A Special Homeowner Loan allows you to borrow money for any worthwhile purpose, even if your house has no equity. You can borrow up to $15,000 for college tuition, home improvements and even debt consolidation.
Household income limitations apply. Here is a breakdown by county:
Bergen/Passaic - $51,840, Essex/Morris/Union - $70,720
A Special Homeowner Loan from Spencer means:
• Special low interest rate (1% discount)
• Fixed monthly payments that meet your budget
• No prepayment penalties
• Interest may be tax-deductible (consult with tax advisor)
