Home Equity

Whether you’re looking to consolidate debt, pay for college tuition or remodel your kitchen, you can use the equity in your home to help finance the cost. Picatinny’s Home Equity Loan Program offers extremely competitive rates on fixed-rate loans and home equity lines of credit (HELOCS). In addition, you will have the flexibility of tailoring your payment schedule to meet your needs and budget.

It's Your Home, It's Your Equity

Our Home Equity Line of Credit

Flexible line of credit to bring your vision to life

renovated kitchen with natural lighting and bar seating

HELOC Exclusive Offerings

Loan to Value Ratio

You can borrow up to 80% of your equity.

Borrowing Maximum

The maximum amount that you can borrow is $250,000.00

Borrowing Minimum

The minimum amount that you can borrow is $20,000.00.

Repayments

Payments are based on a 15 year repayment of the outstanding balance as calculated on the 15th of the month.

Introductory Rate

We offer an exclusive Introductory Rate of 1.99% for the first SIX MONTHS from the day of booking. Talk to our MEPs to find out more!

Draw Down Period

Members can draw down on their loan up to 15 years (180 months). At the end of the draw down period the remaining balance is termed for another 15 years.

Home Equity

Loan Type Min./Max. Term APR* Action
Home Equity Loan, Fixed Rate $15,000 Minimum/$250,000 Maximum 5 years 3.25% Apply Now
Home Equity Loan, Fixed Rate $15,000 Minimum/$250,000 Maximum 7 years 3.50% Apply Now
Home Equity Loan, Fixed Rate $15,000 Minimum/$250,000 Maximum 10 years 3.75% Apply Now
Home Equity Loan, Fixed Rate $15,000 Minimum/$250,000 Maximum 15 years 4.00% Apply Now
Home Equity Loan, Fixed Rate $15,000 Minimum/$250,000 Maximum 20 years 5.00% Apply Now
Home Equity Loan - Prime LOC** $20,000 Minimum/$250,000 Maximum 15 years 4.00% Apply Now

Payment Examples – Home Equity

Home Equity Loan Per $15,000 Borrowed Per $1,000 Borrowed
3.25% APR* for 60 months $271.32 per month $18.10 per month
3.50% APR for 84 months $201.70 per month $13.46 per month
3.75% APR for 120 months $150.16 per month $10.02 per month
4.00% APR for 180 months $111.00 per month $7.40 per month
5.00% APR for 240 months $99.04 per month $6.62 per month

Mother painting walls with son

Need Some Ideas to Get Started?

Here are some ways you can get the most value out of your home:

Home Improvement

Home Improvement

Planning for the home of your dreams? Start with good preparation. Talk to us about how we can make your vision come to life with our Home Equity Line of Credit (HELOC). 
Debt Consolidation

Debt Consolidation

Find your safety net and refinance what you owe to a lower rate. Talk to us about opening a Home Equity Line of Credit (HELOC) to reduce your debt faster.
Student Loans

Student Loans

Investing in yourself doesn't have to set your budget back. See how you can consolidate your student loans and make monthly payments at a lower rate.
Major Purchase

Major Purchase

Whether you're deciding on getting a new appliance or needing seed money to invest in your business, a Home Equity Line of Credit (HELOC) can be an affordable way to pay for big investments.

Our team of Member Experience Professionals are committed and trained to help you every step of the way-- from the start of the application to closing-- and they will work with you to select the home equity solution that is best suited for your current financial circumstance.

* APR=Annual Percentage Rate. Loan Rates as of 5/2/2022. Applicants are subject to credit approval and PFCU underwriting guidelines. Additional terms and conditions may apply. Rates and terms are subject to change at any time. To qualify for membership, you must open a savings account with a minimum deposit of $5.

** The APR for all Equity Lines of Credit may vary and is based on the U.S. prime rate as published in The Wall Street Journal. The minimum "floor" APR on all Equity Lines of Credit is 3.25% and the maximum APR that can apply is 18%. Introductory Rate of 1.99% for the first 6 months and adjusts to Prime + 0% after.

Not responsible for typographical errors.

NMLS ID 402605

Become a Member Today

We are a not-for-profit, full-service financial institution open to anyone who lives, works, worships or goes to school in Morris County. We are proud to offer all the benefits, products, technology, security and convenience of a big bank -- without the big bank headaches, bureaucracy or hidden fees. Join us today!
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