Annual Percentage Rate. 4.50% fixed APR for terms up to 5 years. This rate applies to loans up to a 70% Combined Loan-to-Value (CLTV). Maximum CLTV on Vacation Home loans may not exceed 70% CLTV. Other rates are available for 10 and 15 year terms. Loan payment example: a $50,000 loan at 4.50% for 5 years would be $932.14. Vacation homes must be in a location to function reasonably as a vacation home, be suitable for year round residency and be available for the Borrower’s exclusive use (no time shares or rental properties). All loans are subject to creditworthiness. New York State Mortgage Tax is required and paid by the borrower. Title insurance may be required. The remaining closing costs paid by SEFCU on behalf of the borrower will be charged back and added to the payoff amount of the loan if the home equity loan is paid and closed within three years of loan closing. Closing costs are estimated at $200-$600. Rates are as of 3/31/2015 and are subject to change at any time. For members whose owner occupied vacation home is located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming.