Home Equity = Home Awesome

A Community Resource Home Equity Loan helps you fulfill your dreams…whether your dream is to make needed home improvements or renovations or to simplify your life by consolidating bills. A home equity loan is a loan that is secured by the equity you’ve built up in your home. The equity in your home is the difference between the amount your house is appraised for and what you owe on your mortgage.

 

All of our home equities offer:

  • No annual fees
  • Low closing costs
  • Fixed loans up to $350,000 (1st lien position) / $200,000 (2nd  lien position)
  • Line of credit loans up to $250,000 (1st lien position) / $100,000 (2nd  lien position)
  • Reasonable payment
  • Flexible terms and fast approvals
  • Maximum CLTV is 85%
  • Minimum Loan/Line of Credit amount is $10,000

Fixed Rate Home Equity Loan

  • Take out money in one lump sum
  • Terms up to 20 years

Fixed Rate Home Equity Line of Credit 

  • Convenient check access
  • Access your line for up to 3 years
  • 10, 15 or 20 Year repayment plan

Interest Only Home Equity Line of Credit

  • Annual Percentage Rate adjusts monthly 
  • Convenient check access
  • Access your line for up to 5 years
  • Interest only payments required for first 5 years
  • 25 Year repayment plan

One-Year Adjustable Rate Home Equity Line of Credit

  • Annual Percentage Rate adjusts every (12) twelve months
  • Convenient check access
  • Access your line for up to 10 years
  • 25 Year repayment plan

Three Year Adjustable Rate Home Equity Line

  • Annual Percentage Rate adjusts every three years
  • Convenient check access
  • 15-year repayment plan
  • Access your line for up to 6 years

Apply for a Home Equity Loan. Call (518) 783-2211 or 1-888-783-2211 for more information.

New York State Mortgage Tax is required and paid by the borrower. All other closing costs are paid by the Credit Union, unless disclosed with approval terms and conditions. Closing costs are estimated between $200 and $800. Costs paid by the Credit Union are reimbursed with the payoff amount, if the loan or line of credit is paid in full and discharged within the first (3) three years of loan opening. You should consult a tax advisor regarding the deductibility options of the interest paid.