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HOME EQUITY LINE OF CREDIT

Convert the equity in your home into cash with this variable rate loan. You may borrow up to 80% of the appraised value less any outstanding balance of your first mortgage. Now's the time to finance home projects or consolidate those debts at one low, low rate! Qualify now, and draw the funds as you need them. Interest doesn't accrue until you draw the money. Use your line when and how you choose!

The variable rate is prime +.50% with a floor of 4.00% and initial rate cap of 8.00%, as published in the Wall Street Journal. Other requirements include a recording fee that can range from $36.50 to $126.50 based on the county and state where the property is located. Property insurance is required. If the collateral is located in a designated flood hazard area, flood insurance will also be required.

Your monthly payment is 1/180th of the outstanding principal as of the last day of the billing cycle plus accrued interest.

Before you apply, you'll need to gather up the following information:

Employment and income information
Estimated value of your property
Property Taxes and Insurance amounts
Name and balance of your current mortgage
Names and balances of any other debts you want to payoff

See how much you'll save if you borrow from us!

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APPLY NOW!

GCF will obtain a credit report, Flood Certification and an Automated Property Evaluation (AVM) at NO CHARGE. However, if a drive-by appraisal is needed to obtain value, a fee ranging from $150.00 to $225.00 will be assessed. If the drive-by appraisal is necessary, we will contact you for before proceeding.

Closing can take place anytime, anywhere! If you do not close in one of our bank branch offices, a closing fee of $150.00 will be charged.

Check out or other loan products!

Variable rate based on prime as published in the Wall Street Journal may increase after loan consummation. Lifetime APR will not exceed 8% over the initial rate. All stated rates require an 80% or less combined-loan-to-value (CLTV) ratio. Recording fee of $36.50 to $126.50 based on the county and state where the property is located applies. Closing fee of $150.00 applies to NJ properties if loan is not closed in a branch of GCF. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. If you close your line of credit within 12 months of the date upon which it is opened, you will be required to pay an early account closure fee of $250.00.