Choice Home Equity Line of Credit

Show You Home Some Extra Love

You recognize the benefits of using your home's equity, and 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 for 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 4/29/2024 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 Offer may be withdrawn at any time.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.