HELOC rates in New Jersey have risen from around 4% in early 2022 to nearly 9% by late 2024. If this trend continues, homeowners may face higher borrowing costs, so consider locking in a rate now.
Best HELOC Rates in New Jersey
As of October 16, 2024, the best HELOC rate in New Jersey is 6.6% from Garden Savings Federal Credit Union in Denville, which is much lower than both the state and national averages of 8.7%.
Updated: November 9, 2024
Advertising & Editorial Disclosure
Key Takeaways
Higher loan-to-value (LTV) ratios lead to higher rates. The average APR for a HELOC in New Jersey with an 80% LTV is 8.5%, compared with 9.0% for a 90% LTV.
HELOC rates vary by city in New Jersey. Mount Holly has an average APR of 7.9%, whereas McGuire AFB's is 11.0%.
Different lenders offer varying rates for the same loan limits. Garden Savings Federal Credit Union's average APR is 6.6%, whereas Andrews Federal Credit Union's is 11.0%.
Current HELOC Rates in New Jersey
HELOC Rates in New Jersey by LTV Ratio
HELOC rates in New Jersey vary depending on your loan-to-value (LTV) ratio and line limit. Lenders consider a lower LTV less risky, as you have more equity in your home. For instance, with an 80% LTV, you borrow less against your home's value than at 90%, reducing the risk of default on your HELOC.
The following table lets you filter between different loan amounts, offering a clearer view of what you may qualify for:
- $100,000
- $50,000
HELOC Rates in New Jersey by City
HELOC rates in New Jersey vary by city due to local housing markets and lender competition. For instance, cities with stable housing markets may offer lower rates, reducing lender risk.
Use the table below to filter by your city and see average APRs for $50K and $100K HELOCs.
- Aberdeen
- Absecon
- Alachua
- Allendale
- Allentown
- Alloway
- Alpha
- Altamonte Springs
- Amelia Island
- Apalachicola
- Apollo Beach
- Apopka
- Arcadia
- Atco
- Atlantic Beach
- Atlantic City
- Atlantis
- Auburndale
- Audubon
- Augusta
- Aventura
- Avon Park
- Babcock Ranch
- Baker
- Bal Harbour
- Baldwin
- Barefoot Bay
- Barnegat
- Bartow
- Basking Ridge
- Bay Harbor Islands
- Bay Lake
- Bayonet Point
- Bayonne
- Bayville
- Bedminster
- Belle Glade
- Belleair Bluffs
- Belleview
- Belleville
- Bellmawr
- Belvidere
- Bergenfield
- Berkeley Heights
- Berlin
- Bernardsville
- Beverly Hills
- Big Pine Key
- Blairstown
- Bloomfield
- Blountstown
- Boca Raton
- Bonifay
- Bonita Springs
- Boonton
- Bordentown
- Bound Brook
- Boynton Beach
- Bradenton
- Bradley Beach
- Branchburg
- Brandon
- Brick
- Bridgeton
- Bridgewater
- Brielle
- Brigantine
- Bronson
- Brooksville
- Browns Mills
- Burlington
- Bushnell
- Butler
- Callahan
- Callaway
- Camden
- Cape Canaveral
- Cape Coral
- Cape May
- Cape May Court House
- Carneys Point
- Casselberry
- Cedar Grove
