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Home Equity Loans & Lines of Credit

Make use of your home’s value.

Use the equity in your home. You’ve earned it.

The equity you have in your home is the difference between your property’s value and what’s left on your mortgage. A home equity loan or line of credit can be a smart way to use your home’s value to pay for renovations, consolidate debt, make energy upgrades, or cover other significant expenses.

Benefits

Calendar

Flexible terms

Repayment periods up to 15 years.

House

Green options

Our Energy Equity Loan can cover the costs of energy efficiency upgrades in your home.

Dollar Bills

Tax deductible

Check with your tax advisor to determine if this is a tax deductible option for you.

Your options at a glance

We offer Home Equity Loans, Energy Equity Loans, and Home Equity Lines of Credit. See which option is the best fit for you:

  • Best if: 

    Best if: 

  • Rates & Terms

    Rates & Terms

  • Access to Funds

    Access to Funds

  • Minimum Loan Amount

    Minimum Loan Amount

  • Maximum Loan Amount

    Maximum Loan Amount

  • Maximum Combined Loan to Value

    Maximum Combined Loan to Value

  • Closing Costs

    Closing Costs

Home Equity Loan

  • Best if: 

    You need to make a single, large purchase at a certain price.

  • Rates & Terms

    A fixed interest rate and terms up to 15 years.

  • Access to Funds

    The borrowed amount is paid to you in one lump sum.

  • Minimum Loan Amount

    $5,000

  • Maximum Loan Amount

    $250,000

  • Maximum Combined Loan to Value

    Up to 90%

  • Closing Costs

    Closing costs will be unique to your loan and may include a property appraisal fee. EastRise will cover a portion of other closing costs.

Energy Equity Loan

  • Best if: 

    You’re looking to finance energy improvements of any kind on your primary home.

  • Rates & Terms

    A discounted, fixed interest rate and terms up to 15 years.

  • Access to Funds

    The borrowed funds can be made payable to your contractor.

  • Minimum Loan Amount

    $5,000

  • Maximum Loan Amount

    $250,000

  • Maximum Combined Loan to Value

    Up to 90%

  • Closing Costs

    We work with you to minimize closing costs, making it more affordable.

Home Equity Line of Credit

  • Best if: 

    You aren’t sure of the final price, or if it is a recurring cost.

  • Rates & Terms

    A revolving line of credit with a variable interest rate that will be available to you for up to 15 years.

  • Access to Funds

    You can tap into your line of credit whenever you need the money.

  • Minimum Loan Amount

    $5,000

  • Maximum Loan Amount

    $250,000

  • Maximum Combined Loan to Value

    Up to 90%

  • Closing Costs

    Closing costs will be unique to your loan and may include a property appraisal fee. EastRise will cover a portion of other closing costs.

Get started online

Apply now

 

Current rates

Home Equity Loan

Type

Loan to Value

Term

APR as low as1

Rates effective 12/11/2024

APR = annual percentage rate and reflects the current minimum APR offered.

Type

Fixed rate

Loan to Value

Up to 80%

Term

60 months

APR as low as1

5.99%

Type

Fixed rate

Loan to Value

Up to 80%

Term

120 months

APR as low as1

7.125%

Type

Fixed rate

Loan to Value

Up to 80%

Term

180 months

APR as low as1

7.49%

Type

Fixed rate

Loan to Value

Greater than 80% up to 90%

Term

60 months

APR as low as1

6.99%

Type

Fixed rate

Loan to Value

Greater than 80% up to 90%

Term

120 months

APR as low as1

8.125%

Type

Fixed rate

Loan to Value

Greater than 80% up to 90%

Term

180 months

APR as low as1

8.49%

Energy Equity Loan

Type

Loan to Value

Term

APR as low as1

Rates effective 12/11/2024

APR = annual percentage rate and reflects the current minimum APR offered.

Type

Fixed Rate

Loan to Value

Up to 80%

Term

60 months

APR as low as1

5.74%

Type

Fixed Rate

Loan to Value

Up to 80%

Term

120 months

APR as low as1

6.50%

Type

Fixed Rate

Loan to Value

Up to 80%

Term

180 months

APR as low as1

7.00%

Type

Fixed Rate

Loan to Value

Greater than 80% up to 90%

Term

60 months

APR as low as1

6.74%

Type

Fixed Rate

Loan to Value

Greater than 80% up to 90%

Term

120 months

APR as low as1

7.50%

Type

Fixed Rate

Loan to Value

Greater than 80% up to 90%

Term

180 months

APR as low as1

8.00%

Home Equity Line of Credit

Type

Loan to Value

APR as low as2

Rates effective 12/11/2024

APR = annual percentage rate and reflects the current minimum APR offered.

Type

Monthly adjustable rate

Loan to Value

Up to 80%

APR as low as2

7.25%

Type

Monthly adjustable rate

Loan to Value

Greater than 80% up to 90%

APR as low as2

8.75%

MyChoice Mortgage

Term

APR as low as

Rates effective 12/11/2024

APR = annual percentage rate and reflects the current minimum APR offered. MyChoice Mortgage maximum Loan To Value 85% or less.

Term

1 to 8 years

APR as low as

5.875%

Term

9 years

APR as low as

6%

Term

10 years

APR as low as

6.125%

What is MyChoice Mortgage?

MyChoice Mortgage allows you to craft your very own financing option. You choose the terms of your loan!

Simply select your fixed rate and a term from one to ten years, and get a mortgage that is truly tailored to your individual goals. Plus, the shorter the term, the lower the rate.

MyChoice Mortgage is designed to be quick and easy. In most cases, no appraisal is needed and closing costs are generally limited to $150.

Apply now
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See if your project is eligible for tax credits.

Before committing to a project that may be eligible for the 30% Federal Investment Tax Credit, please consult with your tax advisor to determine your tax credit eligibility. The Federal Investment Tax Credit is not a guaranteed refund. You must qualify for this credit based on your annual tax liability. EastRise does not provide tax advice.

Affordable Chittenden County Apartment

FAQs

Not finding what you’re looking for? See all FAQs or contact us.

Apply today

Submit your application online or chat with one of our home equity experts to decide which Home Equity Loan or Line of Credit is right for you.

Get started
Apply online
Talk to a specialist
Email us

Disclosures

1.
  • APR = annual percentage rate may be adjusted based on individual credit standing and term. Payment Example: $25,000 loan for 60 months at 5.99% APR will have a monthly payment of $482.25.

2.
  • A home equity line of credit is a variable rate loan that may adjust monthly. Rates are as low as 4.50% APR as a floor and a maximum APR of 18.00%. APR may be adjusted based on individual credit standing and term. Members can borrow against the available line of credit for a period of 15 years, after which time the existing balance must be paid in full by making a monthly principal and interest payment in a new 15-year repayment period. Closing costs range from $130 to $1,500 to cover the appraisal fee and title update fee. A late fee of 5% of the payment may be charged for a payment more than 15 days late.