Fixed-Rate Home Equity Loan
Let the equity in your home work to your advantage.
A Fixed-Rate Home Equity Loan* is probably the best choice to finance a large project or major remodel. With a closed-end loan, you'll receive the entire loan amount at closing, and can choose from 5 to 15 years to pay it off. No closing costs.
- Fixed repayment term and schedule.
- Lower rate than most other types of loans.
- Fixed monthly payment.
- Choose from 5 to 15 years to repay.
- Loans from $7,500
- Tax deductibility (check with your tax advisor).
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*Interest is tax deductible subject to certain limitations. Consult your tax advisor for details. Should you pay off your loan for any reason prior to the third anniversary of the loan, you will repay the credit union the third party fees incurred to open the loan. Closing cost fees paid to third parties range from $300 to $1,000.00. Hazard, flood, and title insurance, if applicable, are required on your property. A home equity loan is secured by a mortgage on your home. Available only for one- to –four-family owner-occupied residences within New York State . Rate subject to change without notice.
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