Home Equity Line & Loan Rates

You've put a lot of hard work into your home. And because of that, you've accumulated equity in your investment.

Why not put that equity to work for you to help finance additional home improvements, pay off high interest debt, or provide yourself with an emergency source of funds should a need arise?

Questions? Call us at 413.568.1911 or 800.995.5734, visit one of our convenient offices, or apply online.

Rates are accurate as of October 15th, 2021. All rates are subject to change without notice.
Westfield Bank NMLS ID 439933


Home Equity Line of Credit Special | 10 Year Draw | 80% CLTV

HELOC Special Annual Percentage Rate (APR) Apply
• Introductory fixed rate for the first 3 months; variable rate thereafter 1.993% (First 3 Months) Apply Now
• 10 year draw period, 15 year repayment period Prime + 0% (After 3 Months)
• 1st & 2nd Lien
• CLTV ≤ 80%
• Requires monthly payments to be automatically deducted from a Westfield Bank Checking Account.

The minimum loan amount is $10,000. A borrower paid appraisal is required if loan request is greater than or equal to $400,000.

The index is Prime Rate as published in the Wall Street Journal, currently 3.250% and can change monthly after remaining fixed for 1 day. An increase in the interest rate will result in a higher monthly payment. After the 3 month introductory period, the APR will be Prime Rate with a minimum APR of 3.25%. The maximum APR is 18%.

The Home Equity Line of Credit is subject to an early termination fee of $550.00 if prepaid in full and closed within 24 months.

The 10 year draw period is interest only and the remaining 15 year repayment period will be the principal balance remaining at the end of the draw period amortized over the 15 year term, plus interest.



Home Equity Line of Credit Special | 15 Year Draw | 85% CLTV

HELOC Special Annual Percentage Rate (APR) Apply
• Introductory fixed rate for the first 3 months; variable rate thereafter

1.993% (First 3 Months) Apply Now
• 15 year draw period, 15 year repayment period Prime + 0.50% (After 3 Months)
• 1st & 2nd Lien
• CLTV > 80% to 85%
  • This product requires monthly payments to be automatically deducted from a Westfield Bank Checking Account

The minimum loan amount is $10,000; the maximum loan amount is $50,000. A borrower paid appraisal is required.

The index is Prime Rate as published in the Wall Street Journal, currently 3.250% plus a margin of 0.500% and can change monthly after remaining fixed for 1 day. An increase in the interest rate will result in a higher monthly payment. After the 3 month introductory period, the APR will be Prime Rate plus a margin of 0.500% with a minimum APR of 3.750%. The maximum APR is 18%.

The Home Equity Line of Credit is subject to an early termination fee of $550.00 if prepaid in full and closed within 24 months.

The 15 year draw period is interest only and the remaining 15 year repayment period will be the principal balance remaining at the end of the draw period amortized over the 15 year term, plus interest.

Home Equity Loan (First Lien) | 80% CLTV

Term Interest Rate1 Annual Percentage Rate (APR) Payment per $1,0002 Apply
5 Years 3.000% 3.016% $17.97 Apply Now
10 Years 3.250% 3.258% $9.77 Apply Now
15 Years 3.500% 3.506% $7.14 Apply Now
20 Years 3.750% 3.755% $5.92 Apply Now

Home Equity Loan (Second, Subordinate, Junior Liens) | 80% CLTV

Term Interest Rate1 Annual Percentage Rate (APR) Payment per $1,0002 Apply
5 Years 4.000% 4.016% $18.42 Apply Now
10 Years 4.250% 4.258% $10.24 Apply Now
15 Years 4.500% 4.506% $7.64 Apply Now

Home Equity Loan (Second, Subordinate, Junior Liens) | > 80% to 85% CLTV

Term Interest Rate1 Annual Percentage Rate (APR) Payment per $1,0002 Apply
5 Years 5.000% 5.802% $18.87 Apply Now
10 Years 5.250% 5.293% $10.72 Apply Now
15 Years 5.500% 5.531% $8.17 Apply Now

The minimum Home Equity Loan amount is $5,000. An appraisal is required for loans less than or equal to 80% CLTV if loan request is greater than or equal to $400,000. For loans greater than 80% to 85% CLTV, the maximum loan amount is $50,000 and a borrower paid appraisal is required.

1 Interest rate reflects a 0.25 discount as long as you maintain an automatic payment withdrawal from a new or existing Westfield Bank checking account. The account must be opened prior to the settlement of your loan.

2 The monthly payment does not include taxes and insurance. Your actual payment may be greater.

General Disclosures Applicable to All Home Equity Loans and Lines

Home Equity Loan and Home Equity Line of Credit products are available for one to four unit owner occupied primary residences including condominiums. Homeowners insurance is required on the property securing the loan.

Subject to individuals residing or working in Massachusetts, Connecticut.

Rates are subject to change without notice.
CLTV = Combined Loan to Value. These program descriptions are not an offer to extend credit.The extension of credit is dependent upon your credit history, combined loan-to-value ratio, and other factors.
You must pay certain third party fees for loans greater than or equal to $250,000. These fees total between $0.00 and $2,457.00. If you ask, we will give you an itemization of the fees that you will have to pay third parties.