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Home Equity Line of Credit


Equity Extra Creditline is available for single family homes and condominiums that are primary residences.

  • Prime For Life.  Apple's home equity loan features a lifetime interest rate that will be the Prime Rate for as long as you have the loan.


  • You can access your Equity Extra line during the five-year interest-only period by simply writing a check. Your line is automatically replenished by any principal payments you make during the initial five-year period. After that, a 20-year repayment plan covering principal and applicable interest goes into effect.


  • To establish your Creditline, you are responsible for all fees required to process and close the loan. However, there is no minimum draw requirement at the time of closing to activate your home equity line of credit.


The Annual Percentage Rate (APR) for the Equity Extra Creditline may vary and is based on the highest Prime Rate as published in The Wall Street Journal on the 15th of the month. As of July 2016, the Prime Rate is 3.50%; therefore, our interest rate of Prime is 3.50%.  The maximum APR is 17%. There is a $35 annual fee that is waived for the first year. For a line of $125,000, closing costs are estimated to be between $1,160 to $11,458. Rates and terms are subject to change without notice. All loans are secured by a mortgage or lien on your home. Property insurance is required. Available on owner-occupied family residences and condominiums. Consult your tax advisor regarding the deductibility of interest to determine if you qualify under current tax laws. Apple Bank home equity loans are not available on property located in New Jersey or Connecticut.

Call 212-224-6464 for More Information

Apple Bank is the lender (NMLS #446713) on the Equity Extra Creditline product.



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