Insights
October 06 2025
New Jersey homeowners, here’s the reality: your home has been working overtime as an investment. According to the latest housing data, home prices in the Garden State have continued to climb, with a 5–6% year-over-year increase as of mid-2025. In fact, New Jersey ranked second nationally for home price appreciation in Q4 2024, posting 8.3% annual gains, tied with Connecticut and just behind Vermont (8.9%)2.
But here’s the challenge: many homeowners are sitting on this growing wealth without knowing how to access it. If you locked in a 2.5–4% mortgage rate during the pandemic, the idea of refinancing at today’s 7%+ rates likely feels painful. Selling your home would mean losing that low rate—and competing as a buyer in the same hot market.
Fortunately, there are smarter ways to access your home’s equity while keeping your mortgage intact.
The appreciation isn’t a fluke. Here’s what the most recent data shows:
Four of the five fastest-appreciating states at the end of 2024 were in the Northeast, with New Jersey among the leaders. This growth is driven by strong fundamentals: limited housing inventory, high household incomes, and continued migration to commuter communities near New York City and Philadelphia3.
If you have a $400,000 mortgage at 3% interest, your principal-and-interest payment is about $1,686 per month. Replacing that with a new 7% mortgage would raise your payment to about $2,661 per month—nearly $975 more4. Keeping your existing low rate makes financial sense.
You could sell and cash out your gains, but you’d be re-entering the same competitive market with higher prices and rates. That means you’d spend more to own less.
The smarter move? Access your equity while keeping your original mortgage.
A HELOC is like a revolving credit line secured by your home. Most lenders let you borrow up to 80–85% of your home’s value minus what you owe on your mortgage5.
For example, if your home is worth $580,000 and you owe $300,000, you could access roughly $160,000–$190,000 in equity, depending on lender policy.
Prefer stable payments? A home equity loan gives you a lump sum at a fixed rate—typically 1–2% higher than variable HELOC rates6.
Trovy offers a next-generation HELOC designed for digital convenience and speed. The company’s platform provides fast application turnaround and a linked credit card that lets you draw directly from your equity—an uncommon feature in the HELOC market7.
Key features:
While Trovy’s technology and flexibility stand out, homeowners should compare rates, fees, and terms with multiple lenders. Independent third-party performance data on Trovy’s speed or pricing is limited as of 20257.
If you have significant equity, consider keeping your low-rate first mortgage and adding a HELOC for the funds you need.
Example:
This approach lets you maintain your low first-mortgage rate while gaining flexible access to capital.
Target projects that add value in a competitive market. According to the 2024 Cost vs. Value Report (Mid-Atlantic region)8:
Equity can be a cost-effective source of capital for:
Always weigh potential returns against the risk of borrowing secured by your home.
If you carry high-interest debt, consolidating through a HELOC can reduce your costs dramatically9.
Credit cards often charge 20–25% APR, and personal loans average 10–15% APR. By using a HELOC at around 8%, you could save thousands in interest each year. The trade-off: your debt becomes secured by your home, so responsible repayment is crucial.
Your New Jersey home likely added tens of thousands of dollars in equity over the past year. Instead of letting that value sit idle, consider using it strategically through a HELOC or home equity loan—without losing your low mortgage rate.
A HELOC offers flexibility: you draw what you need, when you need it, and pay interest only on the amount used. With digital lenders like Trovy, you may even have instant access to funds through a credit card tied directly to your line of credit.
In a market as dynamic as New Jersey’s—where opportunities and expenses can change quickly—flexible access to home equity can be one of your most powerful financial tools.
Learn more and see your offer1 below.
