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New Jersey Home Equity Line of Credit Rates

Compare Home Equity Line of Credit rates from lenders in New Jersey with a loan amount of $50,000. To change the mortgage product or the loan amount, use the search box above. Click lender name to view more information.

New Jersey Home Equity Line of Credit

Lender Rate (%) Monthly Payment Learn More
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$363.61 Learn More
Updated 07/27/2016
TD Bank
Updated 07/27/2016
Wells Fargo
Updated 07/27/2016
Sovereign Bank
Updated 07/27/2016
Banco Popular
Updated 07/27/2016
Updated 07/27/2016
Bank of America
Updated 07/27/2016

Data from above provided by Informa Research Services, Inc.

Columbia Bank
Updated 06/28/2016
1.75 Varies Learn MoreShow Less
Lakeland Bank
Updated 06/28/2016
1.99 Varies Learn MoreShow Less
Santander Bank, N.A.
Updated 07/11/2016
1.99 Varies Learn MoreShow Less
Boiling Springs Savings Bank
Updated 06/28/2016
1.99 Varies Learn MoreShow Less
Updated 07/07/2016
1.99 Varies Learn MoreShow Less
The Columbia Bank
Updated 07/21/2016
2.19 Varies Learn MoreShow Less
Fulton Bank of New Jersey
Updated 07/14/2016
2.19 Varies Learn MoreShow Less
Updated 07/18/2016
2.49 Varies Learn MoreShow Less
Armed Forces Bank, National Association
Updated 06/17/2016
2.99 Varies Learn MoreShow Less
TD Bank, National Association
Updated 07/13/2016
3.00 Varies Learn MoreShow Less
Spencer Savings Bank, SLA
Updated 06/17/2016
3.00 Varies Learn MoreShow Less
TD Bank USA, National Association
Updated 07/13/2016
3.00 Varies Learn MoreShow Less
Updated 07/07/2016
3.00 Varies Learn MoreShow Less
U.S. Bank National Association
Updated 07/13/2016
3.24 Varies Learn MoreShow Less
Wells Fargo Bank, National Association
Updated 07/21/2016
3.50 Varies Learn MoreShow Less
The Provident Bank
Updated 06/27/2016
3.50 Varies Learn MoreShow Less
Clifton Savings Bank
Updated 07/11/2016
3.50 Varies Learn MoreShow Less
Updated 07/25/2016
3.50 Varies Learn MoreShow Less
Updated 07/18/2016
3.50 Varies Learn MoreShow Less
Updated 07/07/2016
3.50 Varies Learn MoreShow Less

Data provided by BestCashCow

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.

Rates provided by BestcCashCow are based on loan amount of $50,000 and a variety of factors including credit score and loan to value ratios. For specific requirements please check with the lender. Rates may change at any time.

Home Equity Line of Credit - Rates are based on a variable rate, second lien revolving home equity line of credit New Jersey for an owner occupied residence with an 80% loan-to-value ratio for line amounts of $50,000. Discount indicates the amount of reduction in the Rate for having monthly payments automatically deducted from an account and/or for having other relationship accounts with the institution, expressed as a percentage. Conditions ‘No closing costs’ indicates that customer is not required to pay closing costs on the line of credit. ‘With closing costs’ indicates that customer is required to pay closing costs on the line of credit. Rates displayed do not include discounts. Rates are subject to change without notice.

Starting Your Search for the Best Mortgage Rates

Once you have found and purchased the home of your dreams, you will need to protect your investment. You will need a good understanding of the best type of loan for you as well as prevailing mortgage rates.

Securing the best mortgage isn’t simply about finding a lender who offers you the best rate. Taking out a mortgage can be a time-consuming, confusing, and even emotional process. The best mortgage lenders will guide you through the complex process with ease and treat you with respect. This makes finding the best rates from top mortgage lenders a little bit tougher than finding, say, the Best Credit Card for earning travel rewards, the Highest Yielding Online Savings Account Account or the Highest Yielding CD.

In addition to searching for the best rate, you will want to improve your credit score, identify the maximum down payment you can make and determine how long you will be in your house or apartment. Based on these factors, the following are the types of mortgage products you may wish to consider.

Fixed-rate mortgages

While fixed-rate mortgages are by far the most common type of home loan. It’s also the easiest to understand. While the proportion of your loan that is amortized will increase each month (versus interest on the balance), you still pay the same amount every month. Your interest rate is locked in when you close on the loan, so you aren’t vulnerable to sudden increases in interest rates.

