Whether you want to create an open floor plan or make an educated decision to pay for tuition, our HELOC may be the right product for you. A home equity line of credit can be used for more than just home improvement projects. It could be used for taxes and school tuition, large purchases, medical bills and more!


  • Intro rate as low as 1.99% for 1 year, as low as Prime thereafter.**
  • After introductory period, rate changes monthly with Prime.
  • Flexibility allowing you to use only what you need, when you need it!
  • Availability – use a little bit of it or a lot of it, pay back only what you use and have it available to you again!
  • Easy access via Online Banking
  • No closing costs for loans between $50,000 and $250,000 with initial draw of $50,000.***
  • Low draw requirement after initial draw- minimum draw is $1,000.
  • Other loan amounts available – please contact Ocean Financial for specifics.
View Current Rates


Speak with a Loan Officer.
Call 516-620-8100

**APR=Annual Percentage Rate. Rates and terms accurate as of 4/20/2020 and are subject to change without notice. All offers of credit are subject to credit approval; applicants may be offered credit at higher rates and other terms. Loan rates featured are the lowest for the product advertised. Loan-to-value restrictions may apply. Hazard insurance is required on all loans secured by real property; flood insurance may also be required. No closing costs on new HELOCs between $50,000 and $250,000. Rates advertised are for primary residence. For Home Equity Lines up to $250,000 a minimum balance of at least $25,000 must remain open and be maintained for 36 months after the funding date of the Line of Credit to avoid payment of closing costs. Introductory Rate is not available to members who have an existing Ocean Financial Home Equity Line of Credit. Borrower may obtain credit advances for 10 years. HELOC is a variable rate product with a maximum rate of 18.00% APR. After the introductory period, your APR will vary with the market based on the Prime Rate. Prime rate as of 3/16/2020 = 3.25% APR as published in the Wall Street Journal. The floor APR is 3.00% plus your margin.