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Home Equity

Home Equity Loans and Lines of Credit

Seaboard Federal Credit Union is pleased to offer Fixed-Rate and Term Home Equity Loans, and Variable-Rate Home Equity Lines of Credit. These loans may be used for home improvement, or for any other purpose. We are proud to offer local decisions and servicing on these loans.

These loans will be secured by a mortgage on your primary residence. Check with your accountant to determine tax-deductibility. Stick-built homes, as well as manufactured homes on your land, qualify for these programs. The property must be located in Maine to qualify.

Fixed Rate and Term Home Equity Loans

  • 5 Year, 10 Year, and 15 Year terms are available.
  • Fixed Rate of Interest.
  • We will finance up to 90% of the home's value, less the balance on your first-mortgage loan (if any).

Click for Home Equity Loan Rates
Contact Seaboard today for more information on applying for a mortgage.

Home Equity Line of Credit

  • 15 Year Term.
  • You may draw on the line of credit for the first 5 years of the term.
  • Variable rate of interest.
  • We will finance up to 90% of the home’s value, less the balance on your first-mortgage loan (if any).
  • Flexible — only draw what you need. Interest is calculated on the outstanding balance.

Click for Home Equity Line of Credit Rates
Contact Seaboard today for more information on applying for a mortgage.



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