Access equity where you live with a Northampton Cooperative Bank home equity loan.
A Northampton Cooperative Bank home equity loan or home equity line of credit is a way to put available equity in your home to work for you. These loans can help to finance major home repairs or renovation, medical bills or a college education. Plus, you may be able to deduct your home equity loan interest on your personal income tax returns.
Great rates and local decisions.
When you apply for a home equity loan or line of credit at Northampton Cooperative Bank, you'll receive personal attention - and rapid response. We understand the local market, and make decisions right here, so we're able to provide fast answers, along with competitive, affordable rates.
What's the difference between a home equity loan and line of credit?
A home equity loan is a one-time, lump-sum loan, often with a fixed interest rate. A home equity line of credit is a line of revolving credit with an adjustable interest rate. Both are usually referred to as second mortgages, because they are secured against the value of your property, just like a traditional mortgage. They create a lien against your house, and reduce your actual home equity.
Will a home equity loan or line work for you?
Most home equity loans require good to excellent credit history, and reasonable loan-to-value and combined loan-to-value ratios. Find out how a Northampton Cooperative Bank Home Equity Loan can work for you: call our Loan Department at 413-584-4474, stop in to any of our locations in Northampton, Amherst or Florence, or contact us.