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Home Equity Line of Credit Interest Rates

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Home Equity Line of Credit1

Rate
Loan-to-Value (LTV) RatioLine AmountVariable Rate
With Auto Pay from North Shore Bank checking account
0%-80%$25,000 - $400,0006.49% APR
(Prime minus 0.26%)
0%-80%$6,500 - $24,9997.25% APR
(Prime plus 0.50%)
0%-70%>$400,0006.49% APR
(Prime minus 0.26%)
Closing CostsAppraisal and title fees waived for new lines up to $250,000 on single-family residences (5 acres or less), condos, and owner-occupied duplexes. If an appraisal is required, costs range from $500 - $1,300 based on property details.
Annual Fee$60, waived the first year. After the first year, the annual fee is waived with a $10,000 average line balance or conversion loan balance with auto pay from a North Shore Bank checking account. 
Fixed Rate Loan Conversion Option2

1- to 5-year fixed rates with maximum amortization terms up to 20 years for second lien HELOC using the mortgage refinance conversion loan option.

3- or 5-year fixed rates with maximum amortization terms up to 30 years; or a fully amortized 10-year fixed rate for first lien HELOC using the mortgage refinance conversion loan option.

$50 fee per conversion loan, waived on first conversion loan request.

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1) The HELOC is a variable rate loan. Rates are subject to change daily. Closing costs are waived for new lines up to $250,000 on single family residences (5 acres or less), condos and owner-occupied duplexes. Your HELOC rate may vary based on: the amount of your credit limit, and whether your monthly HELOC payments are automatically debited from a North Shore Bank checking account. Paying the minimum interest only monthly payments will not repay the principal that is outstanding on your line; you will be required to pay the entire outstanding balance in a single payment (balloon payment) at the end of the initial loan term, at the end of any extensions or renewals granted, or when you terminate the line. The maximum rate (ceiling) is 19.90% APR (annual percentage rate) and the minimum rate (floor) is 4.00% APR. Property insurance is required; flood and/or title insurance required if applicable on property. Product available on qualified owner-occupied properties in North Shore Bank’s lending area. Subject to credit qualifications, current property value and loan approval. If HELOC is closed within 36 months of origination, there is a prepayment fee of $350 ($200 for HELOCs less than $17,500). Consult a tax advisor regarding interest tax deductibility.


For a new HELOC, the maximum Loan-to-Value (LTV) is 80% up to $400,000 in total liens in first or second position. For loan amounts over $400,000, the maximum LTV is dependent on lien position. Contact a lender for details.


The Prime rate is the Wall Street Journal U.S. Prime Rate. 

2) Conversion loans are only available through your HELOC Loan Conversion Option. Fixed rates can be locked at the time of scheduling your line of credit loan closing. Rates and terms vary based on your HELOC LTV and whether the HELOC is a first or second lien. Maximum of three conversion loans active at one time. Selecting an amortization schedule longer than your conversion loan term will result in a balloon payment of the entire outstanding conversion loan balance due in full at the end of your selected conversion loan term.

Fixed-Rate Conversion Loans

You can convert the balance of your HELOC and lock it into a fixed rate for a specific length of time. Your HELOC remains open for future use, and you have a regular monthly payment plan for the conversion loan, like you would with any typical fixed-rate/term loan.

First Position

Fixed Rate TermAPRMonthly payment per $1,000 conversion loanBalloon payment per $1,000 conversion loan
120 months5.99%$11.10N/A
3-Year Balloon5.75%$9.63$810.41
5-Year Balloon6.125%$9.82$669.93
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Rates shown are accurate as of 3/23/26. HELOC must be in the first lien position with an auto-payment from a North Shore Bank deposit account to qualify for the advertised annual percentage rate (APR). Sample monthly payment assumes a $30,000 conversion loan with a fixed rate term using a 144-month amortization (except for the 10-year term which is fully amortized) and will result in a lump sum payment at the end of the fixed rate loan term (balloon payment). More loan terms and amortization options are available. No charge for the first conversion loan, thereafter $50 per conversion. Minimum conversion loan is $5,000; additional restrictions apply, see a branch for details. 

Second Position

Fixed Rate TermAPRMonthly payment per $1,000 conversion loanBalloon payment per $1,000 conversion loan
3-Year5.99%$9.75$812.84
3-Year6.25%$9.89$745.46
5-Year6.375%$9.95$673.33
7 ½-Year6.625%$10.08$470.39
10-Year6.75%$10.15$227.50
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Rates shown are accurate as of 3/23/26. HELOC must be in the secondary lien position with an auto-payment from a North Shore Bank deposit account to qualify for the advertised annual percentage rate (APR). Sample monthly payment assumes a $30,000 conversion loan with a fixed rate term using a 144-month amortization and will result in a lump sum payment at the end of the fixed rate term (balloon payment). More loan terms and amortization options are available, contact a branch for details. No charge for the first conversion loan, thereafter $50 per conversion. Minimum conversion loan is $5,000; additional restrictions apply, see a branch for details.

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FAQs

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

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

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.

Home Equity Line of Credit (HELOC)
The monthly payment due is interest only.                                                                                                   

RV, Boat, Camper or Auto Loan
Your billing statement amount due may be less than your contractual amount because of past additional payments you have made. Your loan allows you the ability to pay your account ahead without a penalty. 

For more details on how your payment is applied please contact Customer Support at 877-672-2265.

Mortgage Loan
Please contact Customer Support at 877-672-2265.