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GREAT NEWS!
You can now apply for a Chelsea Groton Home Equity Loan ONLINE and get an answer in minutes.
Visit our Mortgage Loan Center to see how easy it really is.
We have a special home equity offer that will just drive you buggy!
(Click here to learn more)
Chelsea Groton Bank is a leading lender in Southeastern Connecticut. The secret of our success is our
team of experienced professionals who service our loans locally. They live and work in Southeastern
Connecticut, just like you.
Home Equity / Home Improvement (New, Refinance)
Home Equity and Home Improvement loans are generally a second mortgage on your primary residence.
Chelsea Groton offers up to 80% of the appraised value of your residence minus the first mortgage
balance if applicable. You may borrow the approved amount and begin to make monthly payments on
principal plus interest for a set length of time. See our Interest Rate Section for current rates
and terms.
Home Equity Line of Credit (New, Refinance)
A Home Equity Line of Credit (HELOC) is designed to take advantage of the equity in your home.
You are approved for a maximum credit line and can borrow up to that amount. Based on the
Wall Street Journal Prime Rate, our HELOC is subject to change monthly with an 18% lifetime cap.
We offer two different products: an interest only line and one in which you pay 2% of the
outstanding balance plus interest each month. See our Interest Rate Section for current rates
and terms.
Land (New, Refinance)
You are eligible to borrow up to 80% of the purchase price or appraised value, whichever is less,
on lots proposed for building a primary residence. If the home to be built on the lot is not to
be owner occupied, we offer financing up to 75% of the purchase price or appraised value whichever
is less. See our Interest Rate Section for interest rate and terms.
Boat (New, Used, Refinance)
We offer competitive boat loan rates for boats manufactured of fiber-glass for pleasure purposes
only (excluding high performance boats) and will finance up to 80% of the purchase price or
value, whichever is less. See our Interest Rate Section for current rates and terms.
Automobile (New, Used, Refinance)
We offer financing for up to 100% of the purchase price or book value, whichever is less. See
our Interest Rate Section for current rates and terms.
Personal / Unsecured
See our Interest Rate Section for current rates and terms.
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