Fixed-Rate Home Equity Loan

Overview

Use your home for cash

Home improvements, college tuition, a new car — whatever you’re thinking of, a SEFCU Fixed-Rate Home Equity Loan could make it a reality.  

home

Take up to 15 years to repay

Features & Benefits

Leverage your home's equity

  • Borrow up to 85%* of the equity in your home for loans $350,000 and under.
  • Borrow $5,000 - $500,000 on primary residences and $5,000-$350,000 on vacation homes.
  • Get cash in a lump sum
  • Fixed rate for the life of the loan
  • 5, 10, and 15year terms available
  • Monthly repayment or bi-weekly transfer to Owner's Choice account for monthly payment available.
coins and dollar sign

 


Rates

Fixed-Rate Home Equity Loan***

Approximate Repayment Term APR** as low as
5 years 2.45%
10 years 2.70%
15 years 2.95%

Fixed-Rate Home Equity Vacation Home Loan***

Approximate Repayment Term APR^  as low as
5 years 3.20%
10 years 3.45%
15 years 3.70%

Compare

See which is best for you

Fixed-Rate Home Equity Loan

  • Fixed rate for the life of the loan
  • Receive the entire amount in one lump sum
  • Interest payments begin right away
  • Fixed repayment schedule

 

Fixed-Rate Home Equity Line of Credit

  • Fixed rate for 15 years
  • Draw on credit as needed for 5 years
  • No interest or payments until you draw on the credit
  • Pay only interest on used credit for the first 5 years

Learn More


Apply Now

Apply for a SEFCU Fixed-Rate Home Equity Loan

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Call 800-727-3328

Financial Education

Calculator

Fixed-Rate Home Equity Loan

Get cash now

Get immediate cash for expenses

Borrow up to $500,000

 

View Fixed-Rate Home Equity Loan

 

More to think about...

Online Loan Payments

Online loan payments

Pay your SEFCU loan from an account at another financial institution from your phone, tablet, or computer

*The appraised value multiplied by 85%, less the remaining balance on any existing mortgage for loans $350,000 and below. The appraised value multiplied by 75% for loans closing in first lien position and the appraised value multiplied by 65% less the remaining balance on any existing mortgage for loans closing in second lien position determines the maximum Combined Loan-to-Value (CLTV) for loans greater than $350,000 up to $500,000.
**Annual Percentage Rate 2.45% fixed APR for terms up to 5 years for credit qualified loans closing in first lien position. This rate applies to loans up to a 50% Combined Loan-to-Value (CLTV). Other rates are available up to 85% CLTV and for loans closing in first or second lien position. For loan amounts greater than $350,000 up to $500,000, the maximum CLTV is 75% for loans closing in first lien position and 65% for loans closing in second lien position Loan payment example: a $50,000 loan at 2.45% for 5 years would be $886.27. SEFCU offers a rate reduction of 0.25% based on the published rate for Active US Military and Veterans. (See Paying it Back  for more information).  Rates in effect as of November 30, 2021 and are subject to change at any time. Published rates are for new SEFCU loans. Product is available for members whose owner-occupied primary residence is located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming.
^Annual Percentage Rate 3.20% fixed APR for terms up to 5 years for credit qualified loans. This rate applies to loans up to a 50% Combined Loan-to-Value (CLTV). Maximum CLTV on Vacation Home loans may not exceed 75% CLTV. Other rates are available up to 75% CLTV. Loan payment example: a $50,000 loan at 3.20% for 5 years would be $902.89. Vacation homes must be in a location to function reasonably as a vacation home, be suitable for year round occupancy and be available for the Borrower’s exclusive use (no time shares or rental properties). SEFCU offers a rate reduction of 0.25% based on the published rate for Active US Military and Veterans.  (See Paying it Back  for more information). Rates in effect as 11/30/2021 - 00:54 and are subject to change at any time. Published rates are for new SEFCU loans. Product is available for members whose vacation home is located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming.
***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 and $600 but depending on location and other factors it could be higher or lower. Rates in effect as of 11/30/2021 - 00:54 and are subject to change at any time. Published rates are for new SEFCU loans. For the home equity closed-end loan, the minimum loan amount is $5,000 and the maximum loan amount is $500,000. For the home equity closed-end vacation loan, the minimum loan amount is $5,000 and the maximum loan amount is $350,000.