We offer a wide selection of mortgage and home equity products to satisfy your home-related goals, including:
Serving Berkshire County, Westfield, Southwick, Granville, Montgomery and Russell, Massachusetts.
7/5 Adjustable Rate Mortgage:
Down payments as low as 3%.
No PMI required!
Perfect for 1st time Homebuyers and anyone looking for their next home.
*Offer subject to credit approval. Annual Percentage Rate (APR) and payments subject to change after the initial fixed-rate period (year 7) and every 5 years thereafter. Limited time offer. Based on 264 payments of $5.24 per $1,000 financed. Rate is based on the 5-year Treasury Bill plus a margin of 3.00%. Maximum periodic increase or decrease is 2.00% per adjustment. Maximum rate of 9.125% APR over the life of the loan. Down payment requirement may vary based on credit score. Valid for new purchases only.
You may borrow up to a percentage of the value that you actually own. Your home equity is defined as the value of your home minus what you still owe on any mortgages for the property. A loan against the equity that you have in your home is referred to as a home equity loan.
Home equity loans may be used for any purpose. Many people use them as a source of money for making home improvements, fund education or consolidate other loans and to take advantage of lower interest rates.
*APR=Annual Percentage Rate. Offer subject to credit approval & must qualify for Greylock Federal Credit Union membership. Rate valid as of 6/1/17. 180 monthly payments of $7.40 per $1,000 financed. Financing up to 80% of appraised value minus existing mortgage balances. Rate and payment information may vary based on term. Must carry property insurance.
**No closing costs for first-time applicants with MA properties. Closing costs paid on borrower’s behalf. Some restrictions may apply. Borrower may be responsible for repayment of cost to Greylock if loan is refinanced within 36 months
*Closing costs paid on the borrower's behalf for Berkshire County properties only. Some restrictions may apply. Borrower may be responsible for repayment of these costs to Greylock if they refinance within 36 months.
Get easy access to your home's equity.
Remodel the house. Head off to college. Take your dream vacation. The flexibility of a Home Equity Line of Credit makes financing easy.
HELOCs have an interest-only payment feature and there are no loan-advance fees, annual fees or closing costs (for first time applicants). You can make advances by simply writing a check, by visiting one of our branches, or by performing a transfer through Online Banking.
HELOC 80% LTV
***You may have to reimburse the credit union for any fees/closing costs paid on your behalf if the Home Equity Line of Credit plan is closed within the first three years. Property insurance required.
Get a customized rate quote that matches your home financing needs. You can check rates in our Mortgage Marketplace, find helpful mortgage resources, and apply!
Home Equity Programs
|Loan Type||Loan to Value||Interest Rate||APR1Go to footnote 1||Monthly Payment Per $1000 Borrowed||Alert Me|
|Home Equity LOC||Up to 80%||Variable Prime + 0%||4.25%2Go to footnote 2||N/A||Receive a notification when this rate changes|
|Home Equity LOC||Up to 90%||Variable Prime + 1%||5.25%2Go to footnote 2||N/A||Receive a notification when this rate changes|
|Loan Type||Loan to Value||Term||APR1Go to footnote 1||Monthly Payment Per $1000 Borrowed||Alert Me|
|Home Equity Loan||Up to 80%||15 Years||3.99%2Go to footnote 2||$7.40||Receive a notification when this rate changes|
|Up to 90%||15 Years||4.99%2Go to footnote 2||$7.91||Receive a notification when this rate changes|
|Subject to credit approval. Fees and Charges: The credit union pays third party fees for new participants unless you close the plan within three years. In that case, you may have to reimburse the credit union for any fees paid on your behalf. If you refinance an existing Home Equity with Greylock then you may pay certain fees to third parties to open the plan. These fees generally total between $400 and $500. If you ask, we will provide you with an itemization of the fees you will have to pay to third parties. Property Insurance: You must carry insurance on the property that secures this plan. Rate Changes: For Home Equity Lines of Credit, the annual percentage rate can change on the first day of each month. The rate cannot increase or decrease more than 1 percentage point at each adjustment. The maximum ANNUAL PERCENTAGE RATE that can apply is 18%|