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Your home is more than a place to live—it’s a way to move forward. At Maine Savings, we help you use the value you’ve built in your home to reach your next goal. Whether you’re dreaming of a new kitchen, paying for college, or consolidating debt, a Home Equity Loan or Home Equity Line of Credit (HELOC) could be the smart, flexible solution. With trusted local guidance and competitive rates, we make it easy to choose the right option for your needs—and help you find your path to financial confidence. That’s what it means to go Beyond Banking.

Home Equity Fixed Rate Loan

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Home Equity Line of Credit

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Our Members Come First
See what our members are saying about us.
  • Amy was a pleasure to work with on both our vehicle loan and home equity loan. She was extremely knowledgeable and helpful with the questions I had during the process and my wife and I thoroughly enjoyed our experience with Amy.

    – Kevin C.
  • It was an absolute pleasure working with Casey! His assistance in helping me obtain a home equity loan was seamless. Even when he enjoyed some well-deserved days off, Ryan was able to step right in his shoes. On top of assisting with my home equity loan Ryan was able to get me approved for a lower interest rate on my auto loan! Can’t say enough good things about my experience in working with both Casey & Ryan.

    – Caila C.
  • Casey & Amy were great! My whole HELOC application from start to closing went by super-fast with no hiccups! Thanks Team!

    – Brian
Fixed Rate Home Equity & HELOC Rates

Effective Date: Sunday, May 24, 2026

Maximum Term Loan to Value APR
Fixed Rate Home Equity + Up to 20 yrs Up To 90% Call for details
Home Equity Line of Credit * + XX open end ^^ Up To 80% as low as 6.50%
Home Equity Line of Credit ** + XX open end ^^ Up To 90% as low as 7.00%
*
Home Equity Line of Credit rate is subject to change monthly on existing loans and is based on being .25% below (or .25% above for up to 90% Loan to Value) the Wall Street Journal Prime rate listed on the 15th day of the previous month. Prime Rate as of 12/11/25 is 6.75%.
**
Home Equity Line of Credit rate is subject to change monthly on existing loans and is based on being .25% below (or .25% above for up to 90% Loan to Value) the Wall Street Journal Prime rate listed on the 15th day of the previous month. Prime Rate as of 12/11/2025 is 6.75%.
^^
The number of years it will take to pay off a loan. The loan term is used to determine the payment amount, repayment schedule and total interest paid over the life of the loan. For example, a loan of $50,000 with an 8.25% APR for 15 years would have 180 monthly payment of $487.22 each and total interest paid of $37,698.21.
+
Closing costs may range from $150.00 to $2,000.00.
XX
There are no minimum, fixed, transaction or activity charges. The maximum interest rate is 18.00%
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Home Equity Loan & HELOC FAQ
What is the difference between a HELOC and a home equity loan?
How does a HELOC work?
How do I apply for a home equity loan or HELOC?
Is a HELOC better than a personal loan?
What can I use a home equity loan or HELOC for?
Can I use a home equity loan or HELOC for home renovations in Maine?
Why choose a credit union for a home equity loan in Maine?
How much can I borrow with a home equity loan or HELOC?
Can I refinance debt with a home equity loan?
How long does it take to get approved for a home equity loan?
Are home equity loan interest rates fixed?

A home equity loan provides a lump sum with fixed monthly payments and has a fixed interest rate. A HELOC is a revolving line of credit that allows you to borrow as needed during the draw period. A HELOC has a variable interest rate. Learn More Here

A HELOC gives you access to a revolving line of credit based on your home’s equity. You can borrow funds as needed, repay the balance, and borrow again during the draw period.

You can apply for a Home Equity Loan or HELOC online or at one of our branch locations.

A HELOC may offer a lower interest rate and greater borrowing flexibility because it is secured by your home, while a personal loan is not. Personal loans may be a better option for smaller expenses or those who prefer unsecured financing.

Homeowners commonly use a home equity loan or HELOC to finance home improvements, debt consolidation, or college expenses. These types of financing options can be used for many different types of purchases, both large and small.

Yes. Many Maine homeowners use home equity loans and HELOCs to finance kitchen remodels, home additions, repairs, energy-efficiency upgrades, and other home improvement projects.

Credit unions are member-focused financial institutions and often provide competitive rates, personalized service, and flexible lending options for Maine homeowners.

The amount you may qualify to borrow depends on various financial factors such as your home’s value, your remaining mortgage balance, income, and your credit history.

Yes. Home equity loans are often used to consolidate high-interest personal and credit card debt. Doing so can consolidate these debts into one with a potentially lower interest rate.

Approval times vary based on the application, appraisal requirements, and documentation needed. Our loan experts ensure that all applications received will be processed in a timely manner so you can view the options that best fit your financial situation.

Fixed-rate home equity loans maintain the same rate and payment for the life of the loan, while HELOC rates are variable.