Home Equity Line of Credit

Enjoy the flexibility of being able to conveniently access funds as needed by simply writing a check. Pay down your line whenever you want, and reuse those funds again and again. This option is a smart and helpful solution for many of our borrowers.

Interest Only

Our easy payment solutions include an “interest-only” option during the draw period of the first 15 years, with the option to pay down your principal at anytime. Your payment is based upon the portion of the line you use. After your 15-year draw period is over, the line converts to a 15-year repayment period, which you will pay monthly principal and interest in fully amortized payments.

Variable Rate

We have a variable-rate home-equity line of credit, based on the Wall Street Journal Prime Rate for up to 30 years. There are no closing costs* to the borrower on lines between $7,500 and $250,000.

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Features

Competitive variable rate
Borrow up to 80 percent of the appraised value of your home, less the balance of any first mortgage
Flexible payment options to suit your budget
Convenient access to funds with personal checks
Monthly statements help you to keep track of all of your activity
Pay down your line whenever you want—and reuse those funds again and again

To learn more please call our Residential Lending Department at (518) 584-5844 or email us.

Mortgage is subject to credit and property approval.

DISCLOSURES:
* NEW HOME EQUITY CUSTOMERS ONLY: The Home Equity Line and Loan is for an 80% Loan to Value. The initial rate of a Home Equity Line of Credit is 3.99% APR for 12 months and is accurate as of 11/19/24. Thereafter variable rate with the Annual Percentage Rate (APR) calculated by adding 0% to the highest Prime Rate published by the Wall Street Journal, currently 7.75% APR.

This limited-time offer is available on loans of $7,500 or more, but less than $250,000 and is subject to change without notice. The maximum amount of the Home Equity Line/Loan based on the value of your property is determined by multiplying 80% of the appraised value of the property minus any outstanding mortgage loan amounts. Property insurance is required, which includes, if required, flood insurance. The Home Equity Line of Credit annual percentage rate cap is 24.99%. Rates may change or not be available at commitment or closing. Other terms and conditions may apply. After an account is opened or service begins, it is subject to its features, conditions and terms, which are subject to change at any time in accordance with the Agreement.

All closing costs are waived on the condition that the Home Equity Line/Loan remains open for three years. (If the Bank attorneys require Title Insurance, you will pay the cost.) Should the Home Equity Line/Loan close prior to three years, all closing costs previously waived would be collected, estimated to range between $645 – $3,270 for Home Equity Lines of Credit up to $250,000.