Home Equity Home Loans 

Whether you want to make home improvements, purchase a new car, consolidate debt, finance your child’s education or want to plan a well-deserved vacation, Boiling Springs Savings Bank has the right loan for you. We offer a variety of suitable options to allow you to use your equity to meet your personal goals.

Home Equity Line of Credit

Write any check when you need it. A Home Equity Line of Credit is the loan for you.

If you would like to apply using a paper application. Please Download.

Product Description                        APR                                 Current APR

Home Equity Line of Credit             3.490% for the 1st 12 months                            4.500%

Offer is for qualified borrowers, subject to credit approval.  The minimum loan amount is $10,000.  This promotional rate offer does not apply to refinances of existing BSSB home equity lines of credit. Limited to primary owner-occupied NJ 1-4 family residences. First or Second Lien Position, up to $500,000, with a combined Loan to Value (CLTV) of 80% and 75% CLTV for Condominiums. The initial APR (APR=Annual Percentage Rate) is 3.49% which is "discounted".  It is not based on the index and margin used to make later rate adjustments.  During the billing cycle in which the line of credit is originated and the 12 complete billing cycles of the Draw Period will the rate be fixed at the initial discounted APR.  After you have had 12 completed billing cycles at the fixed rate, we will determine the APR for the remainder of the Draw Period and Repayment Period by subtracting the margin from the index value. A fixed rate will no longer apply.  Thereafter, the rate  be set on the 1st of each month at the Prime Rate published in the Wall Street Journal (WSJ) on the last business day of the previous month, minus 1.00% (rounded to the nearest .125%), adjusted monthly until maturity, subject to a rate floor of 3.750% and a rate ceiling of 15.000% representing the Maximum possible APR. As of 12/20/18 the Wall Street Journal Prime Rate = 5.500%; thus the current APR is 4.500%. Payments do not include applicable taxes and insurance, which, if applicable, will make your payment obligation greater. Property insurance required. Flood insurance may be required. An Early Termination Fee of $500 will be charged if the account is paid in full and closed within the first 18 months of origination. A Dormancy Fee of $50.00 will be charged if the account remains inactive for a period of 12 consecutive months. Interest may be tax deductible; consult with your tax advisor. No Application Fee or Closing Fee. Rates and terms are subject to change without notice. All loans are subject to credit approval. Offer subject to change. Certain other restrictions may apply. APR = Annual Percentage Rate

Home Equity Fixed Rate Loans

A Home Equity Loan is a great way to take advantage of the equity you have established in your home. It allows you to borrow at a fixed rate under a number of different terms to meet your budget.

If you would like to apply using a paper application. Please Download. 

Rates as of Monday, February 11, 2019

Product DescriptionInterest RatePointsAPRPayment per $1,000Payments
Home Equity Fixed Rate Loan
20 Year Fixed4.850%0.0004.850%$6.52Show Payments
15 Year Fixed4.730%0.0004.730%$7.77Show Payments
10 Year Fixed4.500%0.0004.500%$10.36Show Payments
7 Year Fixed4.280%0.0004.280%$13.80Show Payments
5 Year Fixed4.000%0.0004.000%$18.42Show Payments

APR=Annual Percentage Rate. The minimum loan amount is $10,000. Property must be an owner-occupied 1-4 family home in Northern New Jersey. Property Insurance required. Flood Insurance may be required. Rates and terms are subject to change without notice. All loans are subject to credit approval. Loans up to $500,000. No Application Fee or Closing Fee.