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Home Equity

Whether you want to make home improvements, purchase a new car, consolidate debt, finance your child’s education or want to plan well-deserved vacation, Spencer has the right home equity loan for you. We offer a variety of suitable options to allow you to use your equity to meet your personal goals. We will take the time to get to know you and your needs to find the perfect loan option for you.

The following NMLS Consumer Access website will provide you with NMLS numbers for all Spencer lenders. Spencer Savings Bank’s NMLS number is 421318.

Home Equity Loan Rate Types

Loan Types Loan Amounts Terms Interest Type Loan Features

Fixed Home Equity Loan Rates

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$2,000 – $1 Million 2-30 Years Fixed Rate
  • Fixed Monthly Payments
  • Stability, Predictability and Easy Budgeting
  • No Pre-Payment Penalty

SpencerFlex Line of Credit

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$5,000 – $1 Million 10 Year Draw Period Variable Rate (Based on Prime Rate)
  • Convenient Credit Line Checkbook
  • Interest Charged on Outstanding Balance
  • Replenishing Credit
  • “Flex” Conversion Option

Special Homeowner Loan

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$2,500 – $250,000 2-30 Years Fixed Rate
  • No Fees
  • Special low fixed interest rate
  • Income limitations apply
  • See application for property requirements