Home Equity Line of Credit

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Turn to our home equity line of credit (HELOC) for large expenses and projects.

Whether you’re looking to consolidate your debt, begin a home improvement or renovation project, finance a major expense, or take a dream vacation, a Home Equity Line of Credit from BankFive can help. Using the equity in your Massachusetts or Rhode Island home can be a great way to get the funds you need to turn your dreams into realities.

A home equity line of credit can provide financial flexibility.

Funds available as a revolving credit line, similar to a credit card
Draw on the funds for up to 10 years
Pay interest only on the funds you use
Ideal for large expenses or to consolidate debt at a lower interest rate
Amount of equity available is based on the value of your house
Loan amounts up to $500,000 on primary residences and $250,000 on second homes
$75 annual fee
View HELOC rates here

No matter what you're looking to do with your home's equity, BankFive is ready to help. Apply for a MA HELOC or a RI HELOC online, or contact one of our expert mortgage loan officers to learn more about our home equity lines of credit.

Home Equity Loans also available.

Homeowner Resources

Mar 13

Hailee in Dartmouth was absolutely fantastic to work with. She had mentioned how my upcoming HELOC was coming up and asked if I had plans for renewing it. She made the process very simple.

Georgette

Dec 31

Monica Botelho has made miracles happen for me! She assisted me in obtaining a mortgage for my land and with a HELOC. She is knowledgeable and efficient! I am super grateful for all she has done it’s been a pleasure working with her over the years!

Bianca Cicilline

Oct 14

Finally a competent, professional team to work with on my HELOC!

Mark Knapp

Oct 01

They listened my needs. They were very professional and patient. Also very respectful.

James Dormon

Aug 31

I enjoyed working with Hailee Cabral completing the closing of my HELOC. She was very professional and informative. She explained everything and answered all my questions pertaining to my needs. I would recommend her and Bank Five to all my family and friends for their financial needs.

Susan

Aug 20

Wonderful experience. Lisa Celio went out of her way to assist us through the entire process of applying for a new HELOC from beginning to the very end!

Elix Cintron

Aug 08

Came in to Bank Five in Dartmouth to apply for a Heloc. AJ & Hailee were an absolute pleasure to work with when it came to assisting me with my application in a timely manner. Would definitely recommend visiting the Dartmouth branch!!

Susan

Jul 29

The loan office did an excellent job with service and understanding of the loan to us.

Glenn

Jul 13

Always greeted with a smile and very pleasant, and helpful....

Roger and CHARLOTTE ASSAD

Apr 17

Every person I worked with was efficient, professional and made me feel at ease

Madeleine

Apr 03

Bank5 has been awesome to deal with. Ive gone through Bank5 twice now for a loan and during the whole process I recieved polite, professional and responsive service. Michelle at Bank5 got back to my every email and answered all my questions in a timely manner. Thanks Michelle! Everyone else I was in contact with at Bank5 showed the same level of professionalism and courtesy. I would definitely recommend Bank5. Thanks!

Eric Benson

Mar 26

Lumenia is the best. She is so professional and does everything you need. Love her

Ary Aburaya

Jul 25

The process from inquiry to application to completion was easy. Communication was clear and effective and they answered all our questions promptly and accurately.

Geary

Jun 19

Great Team to work with!!

Luis

Mar 21

Everything was easy from uploading our documents to our personal portal to meeting in New Bedford to close.

Joshua

Feb 08

Everyone was quick to respond and a pleasure to work with

Cynthia

Feb 21

I needed money from my HELOC very quickly and both Ashley and Stanford in the Fall River branch were able to help me and get me the funds in time. Stanford followed up to ensure I was taken care of and gave me his information for any future problems.

Daniel

Feb 21

Took out a credit line and Ismael Tavares was very informative and friendly it was an absolute pleasure working with him I highly recommend Ismael Tavares at Bank5 on Acushnet Avenue in New Bedford

Antonio Flor

Oct 18

It was very nice talking to someone who can help and answer a critical question like mine, even though it was not her department the person I spoke with was able to get the answer quick. Thank you

Abed

Aug 10

I just worked with Bank5 to open a home equity line of credit. I found their process to be easy on my end and the highly competent staff I worked with moved the process along and kept me informed of every step. The online portal was especially helpful for reviewing and signing required documents. I would not hesitate to recommend Bank5 if you are looking for a loan.

Susan