Home Equity Loan
- Fixed Rate
- NO closing costs
- Terms up to 15 years
Call For more details 716-634-3881
(certain terms and conditions apply)
Home Equity
We offer a fixed rate loan with a term up to 15 years when a mortgage
is taken on the borower's residence. The rate is established weekly
and subject to change without advance notice. Pro-rated
prepayment of closing costs is charged if the loan is prepaid off
before the midpoint of the term of the loan.
Use the equity in your home to cover the cost of home improvements,
education, medical expenses, debt consolidation or other major expenses.
The interest paid on a loan which is secured by the borrower's residence
is usually tax-deductible. Be sure to check with your tax adviser.
A lien-only (no search) loan is available when
the desired loan balance is less than $20,000. The available equity
in the home must be substantially greater than the amount borrowed
and the credit report and payment history of the borrower must be
very strong.
Home Equity Line Of Credit
This new service is an open end Line of Credit designed for members interested
in a Home Equity Loan with the convenience of a line of credit. Members are able
to take advances as needed, not just one lump sum. The term is available for up
to 15 years and the rate is variable and is tied to prime rate. However, the rate
may change only two times per year. It's easy, convenient and the interest is tax
deductible! Contact our loan department for more details.
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