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Home Equity Lines of Credit
A Home Equity Line of Credit is a revolving line of credit that provides you with a cash reserve to draw on whenever you need it. It provides you with the convenience to write a check to pay your credit card bills, purchase a car, pay for education expenses, or make home improvements. The available line of credit will be based on 60% of the appraised value.
- Loan Term – 15 Years from the closing date
- 1st Lien Position - Borrow up to $350,000 (Minimum Loan $10,000)
- 2nd Lien Position – Borrow up to $350,000 aggregate (Minimum Loan $10,000)
- 1 - 4 Family Home – Owner Occupied as Primary Residence in New Jersey
- Home Owner’s Insurance Is Required
- No Application Fee
- Recording Fee Payable at Closing (based on property type)
This is a variable rate account. APR is subject to change. The interest paid may be tax deductible. Consult your tax advisor.
Rates
For rates and disclosures please click here.