- Cedar Key
- Cedar Knolls
- Celebration
- Century
- Champions Gate
- Chatham
- Chattahoochee
- Cherry Hill
- Chester
- Chesterfield
- Chiefland
- Chipley
- Cinnaminson
- City of Westlake
- Clark
- Clayton
- Clearwater
- Clementon
- Clermont
- Clewiston
- Cliffside Park
- Clifton
- Clinton
- Closter
- Cocoa
- Cocoa Beach
- Coconut Creek
- Coconut Grove
- Collingswood
- Colonia
- Colts Neck
- Columbus
- Cooper City
- Coral Gables
- Coral Springs
- Cranford
- Crawfordville
- Cream Ridge
- Crescent City
- Cresskill
- Crestview
- Cross City
- Crystal River
- Cutler Bay
- Dade City
- Dania
- Davenport
- Davie
- Dayton
- Daytona Beach
- DeFuniak Springs
- DeLand
- Deerfield Beach
- Delran
- Delray Beach
- Deltona
- Denville
- Deptford
- Destin
- Doral
- Dover
- Dumont
- Dunedin
- Dunnellon
- East Brunswick
- East Hanover
- East Orange
- East Rutherford
- East Windsor
- Eatontown
- Edgewater
- Edison
- Egg Harbor Township
- Eglin AFB
- Elizabeth
- Ellenton
- Elmer
- Elmwood Park
- Emerson
- Englewood
- Englewood Cliffs
- Englishtown
- Estero
- Eustis
- Ewing
- Fair Lawn
- Fairfield
- Fairview
- Fanwood
- Fellsmere
- Fern Park
- Fernandina Beach
- Flanders
- Fleming Island
- Flemington
- Florham Park
- Florida City
- Forest City
- Forked River
- Fort Lauderdale
- Fort Lee
- Fort Myers
- Fort Pierce
- Fort Walton Beach
- Franklin
- Franklin Lakes
- Franklin Park
- Freehold
- Freeport
- Frenchtown
- Fruit Cove
- Fruitland Park
- Gainesville
- Galloway
- Garfield
- Garwood
- Gillette
- Glassboro
- Glen Ridge
- Glen Rock
- Glendora
- Gloucester City
- Green Brook
- Green Cove Springs
- Greenacres
- Greenwood
- Groveland
- Gulf Breeze
- Gulfport
- Hackensack
- Hackettstown
- Haddon Heights
- Haddonfield
- Haines City
- Hainesport
- Haledon
- Hallandale Beach
- Hamilton
- Hammonton
- Harrison
- Hasbrouck Heights
- Haverhill
- Hawthorne
- Hazlet
- Heathrow
- Hernando
- Hialeah
- Hialeah Gardens
- Highland Park
- Highlands
- Hillsborough
- Hillsdale
- Ho-Ho-Kus
- Hoboken
- Holiday
- Hollywood
- Holmdel
- Holmes Beach
- Homestead
- Homosassa Springs
- Hopatcong
- Howell
- Hudson
- Hurlburt Field
- Immokalee
- Indialantic
- Indian Harbour Beach
- Indian Shores
- Interlachen
- Inverness
- Irvington
- Iselin
- Islamorada
- Jackson
- Jacksonville
- Jacksonville Beach
- Jamesburg
- Jensen Beach
- Jersey City
- Jonesville
- Juno Beach
- Jupiter
- Kearny
- Kendall Park
- Kenilworth
- Kennedy Space Center
- Key Biscayne
- Key Largo
- Key West
- Keyport
- Keystone Heights
- Kingston
- Kissimmee
- Labelle
- Lady Lake
- Lake Buena Vista
- Lake City
- Lake Hopatcong
- Lake Mary
- Lake Placid
- Lake Wales
- Lake Worth
- Lakeland
- Lakewood
- Lakewood Ranch
- Lambertville
- Land O' Lakes
- Lantana
- Largo
- Lauderdale Lakes
- Lauderdale-by-the-Sea
- Lauderhill
- Laurel Springs
- Lawnside
- Lawrence Township
