Home Equity Line-of-Credit*

See a home renovation, debt consolidation or paying for college tuition in your future? We see it too. A Suffolk Federal Home Equity Line-of-Credit makes it easy, and you can even take that much-needed break when you need to. Oh yeah, you can use it for vacation too.

Suffolk Federal’s Home Equity & 'Green' Home Equity Lines-of-Credit

  • Repayment term up to 20 years
  • Minimum line-of-credit of $20,000
  • Maximum line-of-credit of $417,000
  • Low rates
  • Interest may be tax deductible (Consult a tax advisor)
  • Advance options available
  • Home equity line-of-credit: up to 80% of appraised value less your outstanding mortgage

Introductory 2.49% APR* Home Equity Line-of Credit

Suffolk Federal offers a Home Equity Line-of-Credit with an introductory rate as low as 2.49% APR*! Borrowers are required to pay the appraisal fee. With a low-rate like that, you can put your home to work for you. How much unused equity are you holding? Apply today!

Try our Home Equity Line-of-Credit Calculator to calculate what your monthly loan payment would be. This saves you from guessing what you can afford.

Questions? We’re here to help. Call 631.924.8000 or visit any of our convenient branch locations throughout Suffolk County, Long Island, NY.

All loans are subject to credit approval and income verification.

* APR= Annual Percentage Rate. Introductory rate as low as 2.49% good for 24 months from origination date. Introductory APR is based on your creditworthiness and will range from 2.49%APR to 5.49%APR. Effective 24 months from origination date, APR is based on the Prime Rate as published in the Wall Street Journal plus a margin which is determined by your creditworthiness. The minimum rate is 3.00%APR and the maximum rate is 18.00%APR. The HELOC is a variable rate loan. After 24 month introductory period, the APR may change monthly. Making minimum payments only may result in a balloon payment.

Suffolk Federal will pay closing costs, expect the appraisal fee, on loan/line amounts up to $150,000 on properties in New York State only. If you pay off and close your loan less than 3 years from loan origination date, you will be required to reimburse all closing costs paid by Suffolk Federal. For loan/line amounts up to $150,000, closing costs are estimated to be between $400 and $1,800. Estimate is for Suffolk County and other counties may have different estimates.

Rates will be 3.00% higher for Non-Primary Home Equity Line-of-Credit loans. Minimum loan amount is $20,000. Maximum loan amount is $417,000. The length of the repayment period will depend on the balance at the time of the last advance you obtain before the draw period ends. Monthly payments required during both the draw and repayment periods. Payment calculation is based on 20 year amortization. Hazard insurance is required. Available on 1-4 family primary or secondary residences, excluding mobile homes, co-ops and homes for sale, under construction or on leased land. Applicants who are not approved at these rates may be offered credit at a higher rate. All loans are subject to credit approval and income verification. All rates and terms are subject to change without notice. Please see a Suffolk Federal representative for additional information, applicable fees and terms.