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Shore Community Bank Newsletter  |  732-573-1136September 2017

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Shore Specials!

Join us in celebrating our 20th Anniversary!

Limited Time Only!

Home Equity Line of Credit Special Offer

Introductory Variable Rate First Twelve Billing Cycles Prime -.50%      3.75% APR1 (variable)

Thereafter, Receive a Competitive Variable Rate of …                             4.75% APR1 (variable)

Shore Community Bank’s Home Equity Line of Credit Features:

  • 1st lien position only
  • Minimum loan amount of $50,000
  • Initial draw of $25,000 at time of closing
  • No Annual Fees
  • No Closing Fees
  • Access your funds by check or direct transfer
  • Manage your account through Shore 24 Online Banking
  • Interest may be tax deductible2

Call or visit us at any one of our convenient locations to fill out an application.

1 The introductory variable Annual Percentage Rate (APR) shown equates to Prime minus .50%. This APR will apply to the first twelve (12) billing cycles after closing. Thereafter, the APR will be at Prime + .50%for the life of the credit line. Prime equates to the highest Prime Rate as quoted in the Wall Street Journal on the last business day of the prior month. As of 7/10/17, the Prime Rate was 4.25% resulting in the advertised variable introductory APR of 3.75%. The credit line is a 20 year term with a 10 year draw period. Line of credit is subject to credit approval. Rates/APRs are variable and subject to change without notice. During the term of the line of credit, your interest rate will never exceed 16%. This is a variable rate transaction. The APR is subject to change. Maximum Loan to Value is 80%. Property securing the line of credit must be a 1-4 family primary or secondary residence located in New Jersey. Insurance must be sufficient to cover the line of credit including but not limited to hazard and flood. Offer valid on lines of credits with a minimum amount of $50,000 and a minimum draw of $25,000 at time of closing. Other rates are available for lines of credit in amounts below $50,000. Early termination fees may apply if the loan is terminated within the first three (3) years. Ask us for details.

2 Consult your tax advisor
Member FDIC      Equal Housing Lender
Mortgage Rates!


30 Year Conventional Fixed Rate        3.75%    APR 3.82%*
 15 Year Conventional Fixed Rate        3.25%    APR 3.15%**

Call 732.573.1136 or visit any one of our Branches for a customized rate quote and
FREE mortgage checkup!


*Payment example:  On a 30 year fixed mortgage with a loan amount of $200,000 and an interest rate of 3.75%, the principal and interest payment would be $926.23 per month.  ** On a 15 year fixed mortgage with a loan amount of $200,000 and an interest rate of 3.25%, the principal and interest payment would be $1,405.34 per month. Rates based on 20% down payment purchase transaction up to $417,000 loan amount.  Interest rates on mortgages may vary. Rates are subject to change without notice.

What is a Home Equity Loan?
Check out this loan option that might be available to you

Buying a home is typically the largest purchase that many Americans will make in their lifetimes—and most won’t own their home outright for 15 to 30 years, depending on their mortgage term. As you pay off your mortgage month by month, the percentage of property that you own increases. This is called “equity,” which defines in real estate as the difference between the market value of the home and how much is still owed to the mortgage lending institution. When you need extra funds, it is possible to take out an equity loan against the value of your dwelling.

What to Know About Venture Capital
What is venture capital and what are its upsides and drawbacks?

If you have what you think is a sure-fire, money-making idea that needs a bit of support to get off the ground, then you may or may not have considered the possibility of seeking out venture capital. If you haven’t considered going that route, or you have and simply do not know where to start, here is what you need to know.

How to Plan and Pay Taxes When You’re Self-Employed
Filing taxes can be a simple, straightforward process with the right tools

Tax season is often a trigger for headaches, confusion and spending hours sifting through a plethora of confusing forms. If you’re self-employed, filing taxes can be even more confounding. Make your life easier by discovering how much you can expect to pay in taxes each year as well as which forms you need to fill out.

Tricks to Encourage Better Reading Habits
Get in the habit of reading with these tips

Escaping into a good book is a mindful indulgence for your brain, heart and soul. Whether you prefer historical fiction, true stories, romantic novels, comedic escapades or features in the daily newspaper, reading strengthens your memory, challenges your thinking and, according to the experts at, “expands your vocabulary, sharpens writing skills, hones critical and analytical skills, reduces stress and boosts concentration.”

Published by Shore Community Bank
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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.
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