Home Equity Lines of Credit
Time for a major home improvement, tuition bill, or other big expenses? Find out how a Home Equity Line of Credit1 can help.
A Home Equity Lines of Credit1 (HELOC) is a low-cost, low-interest way to pay for important expenses. You’ll be able to access your funds and withdraw the amount you need with a flexible repayment schedule.
An Astoria Bank Home Equity Lines of Credit1 features:
- Convenient access to funds. Available to you any time you need it, right up to your credit limit.
- Freedom to choose what you need. Get a credit line ranging from $25,000 to as much as $300,000.
- Fast, easy payments that can save you money. Get a 0.25% APR discount with automatic payments from any Astoria Bank checking account2
- Tax-deductible. Consult with your tax advisor to find out if you may be able to deduct the interest on the money you borrow.
- No application fee and no closing cost3
Stop by an Astoria branch or call one of our mortgage experts at 1-800-ASTORIA to find out how to apply for a Home Equity Line of Credit today.
1 Available for New York properties, certain county restrictions apply. The Annual Percentage Rate (APR) is variable and is based upon an index plus a margin. The index is the highest prime rate published in the Wall Street Journal on the first business day of the calendar month in which the billing cycle begins. As of January 3, 2017 the APR is 4.50% (Prime of 3.75% plus 0.75% margin). The Maximum APR is 15.90%.
2 Participation in Auto Pay Repayment Program is required for discounted rate. Your interest rate will automatically increase by .25% for the remaining life of the Line of Credit when participation is terminated and a $100 administrative fee will be charged on your Line of Credit.
3 $50 annual maintenance fee will be charged on your Line of Credit. At closing, Astoria will pay, on your behalf, certain third party fees and expenses (generally between $1,870 and $7,520) in connection with the HELOC, excluding title insurance. You are also required to obtain title insurance at your own expense when satisfying a non-Astoria Bank and HELOC. If the Line of Credit is satisfied by you within the first 3 years, you will be required to reimburse Astoria for any closing fees and expenses paid to the third parties on your behalf.