Home Equity Loans/Lines of Credit


Access the equity in your home with a Magyar Home Equity Loan or Line of Credit. How you use the money is up to you—we just make it easy for you to apply, and we’ll get a decision back fast with our Online Loan Application.
  • Home improvements
     
  • New Car
     
  • College Tuition
     
  • Consolidate existing loans
     
Choose what’s best for you:

Home Equity Line of Credit
– Ideal for homeowners looking to borrow money as they need it. With a Magyar Home Equity Line of Credit, you can access your money simply by writing a check.

Home Equity Loan – For homeowners who need to borrow a specific amount and want to pay it back over a specific time frame at a fixed interest rate.

Apply today - Get an Instant Decision!
In most cases, you'll get a decision instantly!
Complete our Online Loan Application today! For more information, call 1-888-990-BANK, or visit any branch location.

1st Lien Home Equity Loan Rate

Rates as of Monday, September 17, 2018

Interest RatePointsAPRPayment per $1,000
30 Year 1st Lien Home Equity Loan
4.625%0.0004.767%$5.14
20 Year 1st Lien Home Equity Loan
4.375%0.0004.396%$6.26
15 Year 1st Lien Home Equity Loan
4.000%0.0004.025%$3.70
10 Year 1st Lien Home Equity Loan
3.750%0.0003.783%$5.01
5 Year 1st Lien Home Equity Loan
3.500%0.0003.559%$9.10

*APR (Annual Percentage Rate) is effective as of 01/19/2011. New Accounts only. Subject to credit approval. $10,000 minimum loan amount, $500,000 maximum loan amount. APR is based on a maximum loan to value ratio of 80% and is subject to change without notice. Eligible properties include 1-4 family primary residences or second homes (single family home or condos). Property insurance is required.


2nd Lien Home Equity Loan Rate

Rates as of Monday, September 17, 2018

Interest RatePointsAPRPayment per $1,000
Home Equity Loan 30 Year
5.000%0.0005.269%$5.37
Home Equity Loan 20 Year
4.750%0.0004.899%$6.46
Home Equity Loan 15 Year
4.375%0.0004.528%$7.59
Home Equity Loan 10 Year
4.125%0.0004.288%$10.18
Home Equity Loan 5 Year
3.875%0.0003.814%$18.36

*APR (Annual Percentage Rate) is effective as of 01/19/2011 . New Accounts only. Subject to credit approval. $10,000 minimum loan amount, $500,000 maximum loan amount. APR is based on a maximum loan to value ratio of 80% and is subject to change without notice. Eligible properties include 1-4 family primary residences or second homes (single family home or condos). Property insurance is required.
 

 

 

 


Home Equity Line of Credit Rates

Rates as of Monday, September 17, 2018

APR
Home Equity Line of Credit Prime Minus .50
4.500%

*APR (Annual Percentage Rate) is the Prime Rate for accounts with Auto-debit, and Prime + 1% without. As of 12/17/2008, Prime is 3.250%. APR is effective as of 01/19/2011 . A Magyar Checking Account, and automatic payments from a Magyar Checking account are required to obtain APR. New Accounts only. Subject to credit approval. $10,000 minimum loan amount, $500,000 maximum loan amount. APR is based on a maximum loan to value ratio of 80% and is subject to change without notice. This is a variable rate account. Eligible properties include 1-4 family primary residences or second homes (single family home or condos). A $25 annual maintenance fee applies. Minimum credit advance that you can receive is $250. Property insurance is required. Maximum APR for this account with auto-debit is 16.50% and minimum is 5.00%. Minimum APR for this account without auto-debit is 6% and Maximum is 16.5%. Lines terminated within the first 24 months are subject to closing fee of $250.

All loans subject to credit approval
For more information, stop by any branch location or call 1.888.990.BANK (2265).