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Home Equity Rates
New York Properties

Fixed Rate Home Equity Loans - NY

Term APR* Payment Example
5 Year 4.500% 60 payments of $18.64 per $1,000 borrowed
10 Year 4.500% 120 payments of $10.36 per $1,000 borrowed
15 Year 4.750% 180 payments of $7.78 per $1,000 borrowed
20 Year 5.000% 240 payments of $6.60 per $1,000 borrowed

Home Equity Line of Credit - NY

Rate Index Current APR**
Prime Rate Minus 0.50%
for the life of the loan
with a floor rate of 4.75% APR*
4.75%
  • Northfield will pay the NY Mortgage Tax on Home Equity Loans and Lines of Credit of $250,000 or less.
  • 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 the New York Counties of Richmond or Kings. 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 ($72 - $120). The rates for fixed rate loans include a .25% reduction for automatic payment deduction from a checking account acceptable to Northfield Bank.

Rates and terms are current as 9/05/18 and are subject to change at anytime without prior notice.

** 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 the New York Counties of Richmond or Kings. 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 ($72 - $120). The rates for fixed rate loans include a .25% reduction for automatic payment deduction from a Northfield Bank checking account. The rate for a home equity line of credit is based on Prime as published in the Wall Street Journal (currently 5.25%) minus a margin of 0.50%. Rate is variable and may change monthly. The minimum rate “floor rate” is 4.75% APR and the maximum rate “ceiling rate” is 16.00% APR.

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

There is a recapture fee equal to the amount of the mortgage tax paid by the bank at origination if the line is terminated in the first 24 months.

Rates and terms are current as 12/05/18 and are subject to change at anytime without prior notice.