Certified B Corporation
luxurious bedroom with white duvet and lots of pillows on bed and wooden antique furnishings

Turn your home equity into joy equity

A home equity line of credit can be a low cost, low interest way to bring a little joy into your life

How, you might ask?

It's been a long year and, as spring starts to bloom here in Vermont, let us help you find an easy way to bring some joy and happiness into your life. Whether it's a new room for you and your family, a way to get out and about in style, or even making the house you have into the home you want. Whatever your hopes and goals, a home equity line of credit is a great way to get what you want from what you already have.

Beautiful white kitchen with vase of flowers on kitchen islandReady to apply for a home equity line of credit?

Click on the button below to create your account and start the application process. Creating your account will establish your User ID and Password. You'll need these to access your application, so you may want to make note of them.

Features and Benefits:

  • 5.99% rate with an Annual Percentage Rate ("APR") of 6.073% for the first year*
  • In years two through thirty, the HELOC will have a Variable Annual Percentage Rate based on The Wall Street Journal Prime Rate (“Prime”) published on the first business day of the month. Maximum APR is 18%. Minimum APR is 3.25% 
  • Pay only interest during the first fifteen years, if you like
  • You can borrow money for 15 years, up to a certain credit limit, then take up to 15 years to repay
  • Access your line of credit by writing a check or making an online transfer to a BS&L Local Rewards Checking Account or another BS&L deposit account


cropped photo of red house with cedar shake roof and white trim with hosta gardenWhat's a home equity line of credit?

A home equity line of credit (or HELOC) can let you borrow money against the equity you've built up in your home.

How does it work?

A home equity line of credit lets you borrow against the equity you've built up in your home, up to a fixed credit line. For the first 15 years, you can borrow and optionally repay, over and over again. After 15 years, any balance outstanding converts to an amortizing loan that gets repaid monthly over the next 15 years. 

Am I eligible?

To qualify for a home equity line of credit, you need to have available equity in your home. You can typically borrow up to 70% of the current value of your home minus any other debt you have on the home. Then we consider your credit score and history, employment, monthly income and other debts, before we approve your loan.

What's next?

It can take as little as three weeks from application to closing for a home equity line of credit, depending on the size and complexity of your loan request. If you still have questions, contact a mortgage officer or call us at (802) 275-3979

*The interest rate on the line of credit will be discounted for the first twelve (12) months. Currently, the discounted rate is 5.99% with an APR of 6.073%, fixed for the first twelve months. This equates to an periodic rate of 0.01663%. The APR does not include costs other than interest.

Brattleboro Savings & Loan offers Home Equity Lines of Credit as low as $10,000. Beginning on the first anniversary date of the loan, the annual fee is $50.00 during the 15-year draw period. Other fees and charges may apply, contact us for more details.
luxurious claw foot bathtub in beautiful bathroom with large windows overlooking tranquil backyard