- Lawrenceville
- Leesburg
- Lehigh Acres
- Leonia
- Lighthouse Point
- Lincoln Park
- Lincroft
- Linden
- Linwood
- Lithia
- Little Egg Harbor
- Little Falls
- Little Ferry
- Little Silver
- Live Oak
- Livingston
- Lodi
- Long Beach Township
- Longboat Key
- Longwood
- Loxahatchee
- Lumberton
- Lutz
- Lyndhurst
- Lynn Haven
- MacClenny
- Madison
- Mahwah
- Maitland
- Manahawkin
- Manalapan
- Manasquan
- Manchester Township
- Mantua
- Manville
- Maple Shade
- Maplewood
- Marathon
- Marco Island
- Margate
- Margate City
- Marianna
- Marlboro
- Marlton
- Marmora
- Martinsville
- Mary Esther
- Mayport
- Mays Landing
- Maywood
- McGuire AFB
- Medford
- Melbourne
- Mendham
- Mercerville
- Merritt Island
- Metuchen
- Miami
- Miami Beach
- Miami Gardens
- Miami Lakes
- Miami Shores
- Miami Springs
- Middleburg
- Middlesex
- Middleton
- Middletown
- Millburn
- Milltown
- Millville
- Milton
- Mims
- Miramar
- Miramar Beach
- Monroe
- Monroe Township
- Montclair
- Monticello
- Montvale
- Montville
- Moonachie
- Moorestown
- Morganville
- Morris Plains
- Morristown
- Mount Dora
- Mount Holly
- Mount Laurel
- Mountainside
- Mulberry
- Mullica Hill
- Naples
- National Park
- Navarre
- Neptune
- Neptune Beach
- Netcong
- New Brunswick
- New Egypt
- New Milford
- New Port Richey
- New Providence
- New Smyrna Beach
- Newark
- Newberry
- Niceville
- Nokomis
- North Arlington
- North Bergen
- North Brunswick
- North Cape May
- North Fort Myers
- North Miami
- North Miami Beach
- North Palm Beach
- North Plainfield
- North Port
- Northfield
- Norwood
- Nutley
- Oak Ridge
- Oakhurst
- Oakland
- Oakland Park
- Oaklyn
- Ocala
- Ocean
- Ocean City
- Oceanport
- Ocoee
- Odessa
- Okeechobee
- Old Bridge
- Old Tappan
- Old Town
- Oldsmar
- Oradell
- Orange
- Orange City
- Orange Park
- Orlando
- Ormond Beach
- Oviedo
- Oxford
- Pace
- Pahokee
- Palatka
- Palisades Park
- Palm Bay
- Palm Beach
- Palm Beach Gardens
- Palm City
- Palm Coast
- Palm Harbor
- Palm Springs
- Palmetto
- Palmetto Bay
- Palmyra
- Panama City
- Panama City Beach
- Paramus
- Park Ridge
- Parker
- Parrish
- Parsippany
- Passaic
- Paterson
- Patrick AFB
- Paulsboro
- Pemberton
- Pembroke Park
- Pembroke Pines
- Pennington
- Penns Grove
- Pennsauken
- Pennsville
- Pensacola
- Pequannock
- Perry
- Perth Amboy
- Phillipsburg
- Picatinny Arsenal
- Pine Beach
- Pinecrest
- Pinellas Park
- Piscataway
- Pitman
- Plainfield
- Plainsboro
- Plant City
- Plantation
- Pleasantville
- Pluckemin
- Point Pleasant
- Point Pleasant Beach
- Pompano Beach
- Pompton Lakes
- Pompton Plains
- Ponte Vedra
- Ponte Vedra Beach
- Port Charlotte
- Port Orange
- Port Richey
- Port Saint Joe
- Port Saint John
- Port Saint Lucie
- Princeton
- Princeton Junction
- Punta Gorda
- Quincy
- Rahway
- Raiford
- Ramsey
- Randolph
- Raritan
- Red Bank
- Ridgewood
