Move and Improve

A line of credit to help cover the costs of buying a home – expected and unexpected.

Couple moving in

Make Your House a Home , Faster.

You can now access up to $50,000 of fast and flexible funds to help transition from buying a house to living in a home.

Prime +0%

 Currently 7.50% APR*

for the life of the loan

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What Move and Improve Can Help With.

Couple moving in
Person house icon

Paying a Buyer’s Agent Commission

Box Icon

Moving Expenses

Repair icon

Home Renovations

Furniture truck icon

Purchasing Furniture

Repairman with dog

Frequently Asked Questions

The Move and Improve line is a type of mortgage solution where homeowners borrow money against the equity in their home. This is used to fund home improvement projects or other expenses.

By combining a traditional first mortgage with the Move and Improve Line, borrowers can potentially avoid higher-cost, non-confirming financing options or having to pay for private mortgage insurance, all while gaining access to funds for their current financial needs.

Repaying is similar to paying off credit card debt with a few key differences. During the draw period you can borrow money from your Move and Improve Line account up to your approved limit while only being required to make interest payments (principal payments are optional during this period). During the repayment period, you’ll be required to make both principal and interest payments until you’ve paid off what you’ve borrowed.

The Prime Rate is an interest rate published by the Wall Street Journal that is used by banks to issue loans to credit-worthy clients. More specifically, the Prime Rate often serves as a benchmark to determine interest rates for other products, such as home equity lines of credit and small business loans. You will often see interest rates as based on the most recently published Prime Rate with an adjustment up or down by a certain percentage, called a “margin.”

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*Annual Percentage Rate (APR). APR will adjust monthly to the current Prime Rate as published by the Wall Street Journal, subject to a floor APR of 5.00% and a maximum APR of 18.00%. Because the Prime Rate may change over time, the APR may also change during the referenced term. Quoted APR of 7.50% reflects the Prime Rate as of 17 January, 2025 and is subject to change without notice. APR quoted requires borrower’s agreement to make automatic payments for Move & Improve Line from a Leader Bank checking account; otherwise, the interest rate shall be based on the Prime Rate plus a margin of 0.25%, and the APR and floor rate quoted above will be 0.25% higher. Maximum available line amount is $50,000.00. Monthly payments during initial ten-year draw period will be interest only; payments will adjust to require fully amortizing principal payments in addition to accrued interest during the subsequent 15-year repayment period (total term of line is 25 years). Move and Improve Line available only for purchases of Massachusetts single-family homes or warrantable condominium units as primary residences; eligible borrowers must also obtain a conforming first lien fixed rate mortgage loan from Leader Bank on the same property with a loan to value ratio not to exceed 80%. Borrower will not be able to draw funds on Move and Improve Line until two (2) weeks following the closing of the line without prior approval from Leader Bank. Third party fees for Move and Improve Line to be paid by borrower may range between $0.00 and $1,100.00; other fees may apply. Homeowners insurance and credit approval required for Move and Improve Line and associated first lien purchase loan; other restrictions may apply. Contact a Leader Bank representative for complete details.

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