Home Equity Loans

Your home is probably one of your largest and important assets. Make its equity work for you as a way to finance many important needs in your life with a home equity loan obtained at Boiling Springs. 


Whether you’re renovating your home or taking care of other needs, your Boiling Springs branch manager will gladly explain to you the home equity loan application process and work with you every step of the way. We’re here to help!


Home Equity Loans At Boiling Springs Savings Bank offers:

  • No Points
  • No fees or closing costs
  • Fixed Rate Loans are available up to $750,000 with a First Lien Position
  • Automatic Payment Deduction not required
  • Interest may be tax deductible (consult your tax advisor)
  • Friendly, personal service! 

We are happy to discuss any of our creative loan options available.

Locate A branch

or call 201-507-3212 to speak with a representative

Home Equity Credit Lines

Use as much as you need with our Home Equity Credit Line, then replenish your credit line if you want to. 

Simply write a check for $500 or more, as you would with a regular checking account whenever you need it, for whatever purpose. Your home equity line is secured by a mortgage on your primary owner-occupied 1–4 family home. Your interest payment is made only on the money you use. As your repayments are made, the funds once again become available for your use.

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 3.490% 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 the rate will be fixed at the initial discounted APR. After you have had 12 complete 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 will 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 adviser. 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. Boiling Springs and/or its agency is not responsible for typographical errors.


The Home Equity Fixed Rate-Fixed Term Loan

Knowing you’ll have the same payment every month is a benefit of the fixed home equity loan. 

Choose a term from 5 years to 20 years and enjoy the same fixed rate and monthly payment. 

First or Second Lien Position, up to $500,000, with a Combined Loan to Value (CLTV) of 80% and 75% CLTV for Condominiums. Loans over $500,000 up to $750,000 secured by a First Lien Position, with a Loan to Value not to exceed 75%. Payments do not include amounts for taxes and insurance premiums, which if applicable will make your payment obligation greater. Subject to credit approval. Property insurance required. Flood insurance may be required.

Your home equity loan is secured by a mortgage on your owner-occupied 1-4 family home. This offer is for Northern New Jersey homeowners only. Certain restrictions apply. No Application Fee or Closing Fee.