Dream Big

We’ve extended our Home Equity Line of Credit Intro Period to 15-Months! Use yours for home improvement projects, taxes, school tuition, large purchases, medical bills and more!

A No Closing Cost Home Equity Line of Credit from Ocean Financial offers you peace of mind and:

  • Intro rate as low as 1.74% for 15 months, as low as Prime thereafter.*
  • Extended introductory period of 15-months!
  • Flexibility allows you to use only what you need, when you need it!
  • Availability – pay back only what you use and have it available to you again!
  • Easy access via Online Banking and convenience checks.
  • 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.
  • Loan amounts up to $500,000 available – please speak with a Loan Officer for details.
View Current Rates

Questions?

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

*APR=Annual Percentage Rate. Rates and terms accurate as of 10/1/2021 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 are currently paying Introductory Rate on an existing Ocean Financial Home Equity Line of Credit or if Ocean Financial paid the closing costs for a HELOC taken within the past three years. 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. **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.