- Ringwood
- Rio Grande
- River Edge
- River Vale
- Riverview
- Riviera Beach
- Robbinsville
- Rockaway
- Rockledge
- Rocky Hill
- Roebling
- Roseland
- Roselle
- Rosemary Beach
- Rosenhayn
- Royal Palm Beach
- Ruskin
- Rutherford
- Saddle Brook
- Saddle River
- Safety Harbor
- Saint Augustine
- Saint Cloud
- Saint James City
- Saint Johns
- Saint Petersburg
- Salem
- Sanford
- Santa Rosa Beach
- Sarasota
- Satellite Beach
- Scotch Plains
- Sea Bright
- Seaside Heights
- Sebastian
- Sebring
- Secaucus
- Seffner
- Seminole
- Sewell
- Shalimar
- Ship Bottom
- Shrewsbury
- Sicklerville
- Silver Springs
- Skillman
- Sneads
- Somers Point
- Somerset
- Somerville
- South Amboy
- South Daytona
- South Miami
- South Orange
- South Pasadena
- South Plainfield
- Southport
- Spring Hill
- Spring Lake
- Spring Lake Heights
- Springfield
- Starke
- Steinhatchee
- Stratford
- Stuart
- Succasunna
- Summerfield
- Summit
- Sun City Center
- Sunny Isles Beach
- Sunrise
- Swedesboro
- Tallahassee
- Tamarac
- Tampa
- Tarpon Springs
- Tavernier
- Teaneck
- Temple Terrace
- Tenafly
- Tequesta
- Teterboro
- The Villages
- Tierra Verde
- Tinton Falls
- Titusville
- Toms River
- Totowa
- Township of Washington
- Treasure Island
- Trenton
- Trinity
- Turnersville
- Tyndall AFB
- Union
- Union City
- University Park
- Upper Montclair
- Valrico
- Vauxhall
- Venice
- Vero Beach
- Viera
- Vineland
- Virginia Gardens
- Voorhees
- Waldwick
- Wall
- Wall Township
- Wallington
- Warren
- Washington
- Washington Township
- Wauchula
- Wayne
- Wellington
- Wesley Chapel
- West Berlin
- West Caldwell
- West Deptford
- West Long Branch
- West Melbourne
- West Miami
- West New York
- West Orange
- West Palm Beach
- West Trenton
- West Windsor
- Westfield
- Westmont
- Weston
- Westville
- Westwood
- Wharton
- Whippany
- Whitehouse Station
- Whiting
- Wildwood
- Williamstown
- Willingboro
- Williston
- Wilton Manors
- Wimauma
- Windermere
- Windsor
- Winter Garden
- Winter Haven
- Winter Park
- Winter Springs
- Wood Ridge
- Woodbridge
- Woodbury
- Woodcliff Lake
- Woodland Park
- Woodstown
- Woolwich
- Wyckoff
- Yulee
- Zephyrhills
HELOC Rates in New Jersey by Lender
HELOC interest rates in New Jersey vary based on each lender's pricing strategies and risk assessments. The table below highlights the five lenders in New Jersey offering the lowest average APRs, making it easier for you to compare competitive rates.
Garden Savings Federal Credit Union | 6.6% |
Healthcare Employees Federal Credit Union | 7.0% |
Ukrainian Selfreliance Federal Credit Union | 7.3% |
County Educators Federal Credit Union | 7.5% |
Quorum Federal Credit Union | 7.8% |
HELOC rates today can differ significantly between lenders in the same city.
Use the table below to filter by city and compare APRs to find the most competitive rate in your area.
