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Chelsea Bank offers second mortgage loans for 1-4 family residences and condominiums.

Second Mortgage

Need money right away? Tap into your home's equity!

The Second Mortgage is a fixed rate product based on a 5, 10, 15 or 20 year term. Borrow funds up to 75% of your home's value. You can choose to have no closing costs or no prepayment penalty.

Home Improvement Loan

Perfect for the smaller home improvements or redecorating projects!

Home Improvement Loans from $2,000 - $25,000 available in 5, 10 and 15 year terms. Any loan amount over $7,500.00 requires mortgage.

Home Equity Lines of Credit (HELOC)

Reserve a line of credit for instant access to funds when you need it, using up to 75% of the value of your home!

The program features a 10 year interest only payment with full repayment due in 15 years. Variable interest rate based on the Prime Rate published in the Wall Street Journal, no application fee, minimal closing costs, and no annual fee if line is used within the year.

Click here to view rates.


CHELSEA BANK, 360 Broadway, PO Box 505687, Chelsea, MA 02150-5687
Phone: 617-884-5600 Fax: 617-884-2590