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

October 17, 2018 Average Rate: 6.37%

Lender Rate (%) Monthly Payment Learn More
4.240
$245.68 Learn More
5.490
$283.58 Learn More
Banco Popular
Updated 10/10/2018
6.750
$574.12
Webster Bank
Updated 10/17/2018
6.740
$573.86
Wells Fargo
Updated 10/17/2018
6.500
$567.74
Santander Bank
Updated 10/17/2018
5.500
$542.63
Columbia Bank
Updated 10/17/2018
5.250
$536.46
PenFed
Updated 10/17/2018
5.250
$536.46
Capwest Mortgage Corp.
Updated 10/17/2018
5.250
$536.46
BB&T
Updated 10/17/2018
5.490
$542.38
Pentagon FCU
Updated 10/17/2018
5.250
$536.46
Sovereign Bank
Updated 10/17/2018
6.250
$561.4
PNC
Updated 10/17/2018
5.970
$554.35
State Farm Bank
Updated 10/17/2018
7.100
$583.12
Chase
Updated 10/17/2018
6.760
$574.38
Bethpage FCU
Updated 10/17/2018
6.250
$561.4
Navy FCU
Updated 10/17/2018
6.000
$555.1
HSBC
Updated 10/17/2018
7.125
$583.77
Hudson City Savings Bank
Updated 10/17/2018
6.440
$566.21
M&T Bank
Updated 10/17/2018
6.440
$566.21
Fulton Bank of New Jersey
Updated 10/17/2018
5.500
$542.63
Corporate America Family CU
Updated 10/17/2018
5.000
$530.33
Valley National Bank
Updated 10/15/2018
5.250
$536.46
Bank of America
Updated 10/17/2018
7.430
$591.68

Data from above provided by Informa Research Services, Inc.

NASSAU EDUCATORS
Updated 08/10/2018
Restrictions
0.99 Varies
Armed Forces Bank, National Association
Updated 08/20/2018
1.99 Varies
CITADEL
Updated 08/12/2018
Restrictions
2.49 Varies
Wilmington Savings Fund Society, FSB
Updated 08/20/2018
2.99 Varies
Lakeland Bank
Updated 08/20/2018
2.99 Varies
Boiling Springs Savings Bank
Updated 08/20/2018
2.99 Varies
Spencer Savings Bank, SLA
Updated 08/20/2018
2.99 Varies
AFFINITY
Updated 08/10/2018
Restrictions
2.99 Varies
UNITED NATIONS
Updated 08/10/2018
Restrictions
2.99 Varies
Investors Bank
Updated 08/08/2018
3.24 Varies
Fulton Bank of New Jersey
Updated 08/08/2018
3.34 Varies
Bank of America, National Association
Updated 09/06/2018
3.49 Varies
BB&T
Updated 10/17/2018
3.74 Varies
Cathay Bank
Updated 09/06/2018
3.88 Varies
ATLANTA POSTAL
Updated 08/12/2018
Restrictions
4.00 Varies
ALLIANT
Updated 08/12/2018
Restrictions
4.25 Varies
Kearny Bank
Updated 08/20/2018
4.50 Varies
Santander Bank, N.A.
Updated 08/20/2018
4.50 Varies
DIGITAL
Updated 08/08/2018
Restrictions
4.75 Varies
U.S. Bank National Association
Updated 08/20/2018
4.99 Varies

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 BestCashCow 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 may include discounts. Rates are subject to change without notice.

Home Equity Line of Credit (HELOC) Rates

Home equity lines of credit (HELOCs) are loans secured against the equity in your home, They are typically less costly and more flexible than home equity loans.  Since they are lines of credit, the borrower only draws the amount that they need and only pays interest on that amount. The amortization schedule ordinarily does not require payback of the principal drawn until year 10 (HELOCs are, therefore, technically “interest only” loans until that time).

HELOC lenders will lend up to 90% the value of the equity in your home and the typical HELOC line is from $200,000 up to $500,000.

How to Find the Best HELOC Rate

As you see in the table above, the pricing of a home equity line of credit varies from lender to lender.  HELOC rates are based on the prime lending rate (“prime”) - the rate that commercial banks charge their most creditworthy customers.  Most lenders add on a margin above the prime rate. The average HELOC rate is 6.37%.

Risk to HELOCs

HELOC rates fluctuate. Repayment terms are tied to the prime lending rate and that rate is likely to move up – perhaps dramatically - over the next few years as the Federal Reserve raises the Fed Funds rate. A 10-year home equity loan or a 15-year home equity loan, however, may be a safer option at this time. Depending on your personal circumstances, you should also consider mortgage refinance options.

Products by State