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Home Equity Line of Credit


A Home Equity Line of Credit can give you access to additional funds using the equity in your home. If you aren’t quite ready to draw, you don’t have to. By applying now, you’ll have peace of mind knowing you can.


Benefits of a HELOC:

-Funding for home improvement, tuition payments, consolidating debt and more

-No requirement to draw, use funds when you need to

-Rates often lower than a credit card

-Easy online applications

Apply Online Today


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*Annual Percentage Rate (APR). 2.99% APR is fixed for the introductory period, the first 12 complete billing cycles and variable thereafter. The variable APR is the prime rate plus .75% as published in the Wall Street Journal on the 15th of the month. The current prime rate is 3.25% resulting in a current APR of 4.00%. Annual Percentage Rate (APR) is a variable rate and may change monthly. The Credit line has a minimum APR of 4.00% and a maximum APR of 15%. This Home Equity Line of Credit (HELOC) is available for 1-4 family, owner-occupied properties in New Jersey. Homeowners insurance is mandatory, flood insurance may be required. Please call for maximum LTV. A mortgage recording fee is due at closing. The fee ranges from $50 to $60 depending on the county where the secured property is located. Maximum credit line is $500,000 and minimum credit line is $25,000 with a minimum draw of $100. This offer is subject to credit approval and does not apply to current Columbia Bank HELOC. Minimum monthly payment during the draw period of 10 years, 1/240th of the outstanding principal balance or $40.00, whichever is greater plus finance charges and late charges, if any. Minimum monthly payment during the repayment period 20 years is the greater of $100.00 or an amount sufficient to amortize the loan based on the APR, balance and remaining loan term, not to exceed 240 months. At the end of the draw period you will no longer be able to obtain credit advances and must pay any outstanding balance over a maximum twenty (20) year term. Once this HELOC has been opened, the borrower(s) may not obtain this same line of credit type from us anytime within the next 24 month period unless the borrower reapplies and is approved for a credit limit that is higher than the original credit limit granted. Rates are effective as of 6/11/2020