Transform your house into a home. Whether you want to remodel your kitchen with a home improvement loan or turn the equity you've earned into affordable financing for a wide range of needs— we've got options for you!
Key Features
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Competitive Rates
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Quick Decisions
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Local Processing
- Competitive rates for home improvements
- Minimum loan amount of $2,000; maximum unsecured loan is $30,000
- Accommodating repayment terms that fit your budget
- Quick, local decision-making and processing right here in Central New York
- Attentive, friendly service from start to finish
- Competitive rates for several ongoing or seasonal needs:
- Home improvements/renovations
- Education expenses
- Auto purchases/repairs
- Medical expenses
- Family vacations
- Personal expenses
- Debt consolidation
- And much more
- An additional 1/4% (0.25%) rate discount may be possible with a Solvay Bank Direct Rewards Checking, High Interest Checking, and Emerald Checking account
- The existing equity in your home is used as collateral
- Use available funds anytime without reapplying
- Revolving line of credit— as borrowed funds are repaid, the available line can be used again
- Easy access to funds
- Interest only option available during the Draw Period
- The interest paid might be tax deductible1
- Accommodating repayment terms that fit your budget
- Quick, local decision-making and processing right here in Central New York
- Attentive, friendly service from start to finish
- Competitive rates for several short-term or one-time needs:
- Home improvements/renovations
- Education expenses
- Auto purchases/repairs
- Medical expenses
- Family vacations
- Personal expenses
- Debt consolidation
- And much more
- An additional 1/4% (0.25%) rate discount may be possible with a Solvay Bank Direct Rewards Checking, High Interest Checking, and Emerald Checking account
- The existing equity in your home is used as collateral
- The interest paid might be tax deductible1
- Accommodating repayment terms that fit your budget
- Quick, local decision-making and processing right here in Central New York
- Attentive, friendly service from start to finish
All loans & lines are subject to credit approval.
1. Home Improvement loans are closed-end, unsecured loans at a fixed interest rate. As of 9/14/23, the annual percentage rate (APR) advertised is the lowest APR available and is discounted 0.25% for Solvay Bank account holders with automatic payments from a Direct Rewards, Emerald, or High Interest checking accounts. The actual rate and payment amount may vary, and is determined by the product, term, loan amount, and your credit qualifications. Additional terms and conditions may apply. Offer is subject to credit approval. Rates and terms are subject to change without notice.
2.APR is variable and may change monthly, based upon the Prime rate as published in The Wall Street Journal (8.50% on 9/14/2023), but will not exceed 15.00%. Offer is available on first and second liens with a maximum CLTV of 90% on single-family, owner-occupied residences. HELOC is a 10-year open-end draw line with interest-only monthly payments and 15-year fully amortized monthly payments of principal and interest. Offer is subject to credit approval. Property insurance and, if applicable, flood insurance are required. No closing costs for loans up to $250,000. If you cancel/close your line within 3 years you must reimburse the bank for any third party fees such as appraisal, title, taxes, mortgage recording fee, flood fee & credit report fees (ranging from $553.96 - $2,516.04) at the time of cancellation. Loans over $250,000: borrower is responsible for 1.00% mortgage tax. Consult tax advisor for tax deductibility. Rates, terms and conditions are subject to change without notice. No other discounts will apply.
3. Home Equity loans are closed-end, secured loans at a fixed rate of interest. As of 9/14/23, the annual percentage rate (APR) advertised is the lowest APR available and is discounted 0.25% for Solvay Bank account holders with automatic payments from a Direct Rewards, Emerald, or High Interest checking accounts. The actual rate and payment amount may vary, and is determined by the product, term, loan amount, and your credit qualifications. Additional terms and conditions may apply. Offer is subject to credit approval. Property insurance and, if applicable, flood insurance are required. No closing costs for loans up to $250,000. If you cancel/close your loan within 3 years you must reimburse the bank for any third party fees such as appraisal, title, taxes, mortgage recording fee, flood fee & credit report fees (ranging from $553.96 - $2,516.04) at the time of cancellation. Loans over $250,000: borrower is responsible for 1.00% mortgage tax. Consult tax advisor for tax deductibility. Rates, terms and conditions are subject to change without notice. No other discounts will apply.
1Consult a tax advisor