- Aberdeen
- Absecon
- Alachua
- Allendale
- Allentown
- Alloway
- Alpha
- Altamonte Springs
- Amelia Island
- Apalachicola
- Apollo Beach
- Apopka
- Arcadia
- Atco
- Atlantic Beach
- Atlantic City
- Atlantis
- Auburndale
- Audubon
- Augusta
- Aventura
- Avon Park
- Babcock Ranch
- Baker
- Bal Harbour
- Baldwin
- Barefoot Bay
- Barnegat
- Bartow
- Basking Ridge
- Bay Harbor Islands
- Bay Lake
- Bayonet Point
- Bayonne
- Bayville
- Bedminster
- Belle Glade
- Belleair Bluffs
- Belleview
- Belleville
- Bellmawr
- Belvidere
- Bergenfield
- Berkeley Heights
- Berlin
- Bernardsville
- Beverly Hills
- Big Pine Key
- Blairstown
- Bloomfield
- Blountstown
- Boca Raton
- Bonifay
- Bonita Springs
- Bordentown
- Bound Brook
- Boynton Beach
- Bradenton
- Bradley Beach
- Branchburg
- Brandon
- Brick
- Bridgeton
- Bridgewater
- Brielle
- Brigantine
- Bronson
- Brooksville
- Browns Mills
- Burlington
- Bushnell
- Butler
- Callahan
- Callaway
- Camden
- Cape Canaveral
- Cape Coral
- Cape May
- Cape May Court House
- Carneys Point
- Casselberry
- Cedar Grove
- Cedar Key
- Cedar Knolls
- Celebration
- Century
- Champions Gate
- Chatham
- Chattahoochee
- Cherry Hill
- Chester
- Chesterfield
- Chiefland
- Chipley
- Cinnaminson
- City of Westlake
- Clark
- Clayton
- Clearwater
- Clementon
- Clermont
- Clewiston
- Cliffside Park
- Clifton
- Clinton
- Closter
- Cocoa
- Cocoa Beach
- Coconut Creek
- Coconut Grove
- Collingswood
- Colonia
- Colts Neck
- Columbus
- Cooper City
- Coral Gables
- Coral Springs
- Cranford
- Crawfordville
- Cream Ridge
- Crescent City
- Cresskill
- Crestview
- Cross City
- Crystal River
- Cutler Bay
- Dade City
- Dania
- Davenport
- Davie
- Dayton
- Daytona Beach
- DeFuniak Springs
- DeLand
- Deerfield Beach
- Delran
- Delray Beach
- Deltona
- Denville
- Deptford
- Destin
- Doral
- Dover
- Dumont
- Dunedin
- Dunnellon
- East Brunswick
- East Hanover
- East Orange
- East Rutherford
- East Windsor
- Eatontown
- Edgewater
- Edison
- Egg Harbor Township
- Eglin AFB
- Elizabeth
- Ellenton
- Elmer
- Elmwood Park
- Emerson
- Englewood
- Englewood Cliffs
- Englishtown
- Estero
- Eustis
- Ewing
- Fair Lawn
- Fairfield
- Fairview
- Fanwood
- Fellsmere
- Fern Park
- Fernandina Beach
- Flanders
- Fleming Island
- Flemington
- Florham Park
- Florida City
- Forest City
- Forked River
- Fort Lauderdale
- Fort Lee
- Fort Myers
- Fort Pierce
- Fort Walton Beach
- Franklin
- Franklin Lakes
- Franklin Park
- Freehold
- Freeport
- Frenchtown
- Fruit Cove
- Fruitland Park
- Gainesville
- Galloway
- Garfield
- Gillette
- Glassboro
- Glen Ridge
- Glen Rock
- Glendora
- Gloucester City
- Green Brook
- Green Cove Springs
- Greenacres
- Greenwood
- Groveland
- Gulf Breeze
- Gulfport
- Hackensack
- Hackettstown
- Haddon Heights
- Haddonfield
- Haines City
- Hainesport
- Haledon
- Hallandale Beach
- Hamilton
- Hammonton
- Harrison
- Hasbrouck Heights
- Haverhill
- Hawthorne
- Hazlet
- Heathrow
- Hernando
- Hialeah
- Hialeah Gardens
- Highland Park
- Highlands
- Hillsborough
- Hillsdale
- Ho-Ho-Kus
- Hoboken
- Holiday
- Hollywood
- Holmdel
- Holmes Beach
- Homestead
- Homosassa Springs
- Howell
- Hudson
- Hurlburt Field
- Immokalee
- Indialantic
- Indian Harbour Beach
- Indian Shores
- Interlachen
- Inverness
