Do more with your home’s equity with an Investors low variable rate Home Equity Line of Credit.

 

Plus you can:
  • Borrow from $25,000 to $750,000
  • Pay interest only on the amount you use
  • Up to 75% Loan To Value available
  • Available to New Jersey and New York homeowners, and Pennsylvania homeowners in select counties
  • And more.   
Whether you need to remodel your home or pay for life’s special moments, a low variable rate Home Equity Line of Credit can help.
 

To apply, download an application, call the NICE Center, or request an appointment in a branch.



1 To obtain this Introductory Fixed Rate you must have your monthly payment automatically debited from an Investors’ checking account, otherwise the rate is .25% higher. To obtain this Introductory Fixed Rate, you must also perform a draw in the amount of $25,000.00 at closing.  If the funds are used to pay off any Investors Bank debt, the promotional rate will not apply.  If you do not take the draw in the amount of $25,000.00 at closing, the rate will revert to the tiered interest rate structure based on the approved loan amount. The rate for a home equity line of credit is 3.75% for the first nine months after closing with auto debit from an Investors Bank checking account. After the nine 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 annual percentage rate (APR) and the 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 Jersey and Pennsylvania Properties, Investors Bank will pay all costs incurred to originate this HELOC up to the first $500,000. If the HELOC is terminated within 24 months from the date of loan closing borrower will be required to pay an Early Termination Fee of $450.00. For New York properties, Investors Bank will pay all costs incurred to originate this HELOC up to the first $500,000. If the HELOC is terminated within 24 months from the date of loan closing, borrower is required to pay an Early Termination Fee of $450.00 and reimburse lender the New York State mortgage recording tax fee including the 0.25% lender’s portion of the mortgage recording tax fee. 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 an index. The index used is the Prime Rate 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 , NY and PA. All loans subject to credit approval. Annual Percentage Rate is effective as of Febuary 1, 2020 and is subject to change at any time. Other terms and conditions may apply.

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