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Home Equity Lines of Credit (HELOC)

Use the equity in your home to find solutions to your everyday needs.

Home Equity Line of Credit (HELOC)

Use the equity in your home to pay for whatever life brings your way! Make your home work for you with a NJFCU Home Equity Line of Credit (HELOC).

Rates as low as 8.50%*

Benefits:

  • Reduce your interest rate
  • Lower your monthly payments
  • Shorten the term of your loan
*Appraisal fees will apply.

Great HELOC rates as low as

Rates as low as 8.50%*

Variable annual percentage rate (APR) is calculated based on the Prime Rate as posted in The Wall Street Journal. The current WSJ Prime Rate is 8.50% as of 7/27/2023. HELOC is a variable rate product with a Max Rate of 18.000% and a Minimum Rate of 3.000%. Margins are set based on the risk associated with the loan and an individual’s or joint credit history. Minimum line of credit is $25,000. NJFCU Home Equity Line of Credit (HELOC) is available for one to four family structures. Finance charges begin to accrue from the day of the initial advance. The initial draw period is for eight (8) years, the full repayment period is over 15 years. Initial draw must be a minimum of $5,000 and a minimum of $250 for additional draws. Homeowner’s insurance is required; flood insurance is required where applicable. Consult a tax advisor regarding the deductibility of interest. Rates are subject to change. The introductory rate of (8.50%), the Annual Percentage Rate (APR) is a promotional rate and will not change until the first day of the 13th month after the day of the loan closing. If the promotion were not in effect, the Annual Percentage Rate would be 8.50%; margins are set based on the risk associated with the loan and an individual’s or joint credit history. After the promotional period, the loan will become a variable-rate loan and the interest rate and payment may change. The interest rate is based on the highest prime rate published in the Wall Street Journal. On July 27, 2023, that prime rate was 8.50%. The floor rate at the end of the initial 12-month period will be 3.00%, the rate will never exceed 18.00%. This offer cannot be combined with any other promotions. Promotion can expire at any time.

Rates Effective as of September 1st, 2023

North Jersey FCU reserves the right to change the rates without notice if necessary. There are times when this update may be experiencing technical difficulties and may not be able to be updated in a timely fashion. APR = Annual Percentage Rate. Restrictions may apply. Rate determined by credit score. Other rates may apply. We attempt to keep this page as updated as possible. However, from time to time system maintenance and other circumstances may prevent us from doing so. Therefore any rates quoted on this web page are subject to change. We are not financially responsible for typographical errors.

Home Equity Lines of Credit Rates

TermsAPR* (Annual Percentage Rate)
8 year draw period, 15 year repayment periodas low as8.50%*
Variable annual percentage rate (APR) is calculated based on the Prime Rate as posted in The Wall Street Journal. The current WSJ Prime Rate is 8.50% as of 7/27/2023. HELOC is a variable rate product with a Max Rate of 18.000% and a Minimum Rate of 3.000%. Margins are set based on the risk associated with the loan and an individual’s or joint credit history. Minimum line of credit is $25,000. NJFCU Home Equity Line of Credit (HELOC) is available for one to four family structures. Finance charges begin to accrue from the day of the initial advance. The initial draw period is for eight (8) years, the full repayment period is over 15 years. Initial draw must be a minimum of $5,000 and a minimum of $250 for additional draws. Homeowner’s insurance is required; flood insurance is required where applicable. Consult a tax advisor regarding the deductibility of interest. Rates are subject to change. The introductory rate of (8.50%) the Annual Percentage Rate (APR) is a promotional rate and will not change until the first day of the 13th month after the day of the loan closing. If the promotion were not in effect, the Annual Percentage Rate would be 8.50%; margins are set based on the risk associated with the loan and an individual’s or joint credit history. After the promotional period, the loan will become a variable-rate loan and the interest rate and payment may change. The interest rate is based on the highest prime rate published in the Wall Street Journal. On July 27, 2023, that prime rate was 8.50%. The floor rate at the end of the initial 12-month period will be 3.00%, the rate will never exceed 18.00%. This offer cannot be combined with any other promotions. Promotion can expire at any time.

Should You Apply for a HELOC?

At NJFCU we strive to help our Members see their homes, become dream homes.

With a Home Equity Line of Credit, you can update your old kitchen, turn that empty bedroom into an office, or even flip your basement! Ultimately. A HELOC can bring more value to your home. You’ll thank yourself later if and when you’re ready to sell.

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For more information, contact our Mortgage Department Call 973-785-9200 ext. 1966 or email: [email protected]

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