Home Equity Loans

Whether you want to build an addition, renovate your kitchen, add a pool, take the vacation of a lifetime, or simply consolidate debt, a home equity loan allows you to use your home’s value to meet your financial goals. Choose from a Fixed Rate Home Equity Loan or a Home Equity Line of Credit to give you easy access to the funds you need, when you need them. Our simple, straightforward online application makes it easy for you to begin the process, and our lending team is dedicated to assisting you throughout settlement. Ocean City Home Bank continues to offer local service, answering questions and offering help throughout the term of your loan.

Take advantage of the equity in your home to borrow money without affecting your mortgage. A Home Equity Loan from Ocean City Home Bank offers no application fee. The interest you pay may even be tax deductible (consult your tax advisor).

Processing fee of $50 for primary/secondary residence. $150 processing fee for investment properties.

 

A Home Equity Line of Credit is a monthly adjustable loan that is drawn against the equity in your home. By accessing an Ocean City Home Bank Home Equity Line of Credit you will receive the Prime Rate** for the life of the loan. The prime rate is based on the prime rate indicated in The Wall Street Journal on the first business day of each month. The interest you pay may even be tax deductible (consult your tax advisor).

Processing fee of $50 for primary/secondary residence. $150 processing fee for investment properties. You also must pay certain fees to third parties. These fees generally total between $0 and $2,500. If you ask, we will give you a list of the fees you will have to pay to third parties.

 

**Minimum Interest Rate or Floor of 4.50%

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