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Choose the right Home Equity option for your needs!
Fixed First Lien and SpencerFlex

With a SpencerFlex line of credit, you can use the equity in your home to borrow on an as-needed basis, and repay as you go. A home equity line of credit is ideal for homeowners who wish to have a cash resource available for home improvements, education costs, a major purchase, or unexpected expenses. Down the road, you can choose to lock in a fixed rate for all or part of your balance ($25,000 minimum), without having to reapply.

SpencerFlex Rate

Fixed First Lien

Use a Fixed First Lien loan as a low-cost way to refinance your home! For homeowners who have built significant home equity, a fixed first lien offers lower closing costs than a traditional mortgage, with predictable monthly payments. Cash-out refinancing can also provide the resources to consolidate debts, fund home improvements, or cover major expenses.

Fixed First Lien 10 Year

Fixed First Lien 20 Year

Call Today!

Speak with a Customer Service Representative at 1-800-363-8115.

 

SPENCERFLEX: *New customers only. APR=Annual Percentage Rate. Property must be an owner-occupied 1-4 family home in New Jersey or Bucks County, PA. Application Fees as follows: Lines up to $150,000: $150 (which will be waived for first time Spencer Home Equity Line applicants), Lines above $150,000 up to $249,999: $225 (1 family), $450 (2-4 family), Lines of $250,000 or more: $300**(1 family), $450 (2-4 family); **however, if the line is secured by a property in excess of 2,800 square feet a fee of $500 will be charged. Commitment Fee of $150 (waived if at least $25,000 is drawn at closing to pay creditors other than Spencer Savings). Conversion Fee of $75 ($125 in the first year). Early Termination Fee if line is closed within the first 24 months: $300 (lines up to $100,000) or $500 (lines above $100,000). As of 3/16/17 the Prime Rate as published in the Wall Street Journal was 4.00% resulting in a Rate of 3.50%. There is a Maximum Rate of 13.990% and a Floor Rate of 2.75%. Property Insurance required. Flood Insurance may be required. Rates and terms are subject to change without notice. All loans are subject to credit approval.

FIXED FIRST LIEN: *APR=Annual Percentage Rate. Loan must be secured by a first lien on an owner-occupied 1-4 family home in either New Jersey or Bucks County, PA. Application Fees (which will be billed after we provide you with the necessary disclosures) are as follows: Loans above $150,000 up to $249,999; $225 (1 family), $450 (2-4 family). Loans of $250,000 or more: $300 (1 family), $450 (2-4 family); however, if the loan is secured by a property of 2,800 square feet or more a fee of $500 will be charged. Previous Spencer applicants (within the past 12 months) and Spencer refinances will be charged an Application Fee regardless of loan amount. Commitment Fee of $150 is charged on all loans. Property Insurance is required. Flood Insurance may be required. Payments shown do not include applicable taxes and insurance. Rates and terms are subject to change without notice. Offer is subject to credit approval.