Home Equity Loans and Lines of Credit

1st Bank of Sea Isle City offers an array of residential loans designed to meet the needs of our growing community. We strive to maintain the best possible rates and payment choices while providing a variety of terms and options. Whether you’re a first-time home buyer, a retiree looking for a place at the beach or anywhere in between, call our Loan Center at 609-263-7823 to speak to a loan specialist about current rates and terms. They will be happy to explain any of our loan products and help you determine which one best suits your borrowing needs.

Home Equity Loans

For more information regarding rates and terms, please contact the Loan Center at 609-263-7823.

Home Equity Lines of Credit

Tax Deductibility: You should consult a tax advisor regarding the deductibility of interest charges for the line.

For more information regarding rates and terms, please contact the Loan Center at 609-263-7823.

1st Line Home Equity Line of Credit

  • 10 Year Draw Period (Revolving interest only billed monthly)
  • 15 Year Repayment Period (Principal & Interest)
  • Primary Residence - 80% Loan to Value/Interest Rate = 0.25% above Prime Rate
  • 2nd Home - 80% Loan to Value/Interest Rate = 0.50% Above Prime Rate
  • Investment Property - 70% Loan to Value/Interest Rate = 0.75% Above Prime Rate
  • Loan Rates

Prime Rate as of 11/30/10 is 3.250% as stated in the "Wall Street Journal"

  • Minimum Interest Rate or Floor is 4.50%
  • Maximum Interest Rate or Ceiling is 16.00%

Fees and Charges: To open and maintain a line of credit, the following fees apply:

  • Application Fee:  $100.00
  • Costs associated with obtaining this credit estimated to be $375.00 - $500.00
  • Annual Maintenance Fee: $25.00

*The Annual Percentage Rate (APR) includes only interest and not other costs.

*The Annual Percentage Rate (APR) is based on the value on an index. The index is the highest prime rate publisehd in the "Wall Street Journal" "Money Rates" table on the last day of the month. To determine the Annual Percentage Rate (APR) that will apply, we add a margin to the value of the index.

*Ask for the current index value, margin and Annual Percentage Rate (APR). After you open a credit line, rate information will be provided on periodic statements we send you.