Using the equity in your home to borrow has many advantages. Home equity financing is one of the least expensive ways for a homeowner to borrow money. You can use a home equity line of credit to pay off higher rate credit cards or home equity loans, make home improvements, or pay for college education. Unlike other loans, you can use the proceeds for almost any purpose. In many instances, interest payments are fully deductible on your federal tax return for home equity loans up to $100,000. (You should consult with your tax advisor as to how this may affect you.)

Cambridgeport Bank's Home Equity loans are straightforward. We offer three types of home equity options on owner-occupied properties: lines of credit, fixed rate loans and adjustable rate loans.

Select the product that best fits your financial needs:

Our Home Equity Line of Credit is very flexible and easy to use with credit lines available up to $250,000. You borrow money, up to your available credit, by writing a special Home Equity check for at least $500

Our Fixed Rate Home Equity Loan offers you a fixed rate over the life of the loan, which means your payments remain the same. It's perfect if there is a one time need for money up to $250,000.

Our Adustable Rate Home Equity Loan offers an initial rate that is usually lower than a fixed rate loan. This loan is a good option for homeowners with a one time need for money up to $250,000.

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