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Home Equity Rates
New Jersey Properties

Fixed Rate Home Equity Loans - NJ & PA

Term APR* Payment Example
5 Year 2.750% 60 monthly payments of $17.86 per $1,000 borrowed
10 Year 3.000% 120 monthly payments of $9.66 per $1,000 borrowed
15 Year 3.250% 180 monthly payments of $7.03 per $1,000 borrowed
20 Year 3.500% 240 monthly payments of $5.80 per $1,000 borrowed
25 Year 3.750% 300 monthly payments of $5.14 per $1,000 borrowed

Home Equity Line of Credit - NJ & PA

Introductory APR** Current APR**

1.99%

For the first 12 Months

3.00%

Variable APR after the 12 month introductory period. Prime minus 0.25%
for the life of the loan with a floor rate of 3.00% APR*

  • No application fee
  • No appraisal fee
  • No points
  • Convenient statewide loan closings

APPLY ONLINE

DOWNLOAD A HOME EQUITY APPLICATION

 

(Note: Prospective borrowers must be of legal age in order to apply for a loan.)

* APR denotes ANNUAL PERCENTAGE RATE. Rates and terms are based on loan or credit line amounts of $250,000 or less with a  maximum loan-to-value ratio of 80% and are contingent upon you granting Northfield Bank an acceptable and marketable first or second Mortgage. Eligible properties include owner occupied, 1-2 family residences and condominiums in NJ or PA. Investment properties, cooperatives and purchase money transactions are excluded. Adequate homeowner’s insurance is required and federal flood insurance is required for properties in a designated flood zone. Borrowers are responsible for mortgage recording fee (estimated range $120 - $220). The rates for fixed rate loans include a .25% reduction for automatic payment deduction from a checking account acceptable to Northfield Bank.

Payment does not include real estate taxes and property insurance; therefore your actual obligation will be greater.

** APR denotes ANNUAL PERCENTAGE RATE. . Rates and terms are based on loan or credit line amounts of $250,000 or less with a maximum loan-to-value ratio of 80% and are contingent upon you granting Northfield Bank an acceptable and marketable first or second Mortgage. Eligible properties include owner occupied, 1-2 family residences and condominiums in NJ or PA. Investment properties, cooperatives and purchase money transactions are excluded. Adequate homeowner’s insurance is required and federal flood insurance is required for properties in a designated flood zone. Borrowers are responsible for mortgage recording fee (Estimated range $120 - $220).  The introductory rate for the home equity line of credit is fixed at 1.99% for the first 12 months. Thereafter, the rate is based on Prime as published in the Wall Street Journal (currently 3.25%) minus a margin of 0.25%. Rate is variable and may change monthly. After the introductory period, the minimum rate “floor rate” is 3.00% APR and the maximum rate “ceiling rate” is 16.00% APR. There is an early termination fee of $500 for lines of credit that are terminated in the first three years.

Payment does not include real estate taxes and property insurance; therefore your actual obligation will be greater.

Loans are subject to credit approval.

Rates and terms are current as 07/28/21 and are subject to change at anytime without prior notice.