Home Equity Loans

Two options for using the value in your home. Help finance that college degree, renovate your house, fund a new business, or your next great adventure. We even help people use their equity up here, to offer cash on a retirement home, or make forever renovations so they can age in place.

OPTION 1: Fixed Rate Home Equity Loan

Borrow up to 83% of the appraised value of your home minus unpaid existing mortgage (or 95% with qualifying criteria).

  • NextStep covers most closing costs, including home appraisal, title search, flood zone determination and credit report fees
  • Repayment period of 5 to 20 years

NYS mortgage tax not included. If closed within 3 years, the member will be responsible to reimburse the credit union for closing costs paid on their behalf.

OPTION 2: Members Choice Home Equity Line of Credit

Borrow up to 83% of the appraised value of your home minus unpaid existing mortgage (or 95% with qualifying criteria).

  • Flexibility of a line of credit and the option to lock all or a portion of the line into a fixed rate and payback term
  • You determine the amount of the option, the length of the repayment term and the repayment method – choose from a 3, 5 or 10 year draw and select a max term of 10, 15 or 20 years

NYS mortgage tax not included. If closed within 3 years, member will be responsible for reimbursing the credit union for closing costs paid on their behalf.