Fixed Rate Home Equity LOC
The right choice if you have a one-time need for funds and want the security of a fixed rate.
Community Resource Home Equity loan options include fixed and variable rates with flexible terms.
In some cases, you can borrow up to 85% of the available equity in your home for home improvements, debt consolidation, education, or other major purchases.
Apply now or call to speak to a Financial Services Representative.
The right choice
Home Equity Loan/Line Rates
| Line of Credit Type | Repayment Term | APR* as low as | Max Amount | Details |
|---|---|---|---|---|
| Interest Only HELOC | Interest Only payments first 5 years / 5 Year Draw Period / 25 Year Repayment | 7.00% Intro Then Prime + Margin | Maximum Amt: $250,000 in 1st lien position / $100,000 in 2nd lien position | Up to CLTV = 80% |
| HE Fixed Installment | Terms up to 20 years | 6.00% | Maximum Amt: $350,000 in 1st and $200,000 in 2nd lien position | Up to CLTV = 100% |
| 3 Year Adjustable | 10 year draw / 25 year repayment | 6.00% Intro Then Prime + Margin | Maximum HELOC: $250,000 in 1st lien position / $100,000 in 2nd lien position | Up to CLTV = 100% |
| Fixed Rate HELOC | 3 year draw/ up to 20 year repayment | 6.50% | Maximum HELOC: $250,000 in 1st lien position / $100,000 in 2nd lien position | Up to CLTV = 100% |
| Secured Home Improvement | 20-year loan term | 7.00% | Maximum Amount: $250,000: Home Improvement only / Bid/material list must be included | Up to CLTV = 133% |
| Unsecured Home Improvement | 10-year or 15-year loan term | 8.74% | Maximum Amount: up to $30,000: Home Improvement Only / Bid/material list must be included | n/a |
*APR = Annual Percentage Rate. All rates quoted are the lowest available rates, the actual interest rate will be based on overall creditworthiness. Variable rates may increase over time. All rates and terms are accurate as of today and are subject to change without notice. All Rates shown are as low as. For current rates call (518) 783-2211. Please refer to your Terms and Disclosures or contact any Community Resource employee for more detailed information
+ = Rate does not qualify for additional rate discount.
All of our home equities offer:
- No annual fees
- Low closing costs
- Fixed loans up to $350,000 (first lien position) / $200,000 (second lien position)
- Line of credit loans up to $250,000 (first lien position) / $100,000 (second lien position)
- Flexible terms and fast approvals
- Maximum CLTV is 85%
- Minimum Loan/Line of Credit amount is $10,000
- Various payment frequencies and methods available
For further information, call (518) 783-2211 or email [email protected].
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 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, approximately $400 – $800. You should consult a tax advisor regarding the deductibility options of the interest paid.
Ready to Reimagine your home
With an interest-only HELOC, you have the convenience of a one-time application.
Once it is established, you may borrow, repay, and borrow again up to your available credit line.
This is a great option for those who want a low minimum monthly payment as you will only pay interest during the 5-year draw period!
Get started by clicking the button below:
How to Open an Account
What you need to get started
Talk to a Loan Specialist
518-783-2211
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