Fixed-rate mortgages ordinarily require a 20% down payment (or that you pay for mortgage insurance) and are most often offered for 10-, 15- or 30-year terms, with the latter being the most popular choice. Longer terms generally mean lower payments, but they also mean it will take longer to build equity in your home. You will also pay more interest over the life of the loan.

The BestCashCow mortgage calculator is a great way to examine the amortization schedule that you will have for different fixed rate mortgage lengths and balances (hyperlink-

Adjustable-rate mortgages (ARMs)

Typically, ARMS offer lower initial interest rates, and sometimes lower initial payments than fixed rate mortgages, making it easier for a wider range of people to qualify for better homes. The interest rate remains constant for a certain period of time, most commonly 7 or 10 years although shorter and longer terms are often available. Generally, the shorter the period, the better the rate — then rises and falls periodically according to a financial index.

ARMs offer a fantastic opportunity for homeowners to get rates lower than would be available in a fixed rate product, and are ideal for those who are not planning to be in the home for more than the term for which rates are fixed, or those who will be able to pay off the mortgage should rates rise. If you don’t fit that criteria, you run that risk of your ARM beginning to adjust when interest rates are climbing in which case your payments could be adjusted upwards quite sharply. While most products have terms limited them to more than a 2% annual increase (or decrease), given that interest rates on fixed products are currently so low, you may find yourself several years out regretting that you did not lock into a fixed rate product.

Interest-only mortgages (IOs)

Interest-only mortgages are technically a type of ARM on which only the interest is charged each month, but the outstanding loan amount does not begin to amortize until after the interest-only period (usually 5 years). These mortgages are compelling because they allow home buyers to pay only interest for a certain period at the beginning of the loan, keeping payments as low as possible. They can be a good choice for someone who expects a significant increase in income down the pike, but they are the worst choice for those seeking to build equity in their homes. They can also lead people to mistakenly buy more expensive homes than they can afford. Once the interest-only payment period is up, your payment can jump significantly when you begin to pay the principal of the loan, plus you can experience a rate increase.

FHA and VA loans

FHA and VA loans are government-backed mortgages. FHA loans require much smaller down payments than their conventional counterparts and can often be good option for those with a steady, healthy income without enough savings for a huge down payment (often as little as 2.5% down). The drawback of FHA loans is that you will likely be responsible for mortgage insurance each month in order to help the lender blunt some of the risk. VA loans are also available to those with a military affiliation and offer with low (or even no) down-payment options, minus the mortgage insurance required on FHA loans. However, the VA typically charges a one-time funding fee that varies according to down payment amount.

  • Orlando Marquez

    October 28, 2015

    Home Equity Line of credit from First Niagara

    Rate as low as 3.74% APR
    1.99% intro fixed APR for first 6 billing cycles (promo ends 11/27/2015)
    call me at 203.789.2599 ask for Orlando Marquez or
    email me:
    servcing the areas of CT and NY

  • Suzie johnson

    September 21, 2015

    Looking for a low interest 0 closing heloc

  • Gary Schneider

    September 16, 2015

    Looking for a HELOC on a 2nd home in Wisconsin (IL resident). Excellent credit score. $200,000 line results in 50% LTV

  • Cynthia Wood

    September 14, 2015

    I am looking to place a home fixed home equity line of credit. I do not have a mortgage and my credit score is 720. Value of my home based on current market $1,750,000.

  • Thomas Munson

    August 13, 2015

    Looking for a HELOC on a new purchase My closing date is 8/22/2015. Excellent credit! Do I have to wait six months to receive my hello after closing? my zipped is 29575

  • Stephanie

    August 10, 2015

    Looking for a heloc with past history of BK 8 years ago. Will anybody be able to do this? Already been turned down my us bank.

  • Nicholas Hollifield

    July 23, 2015

    Come see me at Republic Bank 4921 Brownsboro Rd. before September 30th 2015 and I will give you $0 closing costs and an intro rate of 1.99% for 12 months. Direct Line: 502-420-1847

  • Inna Hannan

    June 03, 2015

    Looking for a home equity line of credit.

  • Mo/Donna Davis

    September 20, 2013

    Interested in Merchants Bank rates

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