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You've invested in your home. Now, put it to work for you. Get access to the cash you need to give your front a facelift, build a backyard oasis, afford a major life milestone or just consolidate debt. It's your money and it's there when you need it.

Home Equity Line of Credit

Use a Home Equity Line of Credit any time for any reason - like when you need a pool of cash for a new pool. The interest on your HELOC may be tax deductible. Just be sure to consult your tax advisor.
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Features

  • 20 year draw period
  • Minimum loan amount $10,000
  • Competitive low rates
  • No closing costs for loan amounts up to $250,000
  • Interest Only Option Available*

For the initial 60 months of the loan term, the minimum monthly payment will be equal to the interest accrued during the billing period, plus other fees. You may obtain credit line advance during the first 60 months only. This minimum interest payment will not reduce the principle balance outstanding on the line. During this period, your monthly payment may increase or decrease based on the variable interest rate. Beginning in month 61, after the draw period and interest only payment period ends, you will be required to pay principal and interest each month. You will have the ability to repay the outstanding balance over 15 years, your minimum payment will equal 1/180th of the outstanding principle balance, plus finance charges that accrued over the billing cycle, plus any other fees. During this 15 year repayment period, your monthly payment may increase or decrease based on the variable interest rate for each billing period. The interest rate will not exceed 18.00%.

Fixed Rate Home Equity Loan

A Fixed Rate Home Equity Loan is a great option when you want to borrow a specific amount. The interest from your Home Equity Loan may be tax deductible. Just be sure to consult your tax advisor.

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Features

  • Flexible terms available in 5, 10, 15 and 20 year repayment options
  • Minimum loan amounts from $10,000
  • Fixed monthly payments
  • Competitive low rates
  • No closing costs for loan amounts up to $250,000

For the initial 60 months of the loan term, the minimum monthly payment will be equal to the interest accrued during the billing period, plus other fees. You may obtain credit line advance during the first 60 months only. This minimum interest payment will not reduce the principle balance outstanding on the line. During this period, your monthly payment may increase or decrease based on the variable interest rate. Beginning in month 61, after the draw period and interest only payment period ends, you will be required to pay principal and interest each month. You will have the ability to repay the outstanding balance over 15 years, your minimum payment will equal 1/180th of the outstanding principle balance, plus finance charges that accrued over the billing cycle, plus any other fees. During this 15 year repayment period, your monthly payment may increase or decrease based on the variable interest rate for each billing period. The interest rate will not exceed 18.00%.

Let us help you

For more information about OceanFirst products and services, please e-mail us your questions, visit your local branch, or give us a call at 1.888.623.2633.