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Home Equity Loan

Home Equity Loan is best used for home improvements, educational expenses; just about any large expense.
​Good for when you know exactly how much you need.

Rate type: Fixed
Amount you may borrow: 10,000 to 500,000*
Terms: Up to 30 years
Availability: New York and New Jersey

Home Equity Loan

Home Equity Loan is best used for home improvements,
​educational expenses; just about any large expense.
​Good for when you know exactly how much you need.

Rate type: Fixed
Amount you may borrow: 10,000 to 500,000*
Terms: Up to 30 years
Availability: New York and New Jersey


Whether you need 

home or help pay for

of Credit can help.

to remodel your

Home Equity Line of Credit

Home Equity Line of Credit is best used for home improvements, educational expenses; just about any expense large or small. Borrow only what you need when you need it; good for when you're not sure exactly how much you'll need or when.

Rate type: Variable and adjusts monthly with the Prime rate as published in the Wall Street Journal.
Amount you may borrow: 10,000 to 500,000*
Terms: Up to 10 years
Availability: New York and New Jersey
A Home Equity Loan is a type of loan for existing homeowners, where a borrower uses the equity from their home as collateral.  The loan is often a much shorter term than a traditional first mortgage, and creates a second lien on the house that reduces the homes equity.  The loan is often used to finance major life expenses such as home improvements and repairs, college tuition, medical bills, etc.  These types of loans are often referred to second mortgages, because they are secured against the overall value of the home.  There are two types of equity loans: a Home Equity Line of Credit (HELOC) and a traditional Home Equity Loan.

The difference between a Home Equity Line of Credit (HELOC) and a Home Equity Loan is that the HELOC is open-ended, meaning it is revolving while a Home Equity Loan follows a more traditional first lien and is closed ended.  When a homeowner needs extra cash, they can simply draw from the line of credit.  The borrower can choose how often to borrow against the equity in their property up to a certain, predisposed limit. 

Home Equity Line

a low rate

Home Equity Line of Credit

Home Equity Line of Credit is best used for home improvements, educational expenses; just about any expense large or small. Borrow only what you need when you need it; good for when you're not sure exactly how much you'll need or when.

Rate type: Variable and adjusts with the Prime rate as published in the Wall Street Journal.
Amount you may borrow: 10,000 to 500,000*
Terms: Up to 10 years
Availability: New York and New Jersey

Investors Bank has over 150 locations throughout New Jersey and New York.

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1. To obtain this Annual Percentage Rate (APR) you must have your monthly payment automatically debited from an Investors checking Account, otherwise the rate is 0.25% higher.  The rate for a Home Equity Line of Credit is 3.25% APR for the first twelve months after closing.  After the twelve month introductory period, the interest rate will be variable.  Investors Home Equity Line of Credit has a variable rate feature during the 10-year draw period, and as a result, the APR and minimum payment can change monthly.   An annual maintenance fee of $50 will be charged on the anniversary of the loan’s origination date.  For New York properties, Investors Bank will pay all Mortgage Recording Tax fees for loans with balances up to $500,000.  Periodic adjustments include only interest and no other costs.  During the draw period you are required to make payments of interest (although you may also make payments of principal).  During the repayment period beginning in year 11, you must begin making payments of principal and interest at the 15-year Fixed Home Equity rate in effect at that time.  You will be notified of your change in rate and your new monthly payment for the remaining period of your loan 45 days prior to the due date of your new monthly payment.  During the draw period the annual percentage rate is based on the Prime Rate index as published in the Wall Street Journal.  Please ask us for the current index value, margin, discount or premium and annual percentage rate.  Interest rate information will be provided on your monthly billing statements.  At no time will your rate exceed 15%.  Offer available for owner-occupied 1 to 4 family homes in NJ and NY.  All loans subject to credit approval.  Annual Percentage Rate is effective as of September 1, 2016 and is subject to change at any time.  Other terms and conditions may apply.  This offer may be withdrawn at any time. 

Copyright @ Investors Bank.  Investors Bank Name and the Weave logo are registered trademarks of Investors Bank. All rights reserved. NMLS #411729. Mortgage Loans provided by Investors Home Mortgage, a wholly owned subsidiary of Investors Bank, and licensed by the NJ Department of Banking and Insurance and the NY Department of Financial Services. NMLS #60061