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Turn your home’s equity into cash

Discover everything you can do with a Home Equity Line of Credit (HELOC) from Bethpage. A HELOC is a flexible revolving line of credit that allows you to tap into the equity of your home to fund large purchases, consolidate debt, or make home improvements. Opportunity is knocking at your home’s door with a HELOC. Apply today!

Benefits of a Bethpage HELOC

  • Great rates
  • No closing costs on loan amounts up to $500,000[3]
  • Low interest-only monthly payments for the first 10 years
  • Payback is based only on what you use and not the full line
  • Convenient access to funds. Just write a check, make a transfer online, or visit a Bethpage branch.
  • Potential for tax-deductible interest
  • Fixed-Rate Loan Option available – lock in some or all of your borrowed funds at a fixed rate for no extra cost[4]
Bethpage HELOC in Queens

Imagine the possibilities

Reach your goals with help from a Home Equity Line of Credit. Borrow against the equity in your house or condominium and use the money you need, when you need it. Here are just some of the ways you can use a HELOC:

Big Projects

Big Projects

Renovate your home, make significant upgrades or repairs.

Major Events

Major Events

Fund a wedding and other celebrations, or pay college tuition.

Financial Planning

Financial Planning

Consolidate debt, reserve money for emergencies, or finance a small business.

HELOC Frequently Asked Questions

What is a Home Equity Line of Credit (HELOC)?
What is home equity?

Home equity is the portion of your home’s value that you own outright. To determine your home’s equity, subtract your outstanding mortgage balance from the current market value of your home.

What are the most popular uses of a HELOC?

HELOCs are commonly used to pay for home improvements, weddings or other celebrations and college tuition.

A HELOC can also be used to consolidate debt. Instead of paying different creditors, you can pay all those debts with a HELOC, reducing your number of bills and payments.

What is the Fixed-Rate Loan Option?
Can I get a HELOC for a condo or co-op?

HELOCs are available for condos; however, Bethpage does not extend HELOCs for co-ops.

How large a line of credit can I obtain?

Lines of credit are available up to $2,000,000. Our calculator can help you determine how much you could qualify for.

What documentation is required for a Home Equity Line of Credit?

To start the application process, you’ll need the following:

  • Two recent pay stubs
  • Full tax returns, including all schedules and W2s
  • First mortgage statement (if you are currently paying a first mortgage)
  • Additional documentation may be necessary
Can I get a HELOC for a second home?

Home Equity Lines of Credit at Bethpage are for the primary residence only