[1] This Home Equity Line of Credit (HELOC) is available for 1-4 family, owner-occupied properties in New Jersey. Homeowners insurance is required, flood insurance may be required. Maximum loan to value of 75% on combined liens. Total combined liens cannot exceed $1,000,000. Maximum loan to value of 65% on Condominiums. For any loan amount greater than $400,000, the borrower will be required to pay an appraisal fee of $525 to $675, depending on the number of units. Higher fees may apply for complex or remote properties. A mortgage recording fee is due at closing. The fee ranges from $50 to $60 depending on the county where the secured property is located. Maximum credit line is $500,000 and minimum credit line is $25,000 with a minimum draw of $100. During the 10-year draw period there is an annual fee of $75. At the end of the draw period, you will no longer be able to obtain credit advances and must pay any outstanding balance over a maximum twenty (20) year term. If this HELOC is closed and/or paid in full before 24 months, an Early Termination Fee of $500 will be charged. View our rates page for more details. All loans are subject to credit approval.
