There are many reasons for considering a loan. You may want money to pay for home improvements, pay for education, purchase an automobile, pay for a vacation or to help you consolidate debt. Whatever the reason, Peapack-Gladstone Bank offers a full range of financing plans to help make it happen.
Home Equity Fixed Term Loan
By choosing a loan, instead of a line of credit, you lock in a competitive fixed rate, on a specific amount, with fixed payments that will be the same for the life of your loan.
Minimum loan amount of $5,000
Fixed interest rate
Finance up to 80% of 1 to 4 family primary residence
Maximum term of 20 years
Bi-weekly payment option available
Home Equity Line of Credit
A flexible way to borrow against the equity in your home. When you want to use your money, simply write out a check. A competitive variable rate of interest will be charged only on the amount you use. As you repay your outstanding balance, the funds become available for your use again and again during the draw period.
BelowPrimeSM Home Equity Line
Annual Percentage Rate is based on the Prime Rate as published in the Wall Street Journal as of the first business day of the month
Convenient personal checks provided for easy loan advances
Conversion option available
Annual Percentage Rate
Monthly Payment Example per $1,000
Home Equity Fixed Term Loan(1,3)
Up to 60 Months
$18.08 (60 Months)
61 - 120 Months
$10.01 (120 Months)
121 - 180 Months
$7.39 (180 Months)
181 - 240 Months
$6.19 (240 Months)
Home Equity Line of Credit(2)
Prime Minus .25%
(1) APRs are effective as of 05/01/13, are subject to change without
notice and include a discount of .50% for automatic payment from a
Peapack-Gladstone Bank checking or savings account. (2) APRs
are effective as of 05/01/13 and are subject to change without
notice. The APR is based on the Prime Rate as published in the Wall
Street Journal as of the first business day of the month and may vary
monthly, not to exceed the maximum of 16.00%, with a Floor of 3.50%.
The Prime Rate as of 05/01/13 is 3.25%. Maximum LTV 80%, except
where total liens exceed $800,000, then LTV is 65%. Terms subject to
credit approval and can change without notice. Rates apply to owner
occupied residence only. Other conditions apply for lines over $250,000. You must carry insurance on the property that secures this plan. Consult your tax advisor regarding deductibility of interest. Customers may convert all or part of HELOC balance to a fixed rate Home Equity Loan. Transfers must be completed within draw period. Minimum transfer amount of $10,000. Up to 3 transfers allowed. A processing fee of $100 charged for each transfer. Cancellation Fee: $400 if cancelled withing the first 36 months. (3) Other conditions may apply for loans over $250,000. APRs apply to owner occupied residences only. You must carry insurance on the property that secures this plan.
Want More Information From Peapack-Gladstone Bank?
PO Box 700
Bedminster, NJ 07921
Phone: (908) 234-0700