Fixed Home Equity Loans
Home Equity Loan Rules
- Owner-occupied residential properties.
- Loans up to 80% of the property value (less first mortgage).
- Loan amounts limited to $225,000.00 fixed rate.
- Minimum loan amount $5,000.00.
Home Equity Loan Costs
- Property insurance required.
- No application fee.
- If disbursement is used to pay off a mortgage, the cost of delivery will be charged: $10.00 to $25.00.
- For fixed-rate home equity loans, interest from date of disbursement to the end of the month is due at settlement.
Rates may change at any time.
All loans subject to credit approval.
Please print out, read and complete each form listed below carefully and sign where necessary.
- Complete in full and sign the Universal Residential Loan Application.
- Complete in full the Borrower Identification Form.
- Complete in full the Co-Borrower Identification Form.
Along with the above documents please submit:
- TWO MOST RECENT W-2(s), Earnings Statement(s) and/or Tax Returns.
- Self-Employed Borrowers THREE YEARS Business and Personal Tax Returns.
- TWO MOST RECENT Pay Stub(s)/Statement(s)
- Self-Employed Borrowers MOST RECENT Financial Statements.
- Homeowners Insurance Policy Declaration Pages.
- Evidence of Flood Insurance (For properties located in a flood hazard zone).
- MOST RECENT Property Tax Bill or Statement.
Please Note: You will need to have Adobe Acrobat Reader to print out the above documents. If you do not have it installed, you may obtain it free by clicking here.
The maximum loan is $200,000.00.
This home equity loan and your first mortgage balance cannot exceed 80% of the value of your home.
Our primary lending area is South Jersey. Loans outside this lending area will be considered on a case-by-case basis.
Home Equity Loan Rates
Current Product Rates 10/16/2019-10/22/2019