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Home Equity Loans & Lines
Unlock the Equity in Your Home
Whether you are looking to make home improvements, buy a car, or simply want to be prepared for unexpected expenses, the equity in your home could be the key. Affinity's Home Equity Loan & Line of Credit options give you the flexibility you need when you need it most, all with no closing costs, no application charges, and no pre-payment penalties.
| Description | ||
|---|---|---|
| Fixed Rate Home Equity Loan | Your rate and payments are fixed over the life of this loan, with repayment terms customized to meet your needs. | Check Rates Apply Now |
| 5/5/Flex Variable Rate Home Equity Loan | This flexible loan offers a fixed rate for the first five years, and adjustments every five years thereafter. | Check Rates Apply Now |
| EasyFLEX Home Equity Line of Credit | This flexible program combines an adjustable home equity line of credit and fixed rate loans into one! Use EasyFLEX as a classic line of credit by writing Equity checks. And, at any time during the term of your line, you can also take up to three fixed-rate loans - without reapplying! The total of all your loans just has to stay within your original credit limit.1 | Check Rates Apply Now |
| GreenSmartSM Home Equity Loan | If you are among the energy and eco-conscious homeowners who have ever considered "green" home improvement projects, Affinity's GreenSmart Home Equity Loan may be right for you. With a .25% APR rate reduction2, your choice of terms and fixed monthly payments to help you budget better, it's a great way to go green! Here are just some of the green home improvements that could qualify3:
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Check Rates Apply Now |
Apply Online with the Affinity Equity Express
Affinity Equity Express is fast and easy: apply online or by phone and we'll close on your home equity loan in just seven business days, or we'll give you $250...guaranteed!4 You can always finish your application later. Questions? Contact our Member Service Center at 800-325-0808 or stop by any branch location.
Special Programs
- Real Estate Resource Center
As an Affinity member, you have access to more than just real estate loans and great rates! Whether you want to make sure you're getting the most out of your real estate loans, want to connect with qualified, reliable closing resources, or are interested in learning more about the New Jersey housing market, you have the resources you need at your fingertips. - Home Loan Health Check
Do you have the best home loan arrangement for your situation? With our Home Loan Health Check, we can answer your questions and find the best loan options available for you. - Loans Available Nationwide
Did you know that our real estate loans are available for properties in all 50 states? We can help you - and your relatives - with vacation homes, additional residences, rental properties...anywhere in the nation! - Homeowner's Insurance
Ensure that your real estate assets are properly protected. Affinity members have access to excellent homeowner's insurance options.
1 Minimum rate is 4.00% APR. The actual interest rate offered is based on our review of your credit history and the percentage of remaining equity in your home. Other rates are available and may apply based on underwriting guidelines. You will be eligible for the preferred rate if automatic payment from an Affinity FCU account is set-up at closing. If you close with out establishing automatic payment from an Affinity FCU account or if you fail to maintain preferred rate status, we may increase your ANNUAL PERCENTAGE RATE .25% above the preferred rate. Rates are subject to change without notice. Your Easy Flex Home Equity Line of Credit (HELOC) has a variable rate; your ANNUAL PERCENTAGE RATE (APR) may change monthly. The maximum APR that may be charged is 18%. Acceptable documentation for the eligible purchase of items (or related work proposals from a licensed provider) may be required prior to closing.
There are no closing costs on properties located in the state of New Jersey. Properties not located in New Jersey may be subject to state specific mortgage tax fees. Such fees will vary from state to state and typically range from $0.00 and $5,000.00. Consult your tax advisor regarding the deductibility of interest under this plan. Within the Easy Flex Home Equity Line of Credit (HELOC) there is a fixed-rate option which you may use for up to 3 advances at any one time. When you choose this option, the interest rate you receive for that advance will be fixed until the balance is repaid. Your fixed interest rate will be determined by the credit union adding or subtracting a margin at its sole discretion, to the U.S. Prime Rate published in the Wall Street Journal at the time you choose this option. As you pay back the principal of your fixed rate loan, the available balance on your Easy Flex HELOC increases. This fixed loan option is available for the first 15 years of your HELOC. HELOC loans and Fixed Rate Home Equity Loans are not offered in Texas. South Carolina requires members to have a closing attorney.
2 Fixed Rate Terms of 5. 10, 15 or 20 years are available. The following rates and terms are available for the GreenSmart Home Equity Loan as of :
| Term | APR | Monthly Payment per $1,000 Borrowed |
3 NOTE: The GreenSmart Home Equity Loan program is for new home equity loans only; it is not available to payoff existing loans with AFCU or any other entity. Repayment Terms available are for 5, 10, 15 or 20 years. You may borrow up to 75% of your home's value if you already have an Affinity FCU 1st mortgage or 65% of the home's value without an Affinity FCU 1st mortgage. Individual qualification factors will determine the maximum loan amounts and terms. There are no credit union related closing costs however, if applicable, any local or State specific taxes, fees or costs are the responsibility of the borrower. (No Fees in NJ). This program is available only for Owner Occupied Homes; 1-4 Unit Residential dwellings. Loans are available in all States except Texas. Certain States (not NJ) require members to have a closing attorney. Rates and terms are subject to change without notice. Acceptable documentation for the eligible purchase of items (or related work proposals from a licensed provider) may be required prior to closing.
4 New Jersey properties only. Up to $250,000. Seven business day guarantee does not apply if loan is changed because of requests by the member or information in the underwriting process that delays closing. Applications submitted after 1:00 pm will begin the guarantee on the next business day. For seven (7) business day guarantee, loan must close at Affinity Federal Credit Union Headquarters located at 73 Mountain View Blvd., Basking Ridge, NJ. For ten (10) business day guarantee, loan must close at one of our convenient branch locations or the location of your choice. Member must provide the following items within 48 hours of application date: 1 pay stub or if self-employed, 2 years of business and personal tax returns - all schedules; payoff statements (credit card, mortgage or loan payoffs) if a condition of your loan; copy of the declaration page for applicable insurance (flood/ homeowners) listing Affinity as a second lien holder. Insurance declaration page must evidence sufficient insurance coverage to cover both first and second mortgages and must take affect within seven (7) business days of loan application. Even if Affinity is listed as 1st lien holder we still must be listed as a second lien holder. Loan must meet standard underwriting guidelines. All provisions of the guarantee must be met. Acceptable documentation for the eligible purchase of items (or related work proposals from a licensed provider) may be required prior to closing.
