100% Home Equity Loan & Line Rates

Maximum loan amount of $250,000

*APR – Annual Percentage Rate (APR) effective as of 5/15/2023 and is subject to change without notice and applies to a loan-to-value (LTV) ratio of up to 100% and a loan amount of up to $250,000. APR may vary depending on creditworthiness, loan amount, and loan-to-value.

APR = Annual Percentage Rate. A rate of 8.75% APR applies to a Fixed Rate Home Equity Loan with a term of 60 months at 100% Combined Loan to Value (CLTV). A $10,000 Home Equity Loan at 8.75% APR requires 60 monthly payments of $206.46 for principal and interest, A $10,000 Home Equity Loan at 9.00% APR requires 120 monthly payments of $126.75 for principal and interest A $10,000 Home Equity Loan at 9.75% APR requires 180 monthly payments of $100.00 for principal and interest A $10,000 Home Equity Loan at 10.00% APR requires 240 monthly payments of $96.54 for principal and interest. The payment examples do not include taxes and insurance (s); the actual payment obligation may be greater. Disclosed rates are for applicants with the best credit score.  Your rate may be higher.

Home Equity loans for single-family, owner-occupied, primary, and/or vacation residences only; excludes investment property, co-ops, mobile homes, and single or double-wide manufactured homes. Property insurance is required. Applicants must successfully meet our Home Equity Line and loan credit standards. Not all members will qualify for this offer. Additional terms are available. Consult your tax advisor regarding your ability to deduct Home Equity Loan interest. We only offer home equity loans in the following states NJ, NY, PA, and FL. Some Non-NJ Properties may have State Tax-related closing costs. A full credit check will be required for all borrowers. All advertised rates are subject to individual qualifying factors and subject to change without notice. ALL borrowers must have or open savings and must be a member in good standing, membership requires a $100 minimum balance in a share savings account to avoid fees and to apply for a loan.

This promotion is available for a limited time and may be withdrawn anytime. Effective 6-12-23

**APR – Annual Percentage Rate.  The introductory rate of 8.49%, the Annual Percentage Rate (APR) is a promotional rate and will not change until the first day of the 13^th month after the day of the loan closing. If the promotion were not in effect, the Annual Percentage Rate would be 9.74%. After the promotional period, the loan will become variable-rate, and the interest rate and payment may change. The interest rate is based on the highest prime rate published in the Wall Street Journal. On July 26, 2023, that prime rate was 8.50%. The current APR for a Home Equity Line of Credit using the prime rate plus a 1.24% margin is 9.74%. The floor rate at the end of the initial 12-month period will be 8.49%, the rate will never exceed 17.49%. If applicable, your payments will change on the first day of the month. At no time during the life of your loan will your interest rate go below 8.49% after the one-year introductory rate, nor will it go any higher than 17.49%. Your rate change per year cannot exceed 2.00%. You can select a term of 20 years with a “draw period” of 7 years. Other restrictions may apply. Contact the credit union for more information about loan terms including the variable rate.

If the loan is paid off within two years, the borrower agrees to reimburse the Credit Union for closing costs initially waived in the amount of $750, and the member authorizes the Credit Union to withdraw the money from their Credit Union account. Loan Rates disclosed are for applicants with the best credit record and the current offer is subject to individual qualifying factors and may change at any time without notice, your rate may be higher.

Promotion is available for single-family, owner-occupied, primary residences only.  Existing Home Equity lines of credit must increase their line of credit by $10,000 to qualify.  Excludes investment property, co-ops, and single or double-wide manufactured homes. Property insurance is required. Applicants must successfully meet our Home Equity Line credit standards. Not all members will qualify for this promotional offer. Alternative rates are available. **Consult your tax advisor regarding your ability to deduct Home Equity Loan interest. Credit union membership is required to apply for any of our products and services.   All borrowers must have or open a savings account and must be a member in good standing.  Membership requires a $100 minimum balance in the share savings account to avoid fees and to apply for a loan. Consistent employment of 6 months with a minimum income of $12,000 is required. We only offer home equity loans in the following states: NJ, NY, PA, and FL.  Some Non-NJ Properties may have State Tax-related closing costs.