7.00% > APR[1]
12-Month Fixed Introductory Rate
8.25% > APR[1]
Variable Rate Thereafter
Borrow the money you need, when you need it, up to your credit limit.
7.125% > APR[2]
15-Year Fixed Rate First Lien
Lock in a low fixed interest rate today.
Additional rates and terms are available.
The funds you need are right here at home! Tap into your home's equity, hang onto your current mortgage rate, and keep your payments separate with a Home Equity Loan or Line of Credit from Lakeland Bank.
Reap the benefits of the equity you’ve built in your home to tackle a home renovation, pay for education expenses, consolidate debt and more - all at a rate much lower than most credit cards or personal loans.
Ask about our Home Equity Advantage Program* to see how we can help you save on your Home Equity Loan.
Unlock the power of your home! Use this simple calculator to estimate how much you can borrow.
Home value
Total loan-to-value (LTV)
Current mortgage balance
Available line of credit
| Topic | Home Equity Line of CreditVariable rate line of credit, secured by your home, with the option to borrow only what you need, when you need it, up to your credit limit | Home Equity LoanA fixed interest rate loan, secured by your home, to finance a specific amount for a definite period of time |
|---|---|---|
Accessing Your Funds | Simply access funds as needed through Online or Mobile Banking or HELOC checks | Receive your funds in one lump sum |
Payments | Flexible monthly payments during the 10 year draw period; choose between interest only or principal + interest payments | Predictable fixed monthly payments of principal + interest for the life of the loan |
Features & Benefits |
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This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.
1 Annual Percentage Rate effective as of 11/20/23 and may change at any time. Introductory 7.00% APR is fixed for 12 months and variable thereafter. Variable APR equal to the Wall Street Journal Prime Rate (Prime currently 8.50%) minus 0.25% (currently 8.25%) with a minimum APR of 3.25% and a maximum APR of 15%. All lines are subject to credit approval. APR applies to lines $10,000 to $1,000,000 on 1-4 family owner occupied primary residences located in NJ and PA (loan-to-value (LTV) ratio cannot exceed 80%); and lines up to $1,000,000 on owner occupied condominiums (LTV ratio cannot exceed 75%). Co-ops, vacant land and properties currently listed for sale or have been listed for sale within the prior 90 days are not eligible. Other rates and terms are available. Appraisal fees apply for lines over $500,000, or when liens exceed $1,000,000 on subject property and typically range from $300 to $1,500. $400 fee if Line is canceled within the first 36 months. NJ and PA residents will be charged a $75 mortgage recording fee at the time of closing. Homeowner’s property insurance is required; flood insurance may be required. Title insurance may be required on loans over $750,000.
2 Annual Percentage Rate effective as of 11/20/23 and may change at any time. APR includes a .25% rate discount for payments automatically debited from a Lakeland Bank personal checking or savings account. APR applies to loans in first or second lien position up to $1,000,000 in NJ and PA on 1-4 family owner-occupied primary residences (loan-to-value (LTV) ratio cannot exceed 80%); and loans up to $1,000,000 on owner-occupied condominiums (LTV ratio cannot exceed 75%). Co-ops, vacant land and properties currently listed for sale or have been listed for sale within the prior 90 days are not eligible. Appraisal fees apply for lines over $500,000 or when liens exceed $1,000,000 on subject property and typically range from $300 to $1,500. NJ and PA residents will be charged a $75 mortgage recording fee at the time of closing. Homeowner's property insurance is required; flood insurance may be required. Payment example: At 7.125% APR, 180 monthly payments of $9.06 per $1,000 borrowed. Title insurance may be required on loans over $750,000. Other rates and terms are available. All loans are subject to credit approval.
* Borrowers who meet property location and income limitation requirements may be eligible for a rate discount. Eligibility will be determined based on your verified total annual household income and property location when you submit a Home Equity Loan application. Eligible properties must be located within Lakeland Bank's CRA Assessment Area which includes various counties in New Jersey and New York. For income limits and each covered county, visit LakelandBank.com/rates/loan-rates.
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.
1 Annual Percentage Rate effective as of 11/20/23 and may change at any time. Introductory 7.00% APR is fixed for 12 months and variable thereafter. Variable APR equal to the Wall Street Journal Prime Rate (Prime currently 8.50%) minus 0.25% (currently 8.25%) with a minimum APR of 3.25% and a maximum APR of 15%. All lines are subject to credit approval. APR applies to lines $10,000 to $1,000,000 on 1-4 family owner-occupied primary residences (loan-to-value (LTV) ratio cannot exceed 80%). Co-ops, vacant land, and properties currently listed for sale or have been listed for sale within the prior 90 days are not eligible. Other rates and terms are available. Homeowner’s property insurance is required; flood insurance may be required. Title insurance may be required on loans over $750,000.Third-party fees are paid by the bank for lines up to $250,000, and include but are not limited to, mortgage recording tax, mortgage recording fee, appraisal/property valuation fees, credit report, flood and property searches. If the line is terminated and closed within 36 months of opening, the borrower will be required to reimburse the bank any third-party fees that were paid in connection with this line. These third party fees can range between $327 and $9,200. Currently limited to the following counties in New York: Orange, Rockland, Westchester, Dutchess, Ulster, Sullivan and Putnam.
2 Annual Percentage Rate effective as of 11/20/23 and may change at any time. APR includes a .25% rate discount for payments automatically debited from a Lakeland Bank personal checking or savings account. APR applies to loans $10,000 to $1,000,000 on 1-4 family owner-occupied primary residences (loan-to-value (LTV) ratio cannot exceed 80%); Co-ops, vacant land or properties currently listed for sale or have been listed for sale within the prior 90 days are not eligible. Payment example: At 7.125% APR, 180 monthly payments of $9.06 per $1,000 borrowed. Other rates and terms are available. All loans are subject to credit approval. Homeowner's property insurance is required; flood insurance may be required. Title insurance may be required on loans over $750,000. Third-party fees are paid by the bank for loans up to $250,000, and include but are not limited to, mortgage recording tax, mortgage recording fee, appraisal/property valuation fees, credit report, flood and property searches. If the loan is terminated and closed within 36 months of opening, the borrower will be required to reimburse the bank any third-party fees that were paid in connection with this loan. These third party fees can range between $327 and $9,200. Currently limited to the following counties in New York: Orange, Rockland, Westchester, Dutchess, Ulster, Sullivan and Putnam.
* Borrowers who meet property location and income limitation requirements may be eligible for a rate discount. Eligibility will be determined based on your verified total annual household income and property location when you submit a Home Equity Loan application. Eligible properties must be located within Lakeland Bank's CRA Assessment Area which includes various counties in New Jersey and New York. For income limits and each covered county, visit LakelandBank.com/rates/loan-rates.
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