Home Equity Loans
- Home Equity Loan amounts from $10,000 to $500,000 in CT, NJ and RI (call for loans > $500,000) and $10,000 to $750,000 in MA and NY
- For loan amounts less than or equal to $250,000, Combined Loan-to-Value (CLTV) up to 80% in CT, NJ, RI, MA and NY
- For MA and NY only, loan amounts up to $750,000 with a Combined Loan-to-Value (CLTV) up to 75%. For CT, NJ and RI, loan amounts up to $500,000 with a Combined Loan-to-Value (CLTV) up to 80%.
- Home Equity Loans are available where Property State is CT, NJ, MA, NY, and RI
- 1-4 Family owner-occupied residences and 1-unit second homes
- Investment properties available at higher rates. CLTV restrictions may apply
- Properties currently listed for sale are ineligible, however may be eligible for a Bridge Line of Credit.
Current interest rate option
Displayed “As low as” interest rate assumes a loan amount of $50,000, a 5-year term, a credit score of 740 or greater and a Combined Loan-to-Value (CLTV) of 80% or less and includes the following discounts:
- 0.25% interest rate discount = Automatic Loan Payments (ALPA) are set up from a Webster Personal Checking account
- 0.25% interest rate discount = Private Checking Account relationship.*
- 0.25% interest rate discount = First lien position
Customers may qualify for additional discounts (U.S. Military, etc.) See a Webster banker for more details.
Appraisal: An appraisal will be required to assess the value of the home. This value will represent the full value of the home that Webster will use for calculating the Combined Loan-to-Value (CLTV) amount, which will impact the rates and lending options available.
Restrictions: Home Equity Loans are available in CT, NJ, MA, RI, and, NY, with a minimum of $10,000 and maximum of $500,000 in CT, NJ and RI, and maximum of $750,000 in MA and NY. No closing costs for home equity loans up to $500,000 that are secured by 1-4 family, owner-occupied residences. There are no fees or costs retained by Webster Bank, but for certain loans a Structural Engineering Assessment Report or Transfer Tax may be required and the borrower would be required to pay for this as part of the loan process. Hazard insurance is required. Flood insurance is required, if applicable.
Loan amounts over $250,000 may be subject to asset verification. This offer is valid on 1-4 family owner-occupied, second home, or investment properties. This offer is not valid on co-ops.
Other Rates: Rates are determined based on credit qualifications and other factors, such as loan amount, Combined Loan to Value (CLTV), and Webster relationship. Minimum loan amount of $10,000. The APR you will receive is dependent on a variety of factors including household income, debts, and other underwriting criteria.
All loans and lines of credit are subject to credit approval.
*Private Checking. Minimum opening deposit of $25 is required. You can avoid the $30 monthly maintenance fee by keeping $25,000 in checking or $50,000 combined deposit balances, including CD’s, OR $100,000 in investment balances (Please note: it can take 14 days for balances of new or previously unlinked LPL accounts to be included). Private Checking earns interest and is a tiered rate product. The APY (Annual Percentage Yield) for Private Checking as of 7/31/2023 on balances between $0 and $49,999 is 0.01%, balances between $50,000-$99,000 is 0.01%, balances between $100,000-$249,000 is 0.01%, balances between $250,000-$499,999 is 0.01%, balances $500,000 or greater is 0.01%. The APY is subject to change at any time. Fees may reduce earnings.