Valley National Bank Launches Community Home Equity Line of Credit Program
Valley’s new reduced variable rate consumer line of credit product will be introduced throughout Valley’s footprint to support LMI communities
Today’s housing market has made it difficult for LMI families to trade up to a home that fits their needs. An alternative solution is to make improvements that provide additional space or new amenities to the existing house using a home equity loan. The Community Home Equity Line of Credit Program features a low 12-month below market introductory rate of
“For more than 95 years, Valley has been dedicated to building stronger communities throughout the areas we serve,” said Kevin Chittenden, Valley Bank Executive Vise President of Consumer Lending. “The Community Home Equity Line of Credit program is just another example of how we’re putting actions behind our words. This product will provide LMI customers with an attractive variable rate to renew, renovate or update their homes at a time of interest rate volatility and economic uncertainty.”
Valley will actively promote this program throughout its footprint with a strong emphasis on raising awareness in LMI communities. This program will complement other LMI consumer lending initiatives such as Valley’s Low Down Payment / No PMI Community Mortgage Loans which have provided first time homebuyers an important point of entry into the market.
FOR MORE INFORMATION
To learn more about Valley’s Community Home Equity Line of Credit and other Community Mortgage Products, reach out to Shawn Cassidy, Director of Mortgage Sales at 516.662.7342
Valley is a member of the FDIC and an Equal Opportunity Lender.
About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with
View source version on businesswire.com: https://www.businesswire.com/news/home/20231116532208/en/
Pam Golden, pam@glapr.com
Source: Valley National Bank
