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Unleash the equity in your home.
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 When you need some ready cash, Clifton Savings Bank is right behind you. Whether you're planning a home improvement project, consolidating your bills,
or buying a car, our residential Home Equity Loans are just the answer.
Borrow up to $250,000 at a low fixed rate with a second mortgage, or open a Home Equity Line of credit to have cash available when you need it. Plus, your application fee is refunded at closing. And, we keep all loans in-house, so you're assured of Clifton Savings Bank's personal service.
Check out our powerful calculators to help estimate what size loan you might qualify for or what your monthly payments might be. When you're ready to put the equity in your home to work for you, call our Mortgage
Department at 1-888-LOANS-CS, or
click on the link below to order an
application form. |
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Home Equity Line of Credit
Updated 05/01/2008 |
| Rate: |
5.00%; rate to adjust monthly
to prime rate
(prime rate is currently 5.00%) |
| Points: |
0 |
| APR: |
5.00% |
| Term: |
20 Years (15 year draw period, 5 year repayment period) |
| Rate Caps: |
18.00% maximum /4.50% minimum (no cap per adjustment) |
| Maximum LTV: |
80% 1-4 Family and Condominiums |
| Loan Amounts: |
$250,000.00 maximum / $5,000.00 minimum |
| Minimum Draw: |
$500.00 |
| Application Fee: |
$150.00; this fee will be refunded at closing |
| Property Type: |
1-4 family and condominium; primary residences only |
| Second Mortgages |
| Term |
Rate
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Points
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APR
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Payment per $1000
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Max LTVR
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Max/Min Loan
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20 Year Fixed |
6.625% |
0 |
6.625% |
$7.53 |
80% |
$250,000/$5,000 |
| 15 Year Fixed |
6.375%
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0
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6.375% |
$8.64
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80%
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$250,000/$5,000
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10 Year Fixed |
6.125%
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0
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6.125% |
$11.16
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80%
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$250,000/$5,000
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5 Year Fixed |
5.875%
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0
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5.875% |
$19.27
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80%
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$250,000/$5,000
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1-4 Family & Condominiums: |
80% maximum loan to value ratio. |
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Investment Property: |
70% maximum loan to value ratio / Interest rates 1% higher |
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Second Homes: |
Interest Rate is 1/2% higher / 1 family only. |
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Application Fee: $150 / will be refunded at closing. |
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Rates and terms are subject to change at any time without prior notice. |
Mortgage Glossary - Home Buyer's Vocabulary
When Your Home is on the Line: What You Should Know About Home Equity Lines of Credit
Calculators
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