One of the biggest advantages of a Home Equity Line of Credit is that it can give you the financial flexibility you need.

You can even use the equity in your home to pay tuition and living expenses to help pay for their future.

  • Special introductory rate, fixed for the first 15 months. Prime for life thereafter.*
  • Flexibility allows you to use only what you need, when you need it!
  • Pay it back and use it 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.
  • Interest Only payment option available – speak with a Loan Officer for details.

Reasons to get a Home Equity Line of Credit:

  • Debt Consolidation
  • Home Renovation
  • Travel, Take a Vacation
  • Life Events such as College or Wedding Expenses

Did You Know?

  • Ocean Financial offers an extended intro period – 15 months!
  • By getting a Home Equity Line of Credit you can possibly have lower interest rates than that of unsecured loans.
  • Low Fixed monthly payments allow you to plan accordingly during the introductory period.
  • If you have a Home Equity Line of Credit elsewhere, you can refinance at Ocean Financial and take advantage of the low rate 15-month intro period.
  • Consult your financial advisor for possible tax benefits.

Questions?

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

*APR=Annual Percentage Rate. Rates and terms accurate as of 10/01/2023 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 07/31//23 = 8.50% 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.