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Home Equity / HELOC

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Home Equity Loans

Financial flexibility is key to financial success. City of Boston Credit Union helps you access home equity funds for college tuition, home improvements, vacations, loan consolidation, and more.


Fixed-Rate Home Equity Loans

City of Boston Credit Union offers fixed-rate equity loans up to $250,000 for a maximum of twenty years. The aggregate amount of your first mortgage and equity loan may not exceed 80% Combined Loan To Value (CLTV). This option works well for the Member who wants a fixed payment amount and a one-time disbursement of funds.

Appointments are necessary when applying for Home Mortgages or Home Equity Loans, however, you may pick up an application package anytime at any branch location. When you are ready to submit your application and appropriate materials please contact your nearest branch location to schedule your appointment.


Home Equity Line of Credit (HELOC)

City of Boston Credit Union offers a Home Equity Line of Credit that is a revolving line of credit with a variable interest rate, $250,000 maximum 5-year draw period, and additional 10-year payback at Prime Rate of Interest. The aggregate amount of your first mortgage and equity loan may not exceed 80% Combined Loan To Value (CLTV).

Appointments are necessary when applying for Home Mortgages or Home Equity Loans, however, you may pick up an application package anytime at any branch location. When you are ready to submit your application and appropriate materials please contact your nearest branch location to schedule your appointment.

“Four years ago, we bought a house in our dream neighborhood. It was a little small but, thanks to a home improvement loan from City of Boston Credit Union, we were able to add on and stay right here in a place that we love.”
Paul, Member since 2003


Apply Online

Members can easily submit their application for a Home Equity loan through our secure online portal.  If you have any questions about applying online please contact a Mortgage Specialist at (617) 741-8784 or email mortgages@cityofbostoncu.com.  Submit your application by clicking here.


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