- Irvington
- Iselin
- Islamorada
- Jackson
- Jacksonville
- Jacksonville Beach
- Jamesburg
- Jensen Beach
- Jersey City
- Jonesville
- Juno Beach
- Jupiter
- Kearny
- Kendall Park
- Kenilworth
- Kennedy Space Center
- Key Biscayne
- Key Largo
- Key West
- Keyport
- Keystone Heights
- Kingston
- Kissimmee
- Labelle
- Lady Lake
- Lake Buena Vista
- Lake City
- Lake Hopatcong
- Lake Mary
- Lake Placid
- Lake Wales
- Lake Worth
- Lakeland
- Lakewood
- Lakewood Ranch
- Lambertville
- Land O' Lakes
- Lantana
- Largo
- Lauderdale Lakes
- Lauderdale-by-the-Sea
- Lauderhill
- Laurel Springs
- Lawnside
- Lawrence Township
- Lawrenceville
- Leesburg
- Lehigh Acres
- Leonia
- Lighthouse Point
- Lincoln Park
- Lincroft
- Linden
- Linwood
- Lithia
- Little Egg Harbor
- Little Falls
- Little Ferry
- Little Silver
- Live Oak
- Livingston
- Lodi
- Long Beach Township
- Longboat Key
- Longwood
- Loxahatchee
- Lumberton
- Lutz
- Lyndhurst
- Lynn Haven
- MacClenny
- Madison
- Mahwah
- Maitland
- Manahawkin
- Manalapan
- Manasquan
- Manchester Township
- Mantua
- Manville
- Maple Shade
- Maplewood
- Marathon
- Marco Island
- Margate
- Margate City
- Marianna
- Marlboro
- Marlton
- Marmora
- Martinsville
- Mary Esther
- Mayport
- Mays Landing
- Maywood
- McGuire AFB
- Medford
- Melbourne
- Mendham
- Mercerville
- Merritt Island
- Metuchen
- Miami
- Miami Beach
- Miami Gardens
- Miami Lakes
- Miami Shores
- Miami Springs
- Middleburg
- Middlesex
- Middleton
- Middletown
- Millburn
- Milltown
- Millville
- Milton
- Mims
- Miramar
- Miramar Beach
- Monroe
- Monroe Township
- Montclair
- Monticello
- Montvale
- Montville
- Moonachie
- Moorestown
- Morganville
- Morris Plains
- Morristown
- Mount Dora
- Mount Holly
- Mount Laurel
- Mountainside
- Mulberry
- Mullica Hill
- Naples
- National Park
- Navarre
- Neptune
- Neptune Beach
- Netcong
- New Brunswick
- New Egypt
- New Milford
- New Port Richey
- New Providence
- New Smyrna Beach
- Newark
- Newberry
- Niceville
- Nokomis
- North Arlington
- North Bergen
- North Brunswick
- North Cape May
- North Fort Myers
- North Miami
- North Miami Beach
- North Palm Beach
- North Plainfield
- North Port
- Northfield
- Norwood
- Nutley
- Oak Ridge
- Oakhurst
- Oakland
- Oakland Park
- Oaklyn
- Ocala
- Ocean
- Ocean City
- Ocoee
- Odessa
- Okeechobee
- Old Bridge
- Old Tappan
- Old Town
- Oldsmar
- Oradell
- Orange
- Orange City
- Orange Park
- Orlando
- Ormond Beach
- Oviedo
- Oxford
- Pace
- Pahokee
- Palatka
- Palisades Park
- Palm Bay
- Palm Beach
- Palm Beach Gardens
- Palm City
- Palm Coast
- Palm Harbor
- Palm Springs
- Palmetto
- Palmetto Bay
- Panama City
- Panama City Beach
- Paramus
- Park Ridge
- Parker
- Parrish
- Parsippany
- Passaic
- Paterson
- Patrick AFB
- Paulsboro
- Pemberton
- Pembroke Park
- Pembroke Pines
- Pennington
- Penns Grove
- Pennsauken
- Pennsville
- Pensacola
- Pequannock
- Perry
- Perth Amboy
- Phillipsburg
- Picatinny Arsenal
- Pinecrest
- Pinellas Park
- Piscataway
- Pitman
- Plainfield
- Plainsboro
- Plant City
- Plantation
- Pleasantville
- Pluckemin
- Point Pleasant
- Point Pleasant Beach
- Pompano Beach
- Pompton Lakes
- Pompton Plains
- Ponte Vedra
- Ponte Vedra Beach
- Port Charlotte
- Port Orange
- Port Richey
- Port Saint Joe
