Home Equity Lines of Credit and Loans at Partners Bank

Homeowners in New Hampshire, Maine, and select Massachusetts counties have a straightforward way to access the equity they've built: through a home equity loan or line of credit from Partners Bank. Whether you're planning a renovation, covering tuition, consolidating debt, or financing a major purchase, Partners Bank offers home equity loans and lines of credit, with local decision-making, processing, and servicing.

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Get Started with a Home Equity Loan or Line of Credit

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YOUR OPTIONS

Home Equity Options from Partners Bank

Partners Bank offers two ways to borrow against the equity in your home. The right choice depends on how you want to access funds and what kind of payment structure works best for you.

Home Equity Line of Credit (HELOC)

A Partners Bank HELOC gives you flexible, revolving access to your home's equity without requiring a new credit application each time you draw. It's a strong option if you want to keep your existing mortgage rate intact and access cash for renovations or other needs on your own timeline.

During the first 10 years (the draw period), you make interest-only payments on the amount you use. After that, a 15-year repayment period begins, during which you pay back the remaining principal and interest.

Available for properties in Maine, New Hampshire, and select Massachusetts counties (Essex, Middlesex, Suffolk, and Worcester). Investment properties are not eligible.

Note: A $400 prepayment fee applies only if the line is paid off and closed within the first 36 months. Paying the balance to zero while keeping the account open does not trigger this fee.

  • Competitive variable rate (Prime + 0% for primary homes)
  • Interest-only payments for the first 10 years
  • 15-year repayment period after draw period
  • Access funds via check, online transfer, or linked debit card
  • Available for primary and second home residences
  • No new credit application required for future advances

Fixed Rate Home Equity Loan

A Partners Bank Fixed Rate Home Equity Loan provides a lump sum at a rate that never changes, with terms of 10, 15, or 20 years. It's a good fit if you have a specific project or expense in mind and want predictable payments for the life of the loan.

Available for properties in Maine, New Hampshire, and select Massachusetts counties (Essex, Middlesex, Suffolk, and Worcester). Investment properties are not eligible.

  • Fixed interest rate for the full loan term
  • Available terms: 10, 15, or 20 years
  • Consistent monthly payment, principal and interest
  • No prepayment penalty
  • Available for primary and second home residences

RATES

Current Rates

Contact a mortgage consultant to hear our current rates

LOCAL EXPERTISE

Talk to a Partners Bank Mortgage Loan Consultant

Every borrower's situation is different. Partners Bank's mortgage consultants take the time to understand your goals and help you choose the option that makes the most sense for you. Local decision-making means you're working with someone who knows the New Hampshire and Maine markets, not an impersonal call center.

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QUESTIONS

Frequently Asked Questions

A home equity loan provides a one-time lump sum at a fixed rate with consistent monthly payments. A HELOC is a revolving line of credit with a variable rate. You draw only what you need, when you need it, and make interest-only payments during the first 10 years.

No. During the first 10 years, you're only required to make interest-only payments on what you've drawn. You can choose to pay down principal to replenish your available credit, but it's not required. After 10 years, the 15-year repayment period begins.

A $400 fee applies only if you pay off the balance and close the account within the first 36 months. You can pay your balance to zero and keep the line open without triggering this fee.

No. You can pay off a Partners Bank Fixed Rate Home Equity Loan at any time without a prepayment penalty.

Yes. Both products can be used for a range of needs including college tuition, vehicle purchases, debt consolidation, and other significant expenses.

Both products are available for primary residences and second homes in Maine, New Hampshire, and select Massachusetts counties (Essex, Middlesex, Suffolk, and Worcester). Investment properties are not eligible.

Both products are liens on your property. When you sell, the outstanding balance must be paid off in full from the sale proceeds before you receive your remaining equity.