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Magyar Bank
Free in Google Play

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Magyar Bank
Free in the App Store

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Magyar Bank
Free in the App Store

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Home Equity Image

Home Equity

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.

  • Home improvements
  • New Car
  • College Tuition
  • Consolidate Existing Loans

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.

Current Rates

APY (Annual Percentage Yield) effective and subject to change without notice.

TermRatePointsAPRP & I payment per $1,000

2nd Lien Home Equity Loans

20 Years

5.000%

0

5.000%

$6.60

15 Years

4.750%

0

4.750%

$7.78

10 Years

4.500%

0

4.500%

$10.36

5 Years

4.250%

0

4.250%

$18.53

1st Lien Home Equity Loans

20 Years

3.750%

0

3.750%

$5.93

15 Years

3.500%

0

3.500%

$7.15

10 Years

3.250%

0

3.250%

$9.77

5 Years

 3.000%

3.000%

$17.97

*APR (Annual Percentage Rate) is subject to change without notice. Subject to credit approval. $10,000 minimum loan amount, $500,000 maximum loan amount. Eligible properties include 1-4 family primary residences or second homes (single family home or condos). Property insurance is required.

Home Equity Line of Credit

Current Rate - 4.00 %

Interest Rate/APR - Prime Rate as published in the Wall Street Journal + 0.25 (currently 3.5), subject to change, with a floor of 4.00%. This rate assumes no Auto Pay established. For loans with Auto Pay from a Magyar checking account and a Combined Loan To Value of 70% or less APR is Prime Rate minus 1.00% currently 4.00% APR

Payment - Minimum monthly payment will be based on interest due during the initial 10 year draw period. 

Term - 10 years draw period followed by a 15 year amortized repayment period

$25 annual maintenance fee. $400 early termination fee if the line of credit is closed within 24 months of opening.

Apply Now

Call 1-888-990-2265 or complete the information form for more information.

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