Home Equity Line of Credit
A revolving line of credit with a variable rate, allowing advances when you need them.
- Receive 0.25% below current Prime Rate variable for 6 Months*
As low as prime rate variable thereafter.*
- Minimum Line of Credit Amount is $10,000
- Competitive interest rates
- No application fee
Please contact your local Customer Service Representative to apply! 609.921.1700
* APR denotes Annual Percentage Rate. To receive the Exclusive Promotional Offer of 0.25% less than the Prime Rate for 6 months beginning at account opening, automatic debit must be setup from a checking account held at The Bank of Princeton. Offer valid on CONSUMER CHECKING ACCOUNTS ONLY. After the promotional 6 months, APR will be Prime Rate with automatic debit or Prime + .50% without automatic debit. The minimum ‘floor rate’ is 3.99% APR and the maximum ‘ceiling rate’ is 16.00% APR. Wall Street Journal Prime Rate 4.00% current as of 05/18/2022. Rate/APR are variable.
Home Equity Line of Credit promotion applies to loans up to 80% Loan to Value (LTV) for owner occupied 1-4 family residential property(ies) secured by a first or second lien in NJ or PA. The credit line has a 5 year draw period, 15 year repayment period. Early termination fee if paid off or refinanced with another lending institution within 24 months of settlement; $200 for loan amounts $20,000 and less; $400 for loans greater than $20,000. Borrowers are responsible for mortgage recording fee. Title Insurance may be required. Hazard Insurance required. Flood Insurance may be required. Offer subject to credit approval. Promotion begins 9:00AM EST May 31, 2022. Promotion subject to change or cancellation without notice.