

      • Fixed rate
      • 3-year draw period
      • 10-year repayment period following the draw period
  • Benefit Home Equity Variable

    A traditional HELOC offers longer-term access to funds. This option is a great fit for someone who needs ongoing access to funds.
    See rates and disclosures.

      • Competitive variable interest rate tied to the prime interest rate
      • 10-year draw period
      • 15-year repayment period following the draw period

Investment Property Equity Line of Credit

Do you own a non-owner occupied 1-4 family investment property?

This could be the line of credit option for you.

  • 10-year draw period
  • 15-year repayment period following the draw period
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Land Only Flex Line of Credit

Do you own raw, vacant land?

Lock in this line of credit option, and enjoy the flexibility of financing things like home improvement, education costs— important stuff.

  • Fixed rate
  • 2-year draw period
  • 8-year repayment period following the draw period
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Green Energy Financing

Financing options available for borrowers looking to make home-energy improvements to a new or an existing home.
Learn More

A HELOC from Bangor Savings Bank can be used for a wide variety of needs, including:

  • Home improvements 
  • Vehicle purchase
  • Car repairs
  • Consolidation of high interest credit card debt
  • Education  
  • A dream vacation  
  • And more! 

The Benefits of a Home Equity Line of Credit 

There are many advantages of a HELOC loan, such as:

  • Extremely flexible
  • Typically, a lower rate than conventional loans  
  • Only borrow what you need
  • Easy access to funds online or via check 
  • Funds can be paid back and borrowed again

All HELOCs begin with a set draw period, during which you can make advances, or only pay interest on what you use. Following the draw period, your HELOC will go into a repayment period, with principal and interest payments due per the terms you choose. 

Bangor Savings Bank offers HELOCs with both fixed rates and variable rates of interest. We are happy to work with you to determine which type of Line of Credit would work best for you. 

Schedule an appointment at a location near you.

Our team is happy to assist when and how it is convenient for you. 

Schedule an Appointment

Questions?

For additional information, email us at lending@bangor.com, or call 1.877.Bangor1 (1.877.226.4671)

Apply Online

Rates and Disclosures