We Make Home Equity Loans Simple
Preparing for home remodeling, college tuition, wedding, vacation or any of life's other milestones? Whatever the reason, our goal is to offer a fast, flexible and affordable process.
For over 80 years we've been sharing dreams with our members. We continue to be a leading lender by combining the lowest rates, with convenient terms and no application or appraisal fees.
Fixed Rate Home Equity Loan
For home improvement, debt consolidation, education, or a new car. Whatever your personal dream is, a fixed-rate home equity loan from Charter Oak is the smart way to borrow. (Please consult your tax advisor for interest deductibility.)
*Some fees apply for loans greater than $250,000. Loans over $500,000 are subject to a 0.25% increase above the published rate. Properties over 20 acres are required to obtain a borrower paid full appraisal.
- Low fixed rates.
- Convenient terms from 5 to 15 years.
- No application fees.
- No appraisal fees.*
- $25 Rebate for new loans with automatic payment from a Charter Oak Account.
| Accelerator Mortgage | Interest Rate | APR* | Points | Cost Per $1000 | |
|---|---|---|---|---|---|
| 8 Year | 5.500% | 5.578% | 0 | 12.90 | |
| 12 Year | 5.750% | 5.805% | 0 | 9.63 | |
| Cost Saver Mortgage | Interest Rate | APR* | Points | Cost Per $1000 | |
| 15 Year | 6.500% | 6.546% | 0 | 8.71 | |
| 30 Year | 8.250% | 8.281% | 0 | 7.51 | |
| Home Equity Loans | Interest Rate | APR* | Points | Cost Per $1000 | |
| 5 Year | 6.125% | 6.127% | 0 | 19.39 | |
| 10 Year | 6.375% | 6.376% | 0 | 11.29 | |
| 15 Year | 6.500% | 6.501% | 0 | 8.71 | |
| Line of Credit (HELOC) | 7.250% | 7.250% | 0 | ||
| Fixed Rate Mortgage | Interest Rate | APR* | Points | Cost Per $1000 | |
| 10 Year | 5.750% | 5.914% | 0 | 10.98 | |
| 15 Year | 5.750% | 5.866% | 0 | 8.30 | |
| 20 Year | 6.500% | 6.594% | 0 | 7.46 | |
| 30 Year | 7.000% | 7.074% | 0 | 6.65 | |
| Adjustable Rate Mortgages | Interest Rate | APR* | Points | Cost Per $1000 | |
| 1/1 ARM | 5.500% | 6.818% | 0 | 5.68 | |
| 3/1 ARM | 5.625% | 6.624% | 0 | 5.76 | |
| 5/1 ARM | 5.750% | 6.500% | 0 | 5.84 | |
| 7/1 ARM | 6.000% | 6.494% | 0 | 6.00 | |
| 10/1 ARM | 6.250% | 6.532% | 0 | 6.16 | |
| Non-Owner Occupied | Interest Rate | APR* | Points | Cost Per $1000 | |
| 10 Year Fixed | 7.000% | 7.168% | 0 | 11.61 | |
| 15 Year Fixed | 7.250% | 7.371% | 0 | 9.13 | |
| 15 Year Fixed Balloon | 7.500% | 7.585% | 0 | 7.39 | |
Home Equity Line of Credit
For the ultimate in convenience, nothing beats a Charter Oak Home Equity Line. You can access your credit line by just writing a check. You may use the money you borrow for any purpose – home improvement, debt consolidation, education, a new car, your dream vacation, etc. (Please consult your tax advisor for interest deductibility.)
*Some fees apply for loans greater than $250,000. Properties over 20 acres are required to obtain a borrower paid full appraisal.
- Low variable interest rate.
- Low monthly payments.
- No application fees.
- No appraisal fees.*
- $25 Rebate for new loans with automatic payments from a Charter Oak Account.
| Accelerator Mortgage | Interest Rate | APR* | Points | Cost Per $1000 | |
|---|---|---|---|---|---|
| 8 Year | 5.500% | 5.578% | 0 | 12.90 | |
| 12 Year | 5.750% | 5.805% | 0 | 9.63 | |
| Cost Saver Mortgage | Interest Rate | APR* | Points | Cost Per $1000 | |
| 15 Year | 6.500% | 6.546% | 0 | 8.71 | |
| 30 Year | 8.250% | 8.281% | 0 | 7.51 | |
| Home Equity Loans | Interest Rate | APR* | Points | Cost Per $1000 | |
| 5 Year | 6.125% | 6.127% | 0 | 19.39 | |
| 10 Year | 6.375% | 6.376% | 0 | 11.29 | |
| 15 Year | 6.500% | 6.501% | 0 | 8.71 | |
| Line of Credit (HELOC) | 7.250% | 7.250% | 0 | ||
| Fixed Rate Mortgage | Interest Rate | APR* | Points | Cost Per $1000 | |
| 10 Year | 5.750% | 5.914% | 0 | 10.98 | |
| 15 Year | 5.750% | 5.866% | 0 | 8.30 | |
| 20 Year | 6.500% | 6.594% | 0 | 7.46 | |
| 30 Year | 7.000% | 7.074% | 0 | 6.65 | |
| Adjustable Rate Mortgages | Interest Rate | APR* | Points | Cost Per $1000 | |
| 1/1 ARM | 5.500% | 6.818% | 0 | 5.68 | |
| 3/1 ARM | 5.625% | 6.624% | 0 | 5.76 | |
| 5/1 ARM | 5.750% | 6.500% | 0 | 5.84 | |
| 7/1 ARM | 6.000% | 6.494% | 0 | 6.00 | |
| 10/1 ARM | 6.250% | 6.532% | 0 | 6.16 | |
| Non-Owner Occupied | Interest Rate | APR* | Points | Cost Per $1000 | |
| 10 Year Fixed | 7.000% | 7.168% | 0 | 11.61 | |
| 15 Year Fixed | 7.250% | 7.371% | 0 | 9.13 | |
| 15 Year Fixed Balloon | 7.500% | 7.585% | 0 | 7.39 | |
*APR = Annual Percentage Rate which is based on a $200,000 loan amount
All rates listed are subject to change without notice
Homeowners Insurance is required
A non-refundable origination fee of $475 is required
Charter Oak requires escrow for taxes and if applicable, flood insurance
Rates Effective June 16th, 2025
Have questions?
Our team of mortgage specialists are here to help you every step of the way.
Local: 860.446.3047 | Toll Free: 800.962.3237 ext 3047