Home Equity Loans & Lines of Credit

Home Equity Hero

Get the cash you need from the equity you’ve built in your home.

Home equity financing can help pay for home renovations, education expenses, a daughter’s wedding, or a new business. While we recognize every member’s borrowing needs and ability to repay their obligations are different, we also encourage all members to borrow and spend responsibly whatever obligations they may have.

Featured Rates

HELOC 3.25% 4
TLTV up to 80%
variable APR as low as
Home Equity Loan 4.75% 4
To 84 Months
TLTV Up to 80%
fixed APR as low as

Home Equity Financing Features

  • No closing costs.12
  • Competitive rates.
  • Borrow up to 100% of your home, townhouse, or condo’s appraised value, less your first mortgage, up to $250,000.3
  • Available on properties in New York and Connecticut.
  • Possible tax advantages depending on use. Deduct up to 100% of interest paid from your taxes. Consult with your tax advisor to determine your eligibility.
  • Receive account activity notifications via email or a mobile device through CUAlerts, available free through Internet Banking.
  • Rate Discount with AutoPay. Arrange to have your loan payment automatically deducted from your savings, checking, or money market account and HVFCU will lower the interest rate on your loan by .25%!4 In addition to saving money, you’ll never have to worry about being late with a payment, and it will help keep your credit history strong.

Home Equity Financing Options

Fixed Rate Home Equity Loan

  • Fixed rate.
  • Borrow up to 100% of your home, townhouse, or condo’s appraised value, less your first mortgage, up to $250,000.3
  • Take up to 20 years to repay.5

Solar Panel Loan

  • Fixed rate
  • Maximum loan amount of $30,000
  • Borrow up to 100% of solar panel invoice, not to exceed 125% of home value.3
  • Offered on owner-occupied, 1-4 family residences only
  • Take up to 15 years to repay6

Interest Only Home Equity Line of Credit

  • Variable rate.2
  • Borrow up to 100% of your home, townhouse, or condo’s appraised value, less your first mortgage, up to $250,000.3
  • Take five years to draw on your line. During the 5-year variable rate draw period, your funds continue to become available as your balance is paid down. Interest-only payments are required during the draw period, but optional principal payments can be made at any time.12
  • After the initial five-year draw period, you’ll enter into a variable rate repayment period up to 15 years. Principal and interest payments are due during the variable rate repayment period.12
  • Pay nothing unless you use your line.
  • May be used as an overdraft source for checking during variable-rate draw period.7

Overdraft Protection Using Your Line of Credit

Your interest only home equity line of credit (application required), along with your savings account 8, can be used as an overdraft source to cover shortages in your checking account. If you would like to set up overdraft protection from your interest only home equity line of credit, please complete and return our Home Equity Line of Credit Overdraft Coverage Agreement.

Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act (SCRA) gives relief to individuals who are called to active duty in any branch of the military, including reservists or members of the National Guard. Servicemembers are provided interest rate relief on consumer and mortgage loans, relief regarding leases and protections regarding repossession, foreclosure, default judgments and eviction.

If you are a Servicemember and have questions about how SCRA affects your HVFCU loans, please call 845.463.3011 Monday through Friday, 8 am to 7pm ET and Saturday, 9 am to 5 pm ET. We will be happy to discuss any protections and programs that are afforded to you as a Servicemember.

1 Closing costs associated with this product are waived, provided loan is under $150,000 and is maintained for a minimum of three years. HVFCU will pay for property appraisal, credit report, flood certification, attorney fee, mortgage tax, recording fee, and title search. Borrower is responsible for both homeowners and flood insurance. Borrower is responsible for title insurance fees for home equity loans and lines of credit over $150,000.View full APR and disclosure information.

2 The variable rate is subject to increase. Maximum annual percentage rate is 18%.

3 Eligibility and total amount financed for home equity loans and interest only home equity lines of credit are based on an evaluation of applicant credit, appraised value, and existing liens (LTV). The maximum loan amount for 100% LTV is $100,000, the maximum loan amount for 90% LTV is $250,000, and the maximum loan amount for 125% LTV is $30,000 (Solar Loan only).

4 The stated rate is discounted by .25% and includes a requirement that loan payments are automatically transferred from your savings, checking, or tiered money market account for the life of the loan. The monthly payment is not decreased as a result of this discounted rate.

5 As an example, a 180-month term and an 80% total loan-to-value for a home equity loan with a fixed rate of 5.25% APR would result in an estimated payment of $8.04 for each $1,000 financed.

6 As an example, a $30,000 180-month solar panel loan with a fixed rate of 6.50% APR would result in a payment of $261.33.

7 Signed overdraft coverage agreement required.

8 Transactions on this account are subject to a fee and Regulation D withdrawal limitations, and the Truth in Savings Disclosure & Account Agreement.

© 2016 Hudson Valley Federal Credit Union

PO Box 1071, Poughkeepsie, NY 12602-1071
ph: 845.463.3011 / 800.468.3011

Routing Number : 221979363
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