When you have recurring expenses like financing an education
or on going home improvements, consider a Home Equity Line
of Credit. This loan is a revolving line of credit secured
by a lien on your primary residence. You can borrow as you
need to, and funds become available again as you pay the
balance. The interest rate is a variable rate, and equal to prime with a floor of 4.00%.
- Borrow up to 80% your home's equity
- 15 year term
- No application fees
- No points
- No appraisal fees
- No processing fees
- No prepayment penalty*
Note: Your home must be located in the state of New Jersey
and be your primary residence to be eligible for this loan.
The following documentation is required to process your
second mortgage application:
- Endorsement page of Title Insurance Policy
- Copy of Deed
- Current Mortgage information
- Homeowners Insurance Policy (declaration page)
- Current year and prior year tax returns.
- Fully completed residential loan application, available
at any of our offices.
*Only applies if loan is active over 1 year.