- Port Saint John
- Port Saint Lucie
- Princeton
- Princeton Junction
- Punta Gorda
- Quincy
- Rahway
- Raiford
- Ramsey
- Randolph
- Raritan
- Red Bank
- Ridgewood
- Ringwood
- Rio Grande
- River Edge
- River Vale
- Riverview
- Riviera Beach
- Robbinsville
- Rockaway
- Rockledge
- Rocky Hill
- Roebling
- Roseland
- Roselle
- Rosemary Beach
- Rosenhayn
- Royal Palm Beach
- Ruskin
- Rutherford
- Saddle Brook
- Saddle River
- Safety Harbor
- Saint Augustine
- Saint Cloud
- Saint James City
- Saint Johns
- Saint Petersburg
- Salem
- Sanford
- Santa Rosa Beach
- Sarasota
- Satellite Beach
- Scotch Plains
- Sea Bright
- Seaside Heights
- Sebastian
- Sebring
- Secaucus
- Seffner
- Seminole
- Sewell
- Shalimar
- Ship Bottom
- Shrewsbury
- Sicklerville
- Silver Springs
- Skillman
- Sneads
- Somers Point
- Somerset
- Somerville
- South Amboy
- South Daytona
- South Miami
- South Orange
- South Pasadena
- South Plainfield
- Southport
- Spring Hill
- Spring Lake
- Spring Lake Heights
- Springfield
- Starke
- Steinhatchee
- Stratford
- Stuart
- Succasunna
- Summerfield
- Summit
- Sun City Center
- Sunny Isles Beach
- Sunrise
- Swedesboro
- Tallahassee
- Tamarac
- Tampa
- Tarpon Springs
- Tavernier
- Teaneck
- Temple Terrace
- Tenafly
- Tequesta
- Teterboro
- The Villages
- Tierra Verde
- Tinton Falls
- Titusville
- Toms River
- Totowa
- Township of Washington
- Treasure Island
- Trenton
- Trinity
- Turnersville
- Tyndall AFB
- Union
- Union City
- University Park
- Upper Montclair
- Valrico
- Vauxhall
- Venice
- Vero Beach
- Viera
- Vineland
- Virginia Gardens
- Voorhees
- Waldwick
- Wall
- Wall Township
- Wallington
- Warren
- Washington
- Washington Township
- Wauchula
- Wayne
- Wellington
- Wesley Chapel
- West Berlin
- West Caldwell
- West Deptford
- West Long Branch
- West Melbourne
- West Miami
- West New York
- West Orange
- West Palm Beach
- West Trenton
- West Windsor
- Westfield
- Weston
- Westville
- Westwood
- Whippany
- Whitehouse Station
- Wildwood
- Williamstown
- Willingboro
- Williston
- Wilton Manors
- Wimauma
- Windermere
- Windsor
- Winter Garden
- Winter Haven
- Winter Park
- Winter Springs
- Wood Ridge
- Woodbridge
- Woodbury
- Woodcliff Lake
- Woodland Park
- Woodstown
- Woolwich
- Wyckoff
- Yulee
- Zephyrhills
HELOC rates in New Jersey vary between banks and credit unions, with banks generally offering higher rates. Currently, commercial banks in New Jersey have an average APR of 8.8%, while credit unions offer a slightly lower average APR of 8.6%. Credit unions are not-for-profit institutions that often provide more competitive rates.
When choosing between the two, consider more than just rates. Banks may offer more convenience, but credit unions often have better customer service and lower fees. Also, check membership requirements for credit unions and any hidden fees or rate adjustment clauses with both lenders.
How do HELOC rates compare to other borrowing options like personal loans or home equity loans, and when should a homeowner choose a HELOC over these alternatives?
Ramsey Coulter has worked in the mortgage and credit industry for over 10 years. Currently a mortgage loan originator with CMG Home Loans, he specializes in helping first-time homebuyers navigate...
