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Home Equity Line of Credit

For our HELOC rates, Call our Customer Service center or visit your local branch
For our HELOC rates, Call our Customer Service center or visit your local branch

Take advantage of a Columbia Bank Home Equity Line of Credit.

Consolidate debt, finance expenses, or make needed home improvements.


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*Annual Percentage Rate (APR). The 3.49% APR is fixed for first 12 complete billing cycles and variable rate thereafter. After the introductory period for the first 12 months, the variable APR is the prime rate minus .50% as published in the Wall Street Journal on the 15th of the month. The current prime rate is 4.75% resulting in a current APR of 4.25%. Annual Percentage Rate (APR) is a variable rate and may change monthly. After the first 12 month period, the line has a minimum APR of 4.00% and a maximum APR of 15%. If no prime rate is published on the fifteenth, the preceding business day’s prime rate will be used. This product 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. 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 is the greater of $100.00 or an amount sufficient to amortize the loan based on 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 home equity line of credit (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. Offer subject to credit approval. Rates are effective as of 1/23/2020.