Home Equity Lines of Credit
Home equity credit lines allow you to take advantage of the equity you have built in your home. We offer a revolving line of credit that you can borrow against by simply writing a check. You pay interest only on the amount of money you draw on and can access your credit line any time. If line of credit is closed during first 24 months, a $350.00 fee is due at payoff. Lines available on 1 to 4 family owner occupied homes in New Jersey. Available on condominiums if American Bank of New Jersey has the 1st mortgage.
Apply for a line of credit now online or call 973-748-3600 ext 116 to apply by phone or to request an application by mail. You can stop by, or call any one of our branches to apply. Subject to credit approval.
Second Mortgages
Second Mortgage loans allow you to borrow against the equity in your home. The full amount of the loan is disbursed to you at closing in a lump-sum and can be used for any reason. You pay the loan in equal monthly installments based on the term you choose. Your rate will be fixed for the term of the loan. Loans available on 1 to 4 family owner occupied homes in New Jersey. Available on condominiums if American Bank of New Jersey has the 1st mortgage.
Apply for a fixed Second Mortgage loan now online or call 973-748-3600 ext.116 to apply by phone or to request an application by mail. You can stop by, or call any one of our branches to apply. Subject to credit approval.
Note: Loan payments may be made automatically from your checking, savings or money market account at American Bank of New Jersey.
Home equity loans and lines are available on 1-4 family investment properties in New Jersey. You have the choice of a home equity credit line or a second mortgage, which ever option works best for you. Subject to credit approval.
Different restrictions apply, so please speak with your branch representative for more information or call the Loan Department at 973-748-3600 or 1-800-748-3605.
