Variable Rate Home Equity Line of Credit

TermIntroductory APR* (as low as)Standard APR** (as low as)  
25 year3.00% for first 12 monthsPrime minus 0.50% after first 12 months - As of 9/18/2018, that equates to 4.50%

Annual Percentage Rate. Rates for a Home Equity Adjustable Rate Line of Credit are as low as 3.00% APR for the first 12 months and Prime minus 0.50% thereafter. The rate using the current index minus the margin would be 4.50%. This rate applies to loans up to an 80% Combined Loan-to-Value (CLTV) ratio with a 25 year repayment term. APR is variable based on the Prime rate published in the Wall Street Journal. Prime rate as of 6/14/2018 is 5.00%. Interest and payments adjust annually with a 2% annual cap and a 14.9% lifetime cap. A 10 year draw period is included in the 25 year repayment term. SEFCU offers a rate reduction of 0.25% based on the published rate, margin, floor and lifetime cap for Active US Military and Veterans. Click here for more information. 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 is paid and closed within three years of loan closing. The most common amounts for closing costs are estimated between $200 - $600, but depending on location and other factors it could be higher or lower. Rates in effect as of 9/18/2018 and are subject to change at any time. Product is available for members whose owner occupied primary residence is located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming. Published rates are for new SEFCU loans.

Rate floor is 4.00% (Except for intro rate on some lines.). The minimum loan amount is $5,000.