A Home Equity Line of Credit (HELOC) is a smart and flexible way to borrow against the equity you have built in your home. Unlike a traditional loan, a Home Equity Line of Credit provides a revolving line, allowing you to access funds whenever you need them—up to your approved credit limit.
With a Home Equity Line of credit, your monthly payment is variable and based on the amount you borrow, not the full credit line, making it a cost-effective financing option. Your monthly payments adjust based on your outstanding balance, giving you greater financial control and flexibility.
Why Choose a Finger Lakes Federal Credit Union HELOC?
✅ No Closing Costs or Annual Fees – Keep more money in your pocket.
✅ Borrow Up to 85% of Your Home’s Equity – Access the funds you need.
✅ Flexible Payments – Payment is based on only what you borrow.
✅ Revolving Credit Line – Access funds as needed, with a 10-year draw period followed by a 15-year repayment term.
Ideal Uses for a Home Equity Line of Credit
✔️ Home Renovations – Boost your property’s value with upgrades.
✔️ Debt Consolidation – Pay off high-interest credit cards with a lower-rate HELOC.
✔️ Education Costs – Finance college tuition or training programs.
✔️ Major Life Events – Cover wedding expenses, vacations, or unexpected costs.
✔️ Emergency Fund – Have a financial safety net for peace of mind.
Take Advantage of Competitive Rates & Flexible Terms
With competitive interest rates and the ability to borrow only what you need, a HELOC gives you the power to finance life’s biggest moments—on your terms.
Ready to Make Your Home’s Equity Work for You?
With low interest rates, flexible terms, and no annual fees, a Finger Lakes Federal Credit Union Home Equity Line of Credit is a cost-effective way to achieve your financial goals. Apply online now, call us, or visit any branch today to start unlocking your home’s potential!
- If discharge is requested within 36 months from date of note, borrower will be obligated to reimburse Credit Union the amount of waived fees.
- Some restrictions apply. Adequate property insurance, and possibly flood insurance is required. 1-4 family, owner occupied primary residence only. Subject to credit approval.
- Consult your tax advisor regarding tax deductibility.
- NMLS ID 493624
- Variable rate adjusted on a quarterly basis according to the Prime lending Rate as published in the Wall Street Journal. The rates are variable and subject to change. The maximum Home Equity APR on new loans that may apply is 16% and the minimum is 3.00%.