Rates as of December 26, 2024
| Owner Occupied | |||||
|---|---|---|---|---|---|
| Loan Type | Rate Calculation | APR/Rate* | Loan Amounts | Apply Now | Download Application |
| SpencerFlex* | Prime Rate | 7.5 | Up To $1,000,000 | Apply Now | Download Application |
*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. 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): if $250,000 or more and secured by properties valued at 1 million or more. A $500 Application Fee will be charged. Commitment Fee of $150 (waived if at least $25,000 is drawn at closing to pay creditors other than Spencer Savings). Optional 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 12/19/24 the Prime Rate as published in the Wall Street Journal was 7.50% resulting in a rate of 7.50%. There is a Maximum Rate of 13.99% and a Floor Rate of 4.50%. Spencer’s Home Equity Line of Credit has a variable rate feature during the 10-year draw period, and, as a result, the APR and the minimum payment can change monthly. Property Insurance is required. Flood Insurance may be required. Rates and terms are subject to change without notice. Home values are subject to appraisal. All loans are subject to credit approval.
| Owner Occupied | |||||
|---|---|---|---|---|---|
| Loan Type | APR/Rate* | Monthly Payment Per $1000 Borrowed | Loan Amounts | Apply Now | Download Application |
| 5 Year Fixed | 6.500% | $19.57 | Up To $1,000,000 | Apply Now | Download Application |
| 7 Year Fixed | 6.500% | $14.85 | Up To $1,000,000 | Apply Now | Download Application |
| 10 Year Fixed | 6.875% | $11.55 | Up To $1,000,000 | Apply Now | Download Application |
| 15 Year Fixed | 7.125% | $9.06 | Up To $1,000,000 | Apply Now | Download Application |
| 20 Year Fixed | 7.375% | $7.98 | Up To $1,000,000 | Apply Now | Download Application |
| 30 Year Fixed | 7.875% | $7.25 | Up To $1,000,000 | Apply Now | Download Application |
| Loan Type | APR/Rate* | Monthly Payment Per $1000 Borrowed | Loan Amounts | Apply Now | Download Application |
|---|---|---|---|---|---|
| 5 Year Fixed First Lien | 5.500% | $19.10 | Up To $250,000 | Contact Us | Download Application |
| 7 Year Fixed First Lien | 5.500% | $14.37 | Up To $250,000 | Contact Us | Download Application |
| 10 Year Fixed First Lien | 5.750% | $10.98 | Up To $250,000 | Contact Us | Download Application |
| 15 Year Fixed First Lien | 6.000% | $8.44 | Up To $250,000 | Contact Us | Download Application |
| 20 Year Fixed First Lien | 6.000% | $7.16 | Up To $250,000 | Contact Us | Download Application |
| 30 Year Fixed First Lien | 6.250% | $6.16 | Up To $250,000 | Contact Us | Download Application |
*APR=Annual Percentage Rate. Payments shown do not include applicable taxes and insurance. Property must be an owner-occupied 1-4 family home in New Jersey located in Mercer, Bergen, Passaic, Hudson, Middlesex, Essex, Morris, Union or Somerset county. Borrowers must meet income eligibility requirements to qualify for this loan product. The special homeowner loan has no fees. Property Insurance is required. Flood Insurance may be required. Rates and terms are subject to change without notice. Home values are subject to appraisal. All loans are subject to credit approval.
| Loan Type | APR/Rate* | Monthly Payment Per $1000 Borrowed | Loan Amounts | Apply Now | Download Application |
|---|---|---|---|---|---|
| 5 Year Fixed | 6.750% | $19.68 | Up To $1,000,000 | Contact Us | Download Application |
| 7 Year Fixed | 6.750% | $14.97 | Up To $1,000,000 | Contact Us | Download Application |
| 10 Year Fixed | 6.875% | $11.55 | Up To $1,000,000 | Contact Us | Download Application |
| 15 Year Fixed | 7.125% | $9.06 | Up To $1,000,000 | Contact Us | Download Application |
| SpencerFlex Line of Credit** | 8.500% | N/A | Up To $1,000,000 | Apply Now | Download Application |
*APR=Annual Percentage Rate. Payments shown do not include applicable taxes and insurance. Investment property must be located in New Jersey or Bucks County, PA. Application Fees as follows: Loans and Lines up to $100,000: $300 (1 family), $350 (2-4 family), Loans and Lines above $100,000: $400 (1 family), $500 (2-4 family); if $250,000 or more and secured by properties valued at 1 million or more. A $500 Application Fee will be charged. Commitment Fee of $150 will be charged on all loans. Flood Insurance may be required. Rates are subject to change without notice. **There is a maximum rate of 13.990% and a floor rate of 5.00%. The rate is the prime rate as published in the Wall Street Journal on the last business day of the month, plus 1.00%. As of 12/19/24 the Prime Rate was 7.50% resulting in a rate of 8.50%. Spencer’s Home Equity Line of Credit has a variable rate feature during the 10-year draw period, and, as a result, the APR and the minimum payment can change monthly. Rates and terms are subject to change without notice. Home values are subject to appraisal. All loans are subject to credit approval.