Home Equity Line of Credit


This is a Variable Rate Account

Terms Available:

180 Month Revolving Line of Credit

240 Month Revolving Line of Credit

Our Current Rate is 2.50% / APR 2.50%  effective  May 22, 2020.

Applicable Annual Percentage Rate (APR) is Prime as published in the Wall Street Journal (WSJ), as of the first business day of the month, minus 0.75%. The minimum APR is 2.50% and the maximum APR is 15.00%. 

Rates can change Monthly. 

There is a minimum monthly principal payment of $50, plus applicable accrued interest.

Payment example:

Minimum payment for $10,000.00 based on 180 months @ 2.50% = $76.11

Minimum payment for $10,000.00 based on 240 months @ 2.50% = $70.55

Your minimum payments may not be sufficient to fully repay the principal that is outstanding on your line. If they are not, you will be required to pay the entire outstanding balance in a single payment.

All rates subject to change without notice.

Minimum Line of Credit: $5,000.00

Maximum Line of Credit: $500,000.00

No application fee for primary residence. 

You will be required to pay a Mortgage Recording Fee at the time of closing. This fee can range from$60.00 to $80.00, depending upon the county in which the secured property is located. If, at the time of closing, the applicable state law is revised to change the amount of this fee you will be required to pay the revised amount.

Property insurance required. Flood insurance may be required.

NJ Properties, owner-occupied 1-4 family only: Now serving all of Bergen, Passaic, Essex, Hudson, Union, Morris, Sussex, Warren, Middlesex, Mercer, Somerset, Ocean, Monmouth and Hunterdon Counties.

A Glen Rock Savings Bank Home Equity Line of Credit may be a good option if you are looking to:

  • Make Home Improvements
  • Consolidate Debt
  • College Tuition
  • Finance a Major Purchase


  • Ongoing accessibility - access available funds now and in the future, without re-applying
  • Potential tax benefits - unlike Personal Loans or Credit Cards, interest may be tax deductible (consult your tax advisor for deductibility)


  • Variable Interest Rate
  • Convenient Credit Line Checkbook
  • Interest Charged on Outstanding Balance
  • Replenishing Credit as Payments are made

(Home Equity Lines of Credit are also available on Investment Property - call for Rates)

Offer subject to credit approval.

For your convenience, you can download the application to complete, and then return it to our Mortgage Department at "175 Rock Road Glen Rock".
This applications requires legal size paper in your printer.

Download an Application

What you should know about HELOC Booklet