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For most homeowners, over time your home’s equity has increased. With a North Shore Bank Home Equity Line of Credit or HELOC, you choose how you to put your home’s equity to use. Ready to tackle that home improvement project or buy a new vehicle or boat? Whether you use it to make a large purchase or as a source of funds in case of emergency, you’ll find that a Home Equity Line of Credit provides you flexibility in accessing your funds while giving you options for affordable payments.

North Shore Bank’s offers you competitive HELOC rates and the ability to access up to 80% of your home’s value. To use your line of credit, you can easily transfer funds anytime within Online Banking to your North Shore Bank checking account.

Flexibility When you Need It

Our HELOC products also offer a range of flexible options for how pay down your balance. Like a credit card but without all the additional hidden fees, HELOC customers can choose to make the minimum payment, set a regular payment amount that fits their budget, or pay the balance in full.

You can always make interest-only payments, too. While this helps keep your monthly expenses lower and cash flow higher, it’s important to keep in mind paying interest only will leave you a balance when your HELOC term ends. Our dedicated team at The Bank of You is always happy to help HELOC customers determine whether it makes sense to convert some or all of an existing HELOC to a fixed rate loan through what is commonly referred to as a conversion loan.

HELOC Conversion Loans - Lock in Low Rate and Fix Your Payment

You can convert the balance of your HELOC and lock it into a fixed rate for a specific length of time such as 5 or 10 years. In choosing this option, your HELOC remains open for future use. You have a regular monthly payment plan for the conversion loan, like you would with any typical fixed rate/term loan.

An important difference with conversion loans is that each time a payment is made on the fixed rate loan, available credit is regained on the HELOC. For example:
  • You have a $100,000 HELOC and you spend $60,000 of it
  • You decide to convert the $60,000 to a fixed rate loan
  •  You now have $40,000 remaining on your HELOC to use as you choose and a fixed rate loan of $60,000
  • If you make a $1,000 payment toward the fixed rate loan, you’d then have $41,000 available credit on the HELOC
 

Let us help.

A Home Equity Line of Credit may be the perfect fit so talk with a North Shore Bank lender to help determine the best option for you. Apply online, schedule an appointment, or stop by your nearby branch to learn more.
Frequently Asked Questions

Home ownership is full of unscheduled expenses. There’s no landlord to shoulder the costs when your roof leaks or the furnace needs immediate replacement. A home equity line of credit (HELOC) lets you budget for these challenges.

If offers:

  • Instant buying power, no questions asked 
  • Easy access with funds transferred directly to your North Shore Bank checking account
  • Can provide lower interest rates than credit cards 

With home based loans you will still need to receive a pay off request and will not be able to use our online loan payment service to pay off your Home Equity Loan or Mortgage Loan.


The rate for your Home Equity Line of Credit is based on the prime rate plus an established margin determined by your individual line of credit. The rate on your line of credit changes on the 1st day of the second month following any prime rate change. If your line of credit was opened prior to Jan. 1, 2006, it is based on the prime rate published in the Wall Street Journal Money Rates section on the third Tuesday of the month. If your line of credit was opened on or after Jan. 1, 2006, the rate on your line of credit will change when the prime rate changes in the Wall Street Journal.


If you would like to apply for a loan to refinance your current home equity line of credit, please complete an online application or call an office near you.

Loans and Home Equity Lines of Credit


North Shore Bank does offer home equity lines of credit for our customers to buy vehicles, consolidate bills, or pay off other debts. The first step is to apply online or call one of our Personal Bankers at an office near you.

Loans and Home Equity Lines of Credit


An appraisal fee may be necessary, depending on the value and equity of the home.

Loans and Home Equity Lines of Credit


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Contact us with additional questions: Email | 877-672-2265
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