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Home Equity
Popular Equity Advantage Line of Credit1
We provide lines of credit in New York, New Jersey and Florida, for single-family homes, townhouses, condos and two- to four-unit residential properties.
Why Choose a Popular Home Equity Line of Credit?
Enjoy flexible terms and access, and borrow as little as $10,000 or as much as 89.9% of your primary home’s value in New York and New Jersey. If your property is in Florida, you can borrow up to 80% of your home’s value.
Features include:
- Revolving credit line
- 10-year draw period followed by a convenient repayment term
- Access your line by check, a transfer through online banking or a cash advance at a branch
Additional benefits:
- Free to Apply: No application fees and no points. Closing costs may apply.2
- Tax Deductible: The interest you pay may be 100% tax deductible. Consult your tax advisor.
- Fixed Rate Lock Option3 Available: Lock up to three portions of your balance at one time. Repaid principal becomes part of your available line again.
Ask a Banker about our Auto-Debit service.
Learn how to use the equity in your home today. Contact your local branch or call our Customer Care Center at 1.888.317.9062.
1All loans subject to credit and property approval. Rates are variable, terms and conditions vary by state and product features, and criteria are subject to change without notice. Please contact a banker or Customer Care Center representative for updated information and current rates.
2Popular will pay all third-party fees for home equity lines of credit of $500,000 or less. For lines of credit $500,000 or less, if you choose to pay off and close your line of credit within three years, a single payment will be charged to recapture any third-party fees paid by the bank. If you refinance your line of credit with Popular, we will waive this single payment to recapture the third-party fees. Third-party fees, other fees and taxes apply to lines of credit over $500,000.
3Rate lock feature offers fixed-interest rate loans with a minimum lock amount of $5,000 per request, maximum 3 locked amounts at one time. The first rate lock is free, additional rate locks are $50, are treated as a finance charge and are assessed against the line. As it applies to applicable rate locks, loan payments consist of both principal and interest to fully repay the locked portion over the course of the term selected. See a banker for more details.
