HOME EQUITY LOAN OPTIONS**
Use your home’s equity to do what you need.
You can borrow against the equity in your home for debt consolidation, home improvement, education expenses or to make large purchases. We offer low interest rates, on a Fixed Home Equity or a Home Equity Line of Credit. The amount available to borrow will be based on the equity in your home.
Available on primary residences in NJ, NY, PA, DE, MD, VA, SC, FL and CA.
Both our Home Equity Line of Credit and Fixed Home Equity Loans offer:
- No application fees
- No points
- No processing fees
- No prepayment penalty 1
- No closing costs 2
- Optional Disability and Life Coverage. Click here for more information.
Have questions or want to know which type of Home Equity Loan product is best for your needs? Speak to a Novartis Federal Credit Union loan officer at 973-947-1000 Option 2 or stop by our branch.
1. Novartis FCU will waive closing costs at inception of loan. If loan is terminated within 12 months of opening, closing cost waiver is revoked and borrower(s) will be required to pay back closing costs in full to Novartis FCU.
2. Borrowers are responsible for insurance requirements and applicable state, county, city taxes which can be substantial.
** Minimum loan application is $25,000.
Home Equity Loan Features:
- Low, fixed rates
- Flexible terms of up to 15 years
- Variety of fixed repayment options
Home Equity Line of Credit Features:
- Low, variable rates
- A Line you can draw on as needed
- Borrow for 10 Years and repay for last 5 years
Effective Date 5/29/2020, Rates Subject to Change
|Home Equity Line of Credit||VARIABLE APR|
|As Low As Prime Rate( Floor Rate is 2.50%)||3.25%|
|Fixed Rate Second Mortgages||APR|
|Rates as low as||3.25%|
APR = Annual Percentage Rate
* Not all applications will qualify, subject to credit approval. Additional terms & conditions may apply. Actual rate may vary based on credit worthiness and term.