Flexible Home Loan Solutions in New Jersey
As a second mortgage lender in New Jersey, County Excellence offers Home Equity Lines of Credit (HELOCs) and Second Mortgage Loans to suit your borrowing needs.
Unlock the Value of Your New Jersey Home with a Home Equity Line of Credit(HELOC)
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home's equity. It gives you the freedom to access funds as needed during a draw period of five years. You only pay interest on the amount you borrow, which is billed monthly. After the draw period, you'll have ten years to repay the remaining balance. The HELOC loan is an adjustable-rate loan based on your credit history and loan to value. Our lowest rate is the Wall Street Journal Prime rate minus 1 percentage point. We have options for qualified borrowers of up to 100% of the loan value when combined with your first mortgage balance.
Ideal for ongoing or unexpected expenses: A HELOC loan is a good option if you need ongoing access to funds for a project or anticipate unexpected costs. Since it's a revolving line of credit, you only pay interest on what you borrow.
Flexibility for budgeting: HELOCs offer flexibility when you don't know the exact amount you'll need upfront. You can access funds as needed during the draw period.
Your Second Mortgage Lender in New Jersey
Our Second Mortgage is a one-time loan with a fixed repayment term of up to 15 years. This option provides predictable monthly payments for easier budgeting. Like our HELOC, the interest rate on our Second Mortgage Loan is adjustable and based on several factors: your credit history, loan-to-value ratio, and the Wall Street Journal Prime Rate.
Consolidation of high-interest debt: If you have high-interest debt, such as credit cards or personal loans, a Second Mortgage can consolidate it into a single loan with potentially lower interest rates. This can simplify your monthly payments and save you money on interest in the long run.
Peace of mind with a fixed repayment term: A Second Mortgage provides a set monthly payment throughout the loan term, simplifying your budget and financial planning. This makes it easier to manage your finances, even though the interest rate on the loan may adjust periodically.
County Excellence pays all closing costs for these loans; however, if you close your HELOC within two years, you will be responsible for repaying the closing costs to the credit union.
Don't let financial constraints hold you back. Contact us today to explore our competitive Home Equity Loan and Home Equity Line of Credit(HELOC) options in New Jersey and take the first step toward achieving your financial goals.