Home Equity

Rates are effective as of 12/18/2023.

Fixed Rate Home Equity Loans (80% CLTV)

Product/TermsAPR*Payment Per $1,000 Borrowed
5 year fixed rate 6.625%$19.62 (60 mo.)
10 year fixed rate6.750%$11.48 (120 mo.)
15 year fixed rate7.000%$ 8.99 (180 mo.)
20 year fixed rate7.250%$7.90 (240 mo.)

Fixed-Rate Home Equity Loan

  • *Annual Percentage Rate. Payments do not include amounts for tax and insurance premiums, if applicable, and the actual payment obligation may be greater.
  • Borrow up to 80% of the equity in your home. Minimum loan amount $10,000.
  • Available on 1–4 family owner occupied properties
  • Property and casualty insurance required. Flood insurance required if property in flood zone
  • Before applying, please review your eligibility for membership (must live, work or attend school in Hampden, Hampshire, Franklin or Berkshire counties in Massachusetts, and Hartford or Tolland counties in Connecticut, or have a family member with an active membership.) Membership requires a $5 deposit into a Share Savings Account and does not guarantee that you will qualify for a loan.

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Fixed Rate Home Equity Loans (100% CLTV)

Product/TermsAPR*Payment Per $1,000 Borrowed
5 year fixed rate7.625%$20.10 (60 mo.)
10 year fixed rate7.750%$12.00 (120 mo.)
15 year fixed rate8.000%$9.56 (180 mo.)
20 year fixed rate8.250%$8.52 (240 mo.)

Fixed-Rate Home Equity Loan

  • *Annual Percentage Rate. Payments do not include amounts for tax and insurance premiums, if applicable, and the actual payment obligation may be greater.
  • Borrow between 80.01% – 100% of the equity in your home. Minimum loan amount $10,000.
  • Available on 1–2 family owner-occupied properties.
  • Property and casualty insurance required. Flood insurance required if property in flood zone
  • Before applying, please review your eligibility for membership (must live, work or attend school in Hampden, Hampshire, Franklin or Berkshire counties in Massachusetts, and Hartford or Tolland counties in Connecticut, or have a family member with an active membership.) Membership requires a $5 deposit into a Share Savings Account and does not guarantee that you will qualify for a loan.

Apply Now

Home Equity Line of Credit (80% CLTV)

Product/TermsAPR*Amortization Type / Term
Special Introductory Rate6.99%Fixed** / 12-month

*Annual Percentage Rate. Payments do not include amounts for tax and insurance premiums, if applicable, and the actual payment obligation may be greater.

**Special Introductory Rate fixed for the first 12 months, then becomes a variable rate with a maximum potential rate of 15%. The rate is based on Prime Rate as published in the Wall Street Journal on the first business day of each month MINUS 0.50%, not to go below 3% (floor rate). The current Prime Rate is 8.50%.

Home Equity Line of Credit (variable rate)

  • Borrow up to 80% of the equity in your home. Minimum loan amount $10,000.
  • Available on 1–4 family owner occupied properties
  • Property and casualty insurance required. Flood insurance required if property in flood zone
  • 10 Year Draw Period, 10 Year Repayment Period.
  • Before applying, please review your eligibility for membership (must live, work or attend school in Hampden, Hampshire, Franklin or Berkshire counties in Massachusetts, and Hartford or Tolland counties in Connecticut, or have a family member with an active membership.) Membership requires a $5 deposit into a Share Savings Account and does not guarantee that you will qualify for a loan.

Apply Now

Home Equity Line of Credit (100% CLTV)

Product/TermsAPR*Amortization Type / Term
Special Introductory Rate7.99%Fixed** / 12-month

*Annual Percentage Rate. Payments do not include amounts for tax and insurance premiums, if applicable, and the actual payment obligation may be greater.

**Special Introductory Rate fixed for the first 12 months, then becomes a variable rate with a maximum potential rate of 15%. The rate is based on Prime Rate as published in the Wall Street Journal on the first business day of each month PLUS 0.50%, not to go below 4% (floor rate). The current Prime Rate is 8.50%.

Home Equity Line of Credit (variable rate)

  • Borrow between to 80.01% – 100% of the equity in your home. Minimum loan amount $10,000.
  • Available on 1–2 family owner-occupied properties.
  • Property and casualty insurance required. Flood insurance required if property in flood zone.
  • 10 Year Draw Period, 10 Year Repayment Period.
  • Before applying, please review your eligibility for membership (must live, work or attend school in Hampden, Hampshire, Franklin or Berkshire counties in Massachusetts, and Hartford or Tolland counties in Connecticut, or have a family member with an active membership.) Membership requires a $5 deposit into a Share Savings Account and does not guarantee that you will qualify for a loan.

Apply Now

For additional information, please call 413-739-6961 or email mortgage@freedom.coop