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Affordable Home Equity Loan Program

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  • Affordable Home Equity Loan Program

Rooted in the Community

Our Affordable Home Equity Loan Program(1) provides a 0.25% discount on our Fixed Rate Home Equity Loan rates to those in Northfield Bank's Lending Territory(2) who:

Home Equity Loans generally have lower interest rates than most consumer credit options and are a great way to pay down higher-interest debit or finance major purchases such as home improvements and educational costs.


Click here for information to see if you qualify for this amazing opportunity to lock in a lower interest rate on a Fixed Rate Home Equity loan!

Program Details

  • Flexible Term Options
  • Apply Online or Download Application
  • Rate Reduction for Automatic Payment and E-Statement Enrollment(3)
Do I Qualify?

The Northfield Affordable Home Equity Loan Program(1) is available for residences located in a low or moderate-income (LMI) census tract in Northfield Bank’s Lending Territory(2) OR the borrower is located anywhere within Northfield Bank’s Lending Territory(2) and the borrower’s eligible qualifying income is less than 80% of the county median family income.

 

Northfield Bank's Lending Territory is defined as:

  • New Jersey Counties: All counties.
  • New York Counties: Bronx, Kings, Manhattan, Nassau, Orange, Queens, Richmond, Rockland, Suffolk and Westchester.
  • Pennsylvania Counties: Berks, Bucks, Carbon, Chester, Cumberland, Dauphin, Delaware, Lackawanna, Lancaster, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Philadelphia, Pike, Perry, Schuylkill, Wayne and York.
Do I Qualify?

Contact our Home Equity Team

 

Customer Service

 

Speak to a Home Equity Team Member

(732) 587-2230

Representatives Are Available:

Monday-Friday

8:30am - 5:00pm

NJ Low to Moderate Income Borrower Chart

County Median Family Income (MFI) 80% of MFI County Median Family Income (MFI) 80% of MFI
Atlantic $100,500 $80,400 Mercer $125,900 $100,720
Bergen $129,500 $103,600 Middlesex $146,200 $116,960
Burlington $114,700 $91,760 Monmouth $130,600 $104,480
Camden $114,700 $91,760 Morris $130,300 $104,240
Cape May $111,700 $89,360 Ocean $130,600 $104,480
Cumberland $75,800 $60,640 Passaic $129,500 $103,600
Essex $130,300 $104,240 Salem $114,700 $91,760
Gloucester $114,700 $91,760 Somerset $146,200 $116,960
Hudson $100,200 $80,160 Sussex $130,300 $104,240
Hunterdon $146,200 $116,960 Union $130,300 $104,240
      Warren $115,100 $92,080

NJ Low to Moderate Income Borrower Chart

  • Median Family Income (MFI)

  • 80% of MFI

  • County

  • Median Family Income (MFI)

  • 80% of MFI

NY Low to Moderate Income Borrower Chart

County Median Family Income (MFI) 80% of MFI County Median Family Income (MFI) 80% of MFI
Bronx $97,600 $78,080 Queens $97,600 $78,080
Kings $97,600 $78,080 Richmond $97,600 $78,080
Nassau $156,200 $124,960 Rockland $133,400 $106,720
Manhattan $96,700 $78,080 Suffolk $156,200 $124,960
Orange $114,800 $91,840 Westchester $156,200 $124,960

NY Low to Moderate Income Borrower Chart

  • Median Family Income (MFI)

  • 80% of MFI

  • County

  • Median Family Income (MFI)

  • 80% of MFI

PA Low to Moderate Income Borrower Chart

County Median Family Income (MFI) 80% of MFI County Median Family Income (MFI) 80% of MFI
Berks $93,700 $74,960 Lehigh $98,300 $78,640
Bucks $114,700 $91,760 Luzerne $83,000 $66,400
Carbon $98,300 $78,640 Monroe $103,500 $82,800
Chester $114,700 $91,760 Montgomery $114,700 $91,760
Cumberland $97,900 $78,320 Northampton $98,300 $78,640
Dauphin $97,900 $78,320 Philadelphia $114,700 $91,760
Delaware $114,700 $91,760 Pike $96,000 $76,800
Lackawana $83,000 $66,400 Schuykill $79,600 $63,680
Lancaster $106,700 $85,360 Wayne $79,300 $63,440
Lebanon $89,100 $71,280 York $105,100 $84,080

PA Low to Moderate Income Borrower Chart

  • Median Family Income (MFI)

  • 80% of MFI

  • County

  • Median Family Income (MFI)

  • 80% of MFI

(1) All loans are subject to credit approval. Available for home equity closed end loans, for owner-occupied primary or secondary 1 to 2-family residences and either: (a.) located in a low or moderate-income (LMI) census tract in Northfield Bank’s lending territory OR (b.) located anywhere within Northfield Bank’s Lending Area and the borrower’s eligible qualifying income must be less than 80% of the county median family income, as designated in the chart found above.

(2) Northfield Bank’s lending territory is defined as all counties in NJ; Bronx, Kings, Manhattan, Nassau, Orange, Queens, Richmond, Rockland, Suffolk and Westchester counties in NY; and Berks, Bucks, Carbon, Chester, Cumberland, Dauphin, Delaware, Lackawanna, Lancaster, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Perry, Philadelphia, Pike, Schuylkill, Wayne and York counties in PA.

(3) Rates for fixed rate loans reflect a 0.25% reduction for BOTH automatic payment deduction from a checking account acceptable to Northfield Bank AND enrollment in E-Statements. To be eligible for the discounted rate, borrower must BOTH establish Automatic Payment no later than at the time of account opening AND enroll in E-Statements no later than 30 days after the time of account opening. In order to maintain the rate reduction, BOTH automatic payment deduction AND enrollment in E-Statements must remain for the term of the loan. 

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To help visitors understand information on this website in a variety of languages, Northfield Bank offers GoogleTM Translate, an unaffiliated third party service, which automates translation of the website. The GoogleTM Translate automated translation tool is not perfect and should not be relied upon. Automated translation may miss context, the full meaning may be lost, or words, phrases or sentences may be inaccurately translated. In addition, to the extent GoogleTM Translate caches and presents older versions of the Northfield Bank website content, that is beyond the control of the Northfield Bank site and its operators, who accept no responsibility or liability for the outdated translation.

As a result, Northfield Bank does not make any promises, assurances, or guarantees as to the accuracy of the translations provided or the accuracy of the converted text. Northfield Bank and its affiliates disclaim and will not accept any liability for damages or losses of any kind caused by or arising out of the use of or reliance on the Google Translate feature. Where there is any question, the English version is always the authoritative version of the website.

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Please be advised that deposit and loan disclosures and contractual documents will only be provided in English.

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