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.
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
2nd Lien Home Equity Loan Rate
Rates as of Monday, September 17, 2018
|Home Equity Line of Credit Prime Minus .50|
*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.