April 12, 2023

Personal Lending

Here is a look at the personal lending options available to help you reach your unique goals in life.

No matter your goals in life, BayCoast is here to help with personal lending options to cover a wide range of needs, including home mortgages, home improvement loans, energy efficiency loans, HEAT loans, auto loans and more. In addition to our many loan options, we’ve made the application process as easy as possible.

Personal Lending

  • Mortgage Loans: BayCoast Mortgage Company, a wholly owned subsidiary of BayCoast Bank, offers several mortgage solutions to current and prospective homeowners. These solutions include conventional and jumbo loans, government loans, and other mortgage loans offerings, such as construction, first-time homebuyer, and land loans.  Contact our mortgage professionals to learn more about our loan products, and affordable options that may be available to you.
  • Energy Efficiency Loans: At BayCoast Bank, we’re committed to helping homeowners go green. As a result, we provide energy efficiency loans to homeowners looking to lower their utility bills and reduce their home’s energy consumption. These unsecured loans are perfect for you if you want to invest in smaller energy-efficient projects.
  • Home Improvement Loans: When you want to build your home’s equity by making renovations and upgrades, our home improvement loans are a great choice. This loan comes with a fixed rate, meaning you’ll never have to worry about your interest rate changing while you pay it off.
  • Equity Lines and Loans: Our equity lines and loans are perfect for homeowners who need quick access to cash to make home improvements, consolidate high interest debt, or simply to go on a dream vacation. Our home equity line of credit features a special low introductory rate and generally no closing costs or application fees. 
  • HEAT Loan: Like our energy efficiency loans, our HEAT Loans are designed to help homeowners go green with the help of a Home Energy Assessment from Mass Save. Currently, we offer HEAT loans up to $25,000 for various types of qualified energy-efficiency improvements, such as high-efficiency heating systems, solar hot water systems, and weatherization projects.
  • Auto loans: If you’re purchasing a new vehicle, you’ll want to check out our auto loans. We pride ourselves on offering outstanding service to our clients by providing flexible terms, extra saving opportunities, an easy application process, and competitive rates.

Additional Personal Loan Options:

BayCoast Bank offers additional personal lending options, including savings collateral loans, unsecured personal loans, and overdraft lines of credit.  Learn more about these loan options below:

Savings Collateral Loans

Use our savings collateral loans to borrow against the deposit balance in your BayCoast Bank Passbook Savings, Statement Savings, or Certificate of Deposit (CD) account.  This can be an easy way to fund expenses without using up all the money in your savings accounts.

Unsecured Personal Loans

Pay off expenses or high interest debt by applying for an unsecured personal loan, which features a fixed interest rate for the life of the loan.  With this option, there’s no collateral needed to borrow against which protects your assets if you default on the loan. 

Overdraft Line of Credit

Overdrafts occur when you don’t have enough money in your account to cover a transaction, but we cover it anyway.  Protect yourself from overdrawing your BayCoast Bank checking account by signing up for our overdraft line of credit.  While this option shouldn’t be relied on all the time, it’s a nice safety net to have for when those unexpected transactions hit your account before pay day.

Choose BayCoast Bank for Your Next Personal Loan

At BayCoast Bank, we’re confident we can help you find the right loan product for your financial goals. We also offer additional personal banking solutions to meet your needs, such as investing, savings, and checking options. If you have any questions, please feel free to contact us.

*Online loan applicants must live in Bristol County, Dukes County, Plymouth County, or Barnstable County, Massachusetts, or in the state of Rhode Island. Loan approvals are conditional and are subject to final review. Approvals are good for 30 days and are subject to a review of additional documentation such as the applicants’ current pay stubs, tax returns, proof of insurance, and any other documentation and verification we may require.

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