Personal Banking

Home Equity Fixed Rate Loans

Use the equity in your home for home improvements, mortgage refinancing, debt consolidation, college tuition, a vacation or any other purpose.

NJM Bank offers Home Equity Fixed Rate Loans at competitive rates with repayment periods from 12 months to 240 months.

NJM Bank Home Equity Fixed Rate Loans feature:

No fees - no application fees, appraisal fees, closing costs or points to pay.
No escrows on first-lien loans. Borrowers pay their own real estate taxes, homeowners insurance and flood insurance (where required).

NJM Bank's Savings for the Future deposit account can serve as a great tool to help you set aside funds to pay taxes and insurance.
Borrow up to 80% of your home's value, less any outstanding mortgage, in amounts from $10,000 to $200,000.
Loans available in a first lien or second lien position. (Note: Lower rates are available when a home equity loan is the first lien on the property).
A 0.25% annual interest rate reduction for electronic debit directly from an NJM Bank checking account. NJM Bank also provides an additional 0.25% interest rate reduction if you arrange for Direct Deposit of at least $100 per month of your pay, Social Security, or pension into the NJM Bank checking account from which your loan payment is direct debited.

Plus, the interest you pay on your home equity loan may be tax deductible. (Consult your tax advisor regarding the deductibility of interest).

View current Home Equity Rates & Policy. Or if you're ready Apply Now online.

Call one of our loan representatives at 1-877-NJM-BANK (1-877-656-2265) , Extension 3737 for additional details.