Home Equity Lines of Credit

TermIntroductory APR* (as low as)Standard APR** (as low as)
25 year2.50% for first 12 monthsPrime plus 0% after first 12 months - As of 4/29/2017, that equates to 4%

Annual Percentage Rate. Rates for a Home Equity Line of Credit Adjustable Rates are as low as 2.50% APR for the first 12 months and Prime plus 0% thereafter. The rate using the current index plus margin would be 4% which is the lowest rate allowed. This rate applies to loans up to an 80% Combined Loan-to-Value 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 3/16/2017 is 4.00%. 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 U.S. Military and Veterans. Click here for more information. All loans are subject to credit worthiness. 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. Closing costs are estimated at $200-$600. Rates in effect as of 4/29/2017 and are subject to change at any time. Product is available for members whose owner occupied primary residence or vacation home located in New York State or Pennsylvania counties of Susquehanna, Bradford, or Wyoming.

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