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Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Whether your company needs new equipment, land to build on, a convenient credit line or just a good, solid credit card, Berkshire Bank won't make you pay dearly to do business with us. Our across-the-board great rates mean you can consider us the perfect partner. Jumbo Mortgages are funded by other investors and are for loan amounts higher than the limits of a conforming loan. Jumbo loans usually carry a higher interest rate and some additional underwriting requirements. Term loans and revolving lines of credit to help your business grow or smooth out your cash flow.
The value of your home can be used as collateral for a low-cost loan. Sure, you can use it to add a master bedroom suite or backyard deck. But you can also use the money for a family vacation, new furniture, higher education funds, debt consolidation or something fun. With competitive rates on loan amounts as low as $17,500, and access to borrow up to 89.99% of your home's value, let your imagination lead you.
Home Equity: Line vs Loan
Contact us directly and we will put you in touch with one of our Mortgage Advisors to help you decide on which commercial mortgage to choose. Before you apply, use this calculator to estimate a monthly payment you can afford. Adjust the term, amount, and rate to find the amount that is right for you.
You'll find our mortgage loans come with affordable interest rates, flexible terms and much more! You can always count on the expertise, professionalism and personal touch of our experienced Mortgage Advisors. It's more than just a slogan, it's a way of doing business you'll come to rely on. Successfully purchasing property requires finding the best type of loan and terms for your personal or business financial situation. Several different loan products, each designed to meet a buyer's specific circumstances, are available at The Berkshire Bank. Our experienced Mortgage Advisors will work with you to provide the best loan for your needs.
Life is exciting. Let us help.
We make no representation as to the completeness or accuracy of information provided on Linked Sites. When you access a Linked Site, you assume total responsibility and risk for your access and use of such Linked Site. Use the calculator below to calculate your monthly home equity payment for the line of credit from Berkshire Bank. You can adjust loan amount, interest rate, and the home equity term to view the impact on the monthly payment amount.
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Our editorial team does not receive direct compensation from our advertisers. Put the Equity in Your Home to Work It’s money that opens the door to a world of possibilities. To learn more about our great introductory rate, click here. Start your everyday banking journey quickly and easily.Get started now. We try to keep your costs under control with reasonable rates on auto, motorcycle & recreational financing and other types of personal loans.
Financial Details
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Berkshire Bank is a socially responsible community-dedicated bank with locations primarily in New England and New York empowering your financial potential. As you see, home equity is not just for a new roof or an update to a bathroom, these loans and lines of credit are a great tool for all of life’s exciting moments. In addition, speak with your tax advisor regarding a potential tax write-off. Commercial mortgages and construction financing for owner-occupied and investment properties, equipment loans, land acquisition, site development and construction loans. Berkshire Bank offers attractive financing for construction, real estate, equipment and other purposes.
For a more detailed analysis of Berkshire Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section. Berkshire Bank is an FDIC insured institution located in Pittsfield, MA. It was founded in 1846 and has approximately $11.58 billion in assets. Stay connected to your money, wherever life takes you. If you are using Internet Explorer, you may need to select to 'Allow Blocked Content' to view this calculator. When you're in the market for a consumer loan that fits your budget, turn to the lending experts at Berkshire Bank.
The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw. For lines of credit, the Annual Percentage Rate is variable and can change monthly, the maximum APR is 18% and there is a $20 annual fee. Property insurance is required for all home equity products.
Customers can open an account at one of its 122 branches. Compared to other banks, Berkshire Bank’s loan portfolio does not show any specific loan specialty. Berkshire Bank has a Return on Equity of 8.53% versus the BestCashCow average of 9.98%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
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