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predictable and fixed borrowing

Home Equity Loan

Tap into your home’s value to finally embark on that big home project or purchase you’ve been eyeing. A Home Equity Loan offers the flexibility to pay the funds back over a period of time.

A couple reviewing their home renovation plans.

Key Features of a Home Equity Loan

Enjoy Consistent Monthly Payments

Borrow the funds you need all at once. You’ll have a fixed rate for a specific period of time, so you’ll have a consistent monthly payment.

Competitive Fixed Rate

Get a competitive fixed rate that is lower than other forms of credit.

Terms to Meet Your Needs

Choose from terms up to 20 years.

Included With Your Home Equity Loan

Rate discount

Get a 0.25% rate discount for making automatic payments from your WSFS checking account.

Low minimum loan amount

Borrow as little as $5,000 and up to $2,500,000.

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Online account access

View your loan balance and make your loan payments.

Why Choose a Home Equity Loan?

  • Home improvements: increase your home’s value with renovations such as a kitchen or bath remodel.
  • Large purchases: purchase a car, travel or use for whatever is important to you.
  • Debt consolidation: consolidate debt into one single monthly payment.
  • Pay off outstanding balances on high-interest credit cards.

Interest Rates

Owner-occupied primary single-family residences, second homes and condos are eligible.

Loan Amount

Term

Loan to Value Ratio

Range of fixed APRs[1]

$5,000 – $2,500,000

60 months

0% to 89.9%

as low as 7.24% up to 8.99%

$5,000 – $2,500,000

120 months

0% to 89.9%

as low as 7.24% up to 8.99%

$5,000 – $2,500,000

180 months

0% to 89.9%

as low as 7.24% up to 8.99%

$5,000 – $2,500,000

240 months

0% to 89.9%

as low as 7.49% up to 9.24%

FAQs

Yes, there could be a tax deduction. Please contact your tax adviser to verify if you’re eligible for a deduction.[2]

Single family home, town home, twin home, row home, duplex, manufactured and condominium.

Yes, we allow applications on investment properties. Please contact your local banking office or call Customer Support for more information.

A loan is an amount of money that you borrow for a specified length of time. You will receive a one-time, lump sum that is then paid down with fixed monthly payments for the duration requested and agreed upon. A line of credit is a borrowing limit extended to you. The funds are available during the draw period up to the credit limit established. Monthly payments will be based upon the balance of the line of credit, and payments are variable and fluctuate with the Wall Street Journal Prime rate.


Questions?

Our friendly Associates are here to help 7am-7pm (M-F) and 9am-3pm (on weekends) at 888.973.7226, by scheduling an appointment or visiting the nearest WSFS Banking Office.

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Disclosures

1 Your actual Annual Percentage Rate (APR) may be different than the rate shown. Your APR is based on the specific characteristics of your credit application including but not limited to: evaluation of credit history, amount of credit requested, property type, and/or combined loan to value. The interest rate is fixed for the life of the loan. 7.24% Annual Percentage Rate (APR) is for loan amounts $100,000 or greater with 60- to 180-month term and a FICO score of 750 or higher, collateral property with CLTV up to 75%. Rate shown includes discount of 0.25% requiring automatic payment deductions from a WSFS Bank checking account. Payment example: The monthly payment per $1,000 borrowed at 7.24% APR for the featured term means you would make 180 payments of $9.12. Payments do not include taxes and insurance premiums. The actual payment obligation may be higher. We will pay closing costs on your behalf.

If you pay off your loan within the first 36 months, you will be assessed $375 to reimburse us for those closing costs. Certain fees may apply to loans with collateral property in Maryland. Rates, terms and conditions are subject to change at any time.

2 The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. You should consult a tax adviser for further information regarding the deductibility of interest and charges.

Offer is subject to credit review and approval. Additional rates and terms are available.