Equity Credit Line: New York 
 
We offer the following products with no application fee and no appraisal fee. We offer home equity loans and lines of credit on owner-occupied 1 to 4 family homes. 
 
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Equity Credit Line ($10,000 to $500,000)

Rates as of Wednesday, May 15, 2013
Product Description Interest Rate Annual Percentage Rate Closing Costs Apply
Equity Credit Line - with automatic payment from an Investors' checking account.
Equity Credit Line   2.990% 2.990% $0.00
Equity Credit Line - without automatic payment from an Investors' checking account.
Equity Credit Line   3.240% 3.240% $0.00

Investors will pay the mortgage recording tax fee on loans up to $500,000. 

 

*  INTRODUCTORY RATE OFFER – During a 6-month period beginning on the closing date, the interest rate and Annual Percentage Rate (APR) will be fixed at 2.99% (3.24% without auto-debit) regardless of the outstanding balance. After the intro period, the interest rate will be variable. An annual maintenance fee of $50 will be charged on the anniversary of the loan's origination date.  For New York Properties, Investors Bank will pay any Mortgage Tax Fee for loans up to $500,000.The floor rate noted below will not apply during the intro period. Thereafter, the interest rate and APR will be variable as noted in the table below.

Investors Home Equity Line of Credit has a variable rate feature during the draw period, and, as a result, the annual percentage rate (APR) and the minimum payment can change monthly. An annual maintenance fee of $50 will be charged on the anniversary of the loan's origination date.  For New York Properties, Investors Bank will pay any Mortgage Tax Fee for loans up to $500,000. Periodic adjustments include only interest and no other costs. At the end of the draw period in Year 11 the rate shall be the prevailing 15 Year fixed home equity rate in effect at that time.  You will be notified of your change in rate and your new monthly payment for the remaining period of your loan 45 days prior to the due date of your new monthly payment.  During the draw period, the annual percentage rate is based on an index. The index used is the Prime Rate as published in the Wall Street Journal. Please ask us for the current index value, margin, discount or premium and annual percentage rate. Interest rate information will be provided on your monthly billing statements. At no time will your rate exceed 15% or be less than 3.75%.  Offer available for owner-occupied 1 to 4 family homes in NJ and NY.  All loans subject to credit approval.  Other terms and conditions may apply.  This offer may be withdrawn at any time. Rate is subject to change without notice. 

 Rate is subject to change without notice. 

Example of Your Monthly Payment*
 
If you have an outstanding home equity credit line balance of $20,000, and the annual percentage rate is 3.75%, your monthly payment will be calculated as follows:
  
The minimum monthly payment will be: $20,000 x 3.75/12=$62.50*
 
   

*Rate is subject to change without notice.     During the interest-only period "Draw Period," the minimum payment will not reduce the principal that is outstanding on the line of credit. At the end of the draw period in year 11 the rate shall be the prevailing 15 year fixed home equity rate in effect at that time.
  
 
Hazard insurance is required on all Equity Loans or Equity Lines of Credit.   
All annual percentage rates and fees are subject to change without notice.