Choice Home Equity Line of Credit

Show Your Home Some Extra Love

Amboy Bank’s Choice Home Equity Line is an “all-purpose” loan for today’s smart homeowner. Use it to update your kitchen, add a deck, or anything else you'd like. It can start as a line of credit at just 6.50% APR* for 12 months, but it can be converted to a fixed rate loan whenever it's best for you! Plus, we can support different payments to suit your budget.

Choice Home Equity Features:

  • Available for almost any expense - home improvements, credit card consolidation, car purchase, education, etc.
  • One easy application form with fast approval (usually within 3 business days)
  • Ongoing access to the line as you pay your line or loan back
  • Easy borrowing. Just write checks to borrow on credit line
  • Convert part of your balance to a fixed rate loan with a simple phone call (up to 3 loans totaling $100,000)
  • Interest may be tax-deductible (consult your tax advisor to be sure you qualify)

Terms & Conditions *Introductory (“Intro”) Annual Percentage Rate (APR) of 6.50% in effect for the first 12 months on balances up to $100,000, with an initial minimum draw of $10,000. During the Intro period, the portion over $100,000, and on all balances after the Intro period, the APR will be Prime plus .50% and may change daily. Prime is highest rate published daily by WSJ. Prime as of 12/4/2023 is 8.50%. Lifetime rate floor is 4.00% APR, lifetime cap is 12.99% APR. Min. Line is $15,000, max. $100,000. Annual Fee of $35 waived for the first year. Early termination fee applies if loan is closed in first two years. Available on owner-occupied 1-4 family NJ residences only. Property insurance is required. Offer may be withdrawn at any time. Subject to credit approval. Additional terms may apply.