Home Equity Line Of Credit Rate

​Home Equity Line of Credit Rate Information.

PCSB Bank offers a robust Home Equity Line of Credit product that is designed to meet a wide range of borrowing needs. A PCSB Bank representative will be happy to discuss our product with you and how it can help meet your needs.

Our Home Equity Credit product is available for 1-4 family owner-occupied residences located in our lending market within New York, Connecticut and New Jersey. The maximum loan-to-value (LTV) is 80% of appraised value. Properties valued at over $1 million may be subject to a lower LTV. Property insurance is required.

To complete an application online for a Home Equity Line of Credit, click the Apply Now button.  

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CURRENT PRIME RATE AS OF
MARCH 1, 2024 = 8.50%.

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LINE AMOUNT INDEX MARGIN ANNUAL PERCENTAGE RATE*
$25,000 - $500,000 WSJ Prime +.0% 8.50%
 

Annual Percentage Rate (APR) reflects a 0.25% discount for auto-pay from a PCSB Bank personal checking or savings account.

*Rate shown is for 1-4 family, owner-occupied residences located in our lending market within New York, Connecticut and New Jersey. Maximum loan-to-value (LTV) is 80% of appraised value. Properties valued at over $1 million may be subject to a lower LTV. Property insurance is required. Our Home Equity Line of Credit has a 20-year draw period followed by a 20-year repayment period for owner-occupied properties. A $40 Annual Fee is waived for the first year. The Annual Percentage Rate (APR) varies daily, is based on the Prime Rate as listed in the Wall Street Journal (Prime) plus or minus a margin, and will also depend on the amount of the Home Equity Line of Credit that we approve. However, the APR will not be less than 3.00% APR or more than 16% APR. As of 2/8/2024, the Prime Rate is 8.50% APR. Minimum Line of Credit is $25,000. For Home Equity Lines of Credit of $25,000 to $500,000, the APR will be at Prime currently 8.50% APR. APRs reflect a 0.25% auto-pay discount from a PCSB Bank checking or savings account. Credit approval is required. Offer is subject to change without notice. All terms and conditions describe owner-occupied properties. Other terms, conditions and restrictions may apply. For more information, please contact a bank representative or see the Important Terms disclosure.