Rates — Home Equity Loans

Rates effective October 22nd, 2014.

APR = Annual Percentage Rate


Home Equity Fixed Rate Loan

Home Equity Fixed Rate Loan rates may be discounted 0.25% when a Direct Rewards Checking account is opened and maintained and the payment is deducted from that account.

TermCurrent Interest RateAPREst Payment $10,000 5/10/15 Yrs
36 to 60 Months4.250%4.250%$185.30
61 to 120 Months4.250%4.250%$102.44
121 to 180 Months4.500%4.500%$76.50
  • Loan Limits from $5,000 to $300,000
  • No closing costs¹ for loans of $100,000 or less
  • At closing, the Borrower will be required to pay New York State Mortgage Tax of 1% on any portion of the loan which exceeds $100,000
  • Fixed rate / amortized monthly payment
  • Maximum available equity is 75%-90% of the appraised value minus the balance of the first mortgage
  • Subject to credit approval
  • Property Insurance is required
  • Consult tax advisor for tax deductibility

Rates are subject to change and set based upon the current rate for the day you apply.

¹To qualify for no closing costs, customers must maintain the Home Equity Fixed Rate Loan in good standing for 36 months. Early discharge of the Home Equity Fixed Rate Loan, for any reason within 36 months of the original note date, may require payment of closing costs at the time of cancellation. These third party fees generally total between $511 and $1,199.

Home Equity Variable Rate Line of Credit

Home Equity Variable Rate Line of Credit rates may be discounted 0.25% when a Direct Rewards Checking account is opened and maintained and the payment is deducted from that account.

RateCurrent Prime RateAnnual Percentage Rate
Prime + 0%
(3.25% minimum / 15% maximum)
3.25%3.25%
  • Loan Limits from $5,000 to $300,000
  • No closing costs² for loans of $100,000 or less
  • At closing, the Borrower will be required to pay New York State Mortgage Tax of 1% on any portion of the loan which exceeds $100,000
  • Variable Rate / Minimum payment of monthly accrued interest
  • Maximum available equity is up to 90% of the appraised value minus the balance of the first mortgage
  • Credit line checks provided for easy access to line
  • Property Insurance is required
  • Subject to credit approval
  • Consult tax advisor for tax deductibility

Rates are variable and may adjust monthly based on changes to the Prime Rate, as published in the Wall Street Journal.

²To qualify for no closing costs, customers must maintain the Home Equity Line of Credit in good standing for 36 months. Early discharge of the Home Equity Line of Credit, for any reason within 36 months of the original note date, may require payment of third party fees at the time of cancellation. These third party fees generally total between $506 and $1,194.