Home Equities, Home Improvement & Home Energy Loans

Your foundation for financing home projects and more! You have a lot you want to do, so we made sure you have options to fund your home improvements and other major purchases.

Line of Credit

For large projects or other major purchases that may need a flexible budget.

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  • Variable Rate1
  • Minimum $25,000
  • 10 year draw period with interest only payments, then 10 year repayment term (principle plus interest)
  • 80% and 90% loan to value options3

Home Equity Loan

For large one-time projects or other major purchases that have a fixed budget.

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  • Fixed rate as low a {{RatePlaceholder}} APR 1,2 for 60 months
  • Minimum $25,000 
  • Terms up to 240 months (20 Years)
  • 80% and 90% loan to value options3

Home Improvement

For smaller home projects when you don't want to use your home as collateral.

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  • Fixed rate as low as {{RatePlaceholder}} APR1
  • Borrow without using your home as collateral
  • Flexible terms
  • Apply online for a quick closing

Heat

Make your home more energy efficient with MassSave.

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  • {{RatePlaceholder}} APR1 for qualified projects
  • Terms up to 84 months (7 years)4
  • Primary and investment properties
  • $2,000 to $25,000

Solar

Buy and install solar panels on your home.

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  • Rates as low as {{RatePlaceholder}} APR1,5 for 84 months
  • Terms up to 144 months (12 years)
  • 80%5 and 90%6 loan-to-value options

All loans have access to these features:

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Convenient Online Payments

Pay your loan anytime from your online banking account or through the mobile app.
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Online and Mobile Banking

View accounts, check balances, setup ebilling and make a payment.7
View All Loan Rates

1All Loans: Subject to credit underwriting and approval. Loan amount may vary based upon credit approval. Visit our rates page for all available rates and terms. Rates effective as of 8/18/2021 and subject to change at any time. Offers may be withdrawn at any time. Workers Federal Credit Union membership required. APR=Annual Percentage Rate. 

2Home Equity Loan: Maximum combined loan to value is 80% or 90% for owner-occupied primary residence. Investment properties are not eligible. Homeowner’s insurance is required. Minimum loan amount is $25,000. The Annual Percentage Rate (APR) on a home equity loan is as low as 5.875% APR for Up to 60 Months. The monthly payment per $1,000 borrowed is $19.27. Taxes and insurance not included. Actual payment obligation may be greater. Early termination fee applies. Required down payment as low as 10-20%. Investment properties are not eligible. Includes a 0.50% discount for electronic payments from a Workers Checking Account.

3Home Equity Line of Credit:

  • 80% Financing: There is a 10-year draw period and a 10-year repayment period. An annual fee of $30 will be waived if the borrower has the monthly payment paid automatically from a Workers checking account. Offer applies to new Workers Federal Credit Union lines only. Owner-occupied primary residence only to a maximum 80% combined loan-to-value and a maximum of 75% combined loan-to-value on owner-occupied second homes. Investment properties are not eligible. Homeowner’s insurance is required. $350 early termination fee will be charged if discharged within the first two years. Current Wall Street Journal Prime is 7.75%. Maximum Rate is 18%. Minimum Rate is 2.99%. The Interest Rate will be set on the first business day of each month at minus .5% below the Prime Rate published in the Wall Street Journal on the last business day of the previous month. Minimum line amount is $25,000.
  • 90% Financing: The interest Rate will be set on the first business day of each month at 1.00% above the Prime Rate published in the Wall Street Journal on the last business day of the previous month. The Current Wall Street Journal Prime is 7.75%. Maximum rate is 18%. Minimum Rate is 5.00%. There is a 10-year draw period and a 10-year repayment period. Maximum loan to value is 90%. An annual fee of $30 will be waived if the borrower has the monthly payment paid automatically from a Workers checking account. $350 early termination fee will be charged if discharged within the first two years. Offer applies to new loans only on owner-occupied single family and condominiums only. Investment properties are not eligible. Homeowners insurance required.

4Heat Loan: The Annual Percentage Rate (APR) on a heat loan is 0.00% APR up to $25,000 for Up to 84 Months  with a payment per $1,000 of $25.00 (based on a loan of $25,000).

5 Solar Loan (80% Financing): The Annual Percentage Rate (APR) on an 80% solar loan is as low as 4.750% APR for Up to 84 months. The monthly payment per $1,000 borrowed is $14.02. APR includes a .50% discount for automatic electronic loan payments from any Workers Checking Account. Other rates and terms are available. Maximum 80% loan to value ratio. Offer applies to new solar loans in Massachusetts and New Hampshire only on owner-occupied primary residence. Homeowners insurance required. Early termination fee applies. Investment properties are not eligible. Copy of solar installation contract required.

6 Solar Loan (90% Financing): The Annual Percentage Rate (APR) on a 90% solar loan is as low as 5.750% APR for Up to 84 months. The monthly payment per $1,000 borrowed is $14.49.  APR includes a .50% discount for automatic electronic loan payments from any Workers Checking Account. Other rates and terms are available. Rates subject to change without notice. Maximum 90% loan to value ratio. Offer applies to new solar loans in Massachusetts only on owner-occupied primary residence. Homeowners insurance required. Early termination fee applies. Investment properties are not eligible. Copy of solar installation contract required. 

7Text, data, and messaging rates apply for downloading/utilizing the app and text alerts.