Fixed-Rate Home Equity Line of Credit

Products, services, terms, and conditions are subject to change without notice. All loans are subject to creditworthiness. SEFCU membership is required.

*The appraised value multiplied by 90%, less the remaining balance on any existing mortgage for loans $350,000 and below.

**Annual Percentage Rate. The Annual Percentage Rate (APR) listed is estimated based on first lien position and a maximum combined-loan-to-value of 50%. Your actual APR may vary based on multiple factors along with your credit rating in relation to your loan request. The 6.00% fixed APR is for credit qualified loans closing in first lien position. This rate applies to loans up to a 50% Combined Loan-to-Value (CLTV) ratio with a 15-year repayment term. Other rates are available up to 90% CLTV for loans closing in first or second lien position. For qualified vacation homes, the mximum CLTV is either 50% or 80% depending on your credit rating in relation to your loan request. A 5-year draw period is included in the 15-year repayment term. During the 5-year draw period, payments are interest only. The interest is calculated daily based on the balance owed and the rate for each day of the month and is then aggregated to determine the amount of the monthly payment. After this period, payments will convert to principal and interest calculated at the remaining 10-year term. Loan payment example: a $50,000 loan at 6.00% for 15 years, interest only payment would be approximately $254.79 and will vary slightly depending on the number of days in the month. The principal and interest payment would be $555.11 calculated over the remaining term of 10 years. SEFCU offers a rate reduction of 0.25% based on the published rate for Active US Military and Veterans. Learn more about Paying It Back. Rates in effect as of December 2, 2022 and are subject to change at any time.

***All loans are subject to creditworthiness. Title insurance may be required and is paid by the borrower. Closing costs paid by SEFCU, on behalf of the borrower, will be paid on loan amounts up to and including $250,000 and will be 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 $300 and $4,000 but depending on location and other factors it could be higher or lower. For loan amounts greater than $250,000 all closing costs will be paid by the borrowers at the time of closing.  Rates in effect as of 11/16/2022 and are subject to change at any time. For the Fixed-Rate Home Equity Line of Credit, the minimum loan amount is $10,000 and the maximum loan amount is $350,000. For the Variable Rate Line of Credit, the minimum loan amount is $10,000 and the maximum loan amount is $500,000. The maximum loan amount for qualified vacation homes is $350,000. Product is available for members whose owner-occupied primary residence located in New York State or Pennsylvania counties of Susquehanna, Bradford, or Wyoming. Published rates are for new SEFCU loans.