You've worked hard to increase the value of your home. Now make your home work hard for you. We'll help you access money you need for anything you have in mind.
Tap into affordable financing through a loan or HELOC.
Access money as a loan or line of credit
Start a home remodeling project
Consolidate higher-interest debt
Pay interest only on the funds you use
Your home's equity can make it possible
Maybe you want a new kitchen. Or you're ready to become debt-free by paying off high-interest loans or credit cards. Or maybe you're planning the wedding of your dreams or a memorable vacation. For anything you want to do, a Home Equity Loan or Line of Credit from Ives Bank can kick-start your plans.
Home Equity Loan and HELOC Overview
- Choose from fixed or variable* rates to suit your budget
- Access available funds whenever you need them
Prime Minus 0.50% Special**
With this special deal, you'll always pay below Prime Rate for the full term of your loan.
- Competitive rates
- No application fee
- No closing costs for loans up to $250,000
- Local decision-making
- Attentive, personal service
Credit cards that put you in charge
Pay down balances faster, maximize cash back, earn rewards or begin building your credit history.
Home Equity Quick Tips
See if a home equity loan can help you save on interest or consolidate debt.
Disclaimer
*Variable rate HELOC will adjust monthly, according to movements in the Prime Rate as published in the Wall Street Journal. All loans subject to credit approval.
**The Annual Percentage Rate (APR) will always be Prime minus 0.50% for the life of the loan; however, the APR can never go below the minimum of 4.00%. As of September 18, 2024, the APR is 7.50% based on the current Prime Rate of 8.00% as published in the Wall Street Journal; this rate may vary monthly. There is a maximum APR of 15.00%. Minimum line is $10,000. A prepayment penalty of $500 will be imposed for accounts closed within the first 24 months. The Home Equity Line of Credit will have a draw period of 9 years and 10 months followed by a repayment period of 15 years, during which no time advances can be made. Property insurance is required. Combined maximum loan to value is 80%, 70% for condos. Lines above $250,000 require 75% combined loan to value and a Property Appraisal. Cost of Property Appraisals range from $350 - $750 depending on the value of the home. Available to owner-occupied, single or two family properties in the state of Connecticut. Annual membership fee of $50 applies after the first year. Restrictions may apply. Subject to credit approval. Offer may be withdrawn at any time. Other terms and conditions may apply. Flood Insurance may be required. Condos are subject to qualification review. If you pay interest only, you still owe the amounts drawn and your monthly payment will increase when the interest-only period ends. Consult your tax advisor regarding the deductibility of interest.