Fixed-Rate Home Equity Loan

*The appraised value multiplied by 80%, less the remaining balance on any existing mortgage for loans $250,000 and below. The appraised value multiplied by 75%, less the remaining balance on any existing mortgage for loans over $250,000 up to $350,000. 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 80% CLTV and for loans closing in first or second lien position. The maximum CLTV is 75% for loans greater than $250,000 up to $350,000. 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 April 22, 2021 and are subject to change at any time. Published rates are for new SEFCU loans.

^ 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 70% CLTV. Other rates are available up to 70% 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 April 22, 2021 and are subject to change at any time. Published rates are for new SEFCU loans. 

***All loans are subject to creditworthiness. New York State Mortgage Tax is required and paid by the borrower. Title insurance and recording fees may be required in certain situations. 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. Product is available for members whose owner-occupied primary residence located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming. For the Fixed-Rate Home Equity Loan, the minimum loan amount is $5,000 and the maximum loan amount is $500,000. For the Fixed-Rate Home Equity Vacation Home Loan, the minimum loan amount is $5,000 and the maximum loan amount is $350,000.