Typically, a HELOC will have a lower interest rate than a personal loan from a bank or credit union. However, HELOCs often have a variable rate, so they can go up or down depending on the current Federal Funds rate. Home equity loans are a fixed rate, so when the Fed increases rates or they remain the same, that is a good time to get a home equity loan.
Personal loans are a solid option despite their higher rates because they are unsecured, meaning there is no collateral (like your home). If you come on hard times and can’t repay a personal loan, you are not at risk of losing your home like you are with a HELOC or home equity loan.
HELOC Payment Calculator
HELOCs have become a popular tool for homeowners across the U.S. looking to tap into their home's equity. Use our New Jersey HELOC payment calculator to determine your monthly payments based on amount draws, APR, and loan terms.
The calculator also provides an amortization schedule, showing the division of payments between principal and interest. Understanding these details can help you manage your HELOC effectively.
New Jersey HELOC Payoff Calculator
This HELOC payment calculator assumes that you take out one lump sum at the start of your interest-only period. Your actual payoff schedule will vary depending on your interest rate and market conditions.
Credit Line Information
Draw Period Payment
$0
Repayment Period Payment
$0
- Graph view
- Table view
- Amortization
Credit Payoff Schedule for Home Equity Line
YEAR
How to Get the Best HELOC Rates in New Jersey
Finding the best HELOC rates in New Jersey can save you thousands over your loan's term. For example, securing a lower rate could reduce your monthly payments significantly. To achieve this, consider these five strategies:
Maintain a strong credit score
The average credit score in New Jersey is 725. Improving it can help you secure more competitive HELOC rates.
Compare offers from multiple lenders
By comparing multiple lender offers, you can find competitive HELOC rates and use them to negotiate better terms.
Reduce your debt-to-income (DTI) ratio
Lower debt-to-income (DTI) ratios show financial stability. Paying off credit card debt can help reduce your DTI ratio.
Increase your home equity
More equity reduces lender risk, leading to better rates. Paying down your mortgage or making home improvements can increase equity.
Review closing costs and rate caps
Closing costs affect loan expenses. Knowing rate caps helps manage HELOC adjustments over time.
HELOC Loan Rates vs. Home Equity Loan Rates in New Jersey
HELOC interest rates in New Jersey average 8.7%, while the best home equity loan rates are at 7.6%. The difference is due to HELOCs having variable rates, which fluctuate more than the fixed rates of home equity loans.
- HELOCs are flexible credit lines with variable rates that can increase in rising interest rate environments, potentially affecting homeowners' finances over time.
- Home equity loans provide a lump sum at a fixed rate, ideal for situations requiring financial certainty or when market stability is preferred.
When deciding between the two, consider whether you value the flexibility of a HELOC or the predictability of a home equity loan. Assess your financial goals and the potential impact on your home's equity to make the best choice.
A cash-out refinance is a HELOC alternative that replaces your existing primary mortgage with a larger loan, allowing you to access cash. Unlike HELOCs or home equity loans, it creates a new primary mortgage.
For instance, if you have a loan backed by the Federal Housing Administration (FHA) and your home is valued at $300,000 with a $150,000 mortgage balance, an FHA cash-out refinance for $200,000 could give you $50,000 in cash, but your new loan payments will be based on $200,000.
FAQ: Best HELOC Rates in New Jersey
The average New Jersey HELOC rates are 8.7%, which are in line with the national average of 8.7%.
Common fees include application, appraisal, annual, and early closure fees, but specifics vary by lender.
HELOC rates in New Jersey average 8.7%, while home equity loan rates are lower at 7.6%, especially for those with bad credit.
Commercial banks in New Jersey offer HELOC rates averaging 8.8%, while credit unions offer lower rates at 8.6%.
The average HELOC rate in New Jersey is 8.7%, while Newark's rates are slightly lower, averaging 8.6%.
MoneyGeek examined 64 different banks and credit unions in New Jersey using S&P Global's SNL Depository Rates dataset to stay current on the latest home equity line of credit rates.
This data is accurate as of October 16, 2024.
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.