Community Resource Federal Credit Union
Community Resource Federal Credit Union

Fixed Rate Home Equity  

The line of credit based on the equity you have in your home…

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.

Get Started

For further information, call (518) 783-2211 or email [email protected]

Home Equity Loan/Line Rates

Line of Credit TypeRepayment TermAPR* as low asMax AmountDetails
Interest Only HELOCInterest Only payments first 5 years / 5 Year Draw Period / 25 Year Repayment5.00%Maximum Amt: $250,000 in 1st lien position / $100,000 in 2nd lien positionMaximum CLTV = 85%
HE Fixed Installment Terms up to 20 years4.25%Maximum Amt: $250,000 in 1st and 2nd lien positionMaximum CLTV = 85%
3 Year Adjustable10 year draw / 15 year repayment5.00%Maximum HELOC: $250,000 in 1st lien position / $100,000 in 2nd lien positionMaximum CLTV = 85%
Fixed Rate HELOC3 year draw/ up to 20 year repayment4.75%Maximum HELOC: $250,000 in 1st lien position / $100,000 in 2nd lien positionMaximum CLTV = 85%
*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 includes Membership Pays discount. Membership Pay =.25% rate discount with Automatic Payment from a Community Resource FCU Checking Account.
+ = Rate does not qualify for additional rate discount.

A credit union trusted by the world..

Turn the money in your home…

What would you use it for?

  • Home Remodeling and Improvement
  • Vacations
  • Student Loans
  • Debt Financing

All of our home equities offer:

  • No annual fees
  • Low closing costs
  • Various payment frequencies and methods available

4.00%

Into a low-interest loan.

With a fixed-rate as low as 4.00% APR* you can be assured of an excellent terms.  You can access the loan when you need too.

  • 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
*APR= Annual Percentage Rate. 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.

Zero Annual Fees

Making the choice of getting your Home Equity Loan with Community Resource is easy.

With no annual fees there are no suprises and everything is completely upfront.  Talk to our representitive for further information, call (518) 783-2211 or email [email protected]

Low Closing Costs

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. 

Various Payment Frequencies

You can pay your loan like any other loan until the term ends.  You can also choose to pay interest only during the term and then pay the remained of the borrowed amount whent the term ends.

This allows you the flexibility to repay your loan your way.  Community Resource is there for you…

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.

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Get the Money you need

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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

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Come into one of our convenient locations.