OverviewEasy meets FlexibilityIf you need an ongoing source of available cash, check out a variable-rate SEFCU Home Equity Line of Credit (HELOC). It's flexible enough to meet nearly every need. |
 Take up to 25 years to repay |
Features & BenefitsCompetitive rates
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Rates
Variable-Rate Home Equity Line of Credit***
| Term | Introductory APR** (as low as) | Standard APR** (as low as) |
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| 25 Years | 1.75% for first 12 months | Prime minus 0.50% after first 12 months – As of 03/16/20, that equates to 2.75% |
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Variable-Rate Home Equity Line of Credit
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Fixed-Rate Home Equity Line of Credit
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Apply for a SEFCU Variable-Rate Home Equity Line of Credit today
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Variable-Rate Home Equity Line of Credit
Access cash over time
Take advantage of a low, variable rate
Draw on the line of credit as needed for 10 years
* The appraised value multiplied by 80%, less the remaining balance on any existing mortgage.
** Annual Percentage Rate. Rates for a Home Equity Adjustable Rate Line of Credit are as low as 1.75% APR for the first 12 months and Prime minus 0.50% thereafter. The rate using the current index minus the margin would be 2.75%. The floor is 2.75%, which is the lowest rate allowed. Other rates and floors are also available. This rate applies to loans up to an 80%
Combined Loan-to-Value (CLTV) ratio with a 25-year repayment term. The maximum CLTV is 75% for loans greater than $100,000 up to $350,000. APR is variable based on the Prime rate published in the Wall Street Journal. Prime rate as of 03/16/20 is 3.25%. 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. Learn more about Paying it Back. All loans are subject to creditworthiness. Rates in effect as of July 11, 2020 and are subject to change at any time. 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. The minimum loan amount is $5,000 and the maximum loan amount is $350,000.
*** 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.