Home Equity

Home Equity Fixed Loan

Fixed Rate

Let the equity in your home work to your advantage.   A Fixed-Rate Home Equity Loan is probably the best choice to finance a large project or major remodel. With a closed-end loan, you’ll receive the entire loan amount at closing, and can choose from 5 to 15 years to pay it off. No closing costs.*

• Fixed repayment term and schedule
• Lower rate than most other types of loans
• Fixed monthly payment
• Choose from 5 to 15 years to repay
• Loans from $7,500

Loan Rates | Apply Now

Home Equity Disclosures

*The minimum loan/line amount is $7,500 and the maximum is $300,000. Advantage will pay third party fees required for your loan/line, however should you pay off your loan or terminate your line for any reason prior to the third anniversary of the loan/line, you will repay the credit union the fees paid. Closing cost fees paid to third parties range from $300 to $2,800.00. Hazard, flood, and title insurance, if applicable, are required on your property. Available only for one- to –four-family owner-occupied residences within New York State. Properties south of Albany County will not be accepted. Acceptable property locations can change without notice. Rate subject to change without notice. Equity loans and lines are secured with a mortgage on your property. Property must be owned and occupied for at least three months prior to application. Loan closing must be in person at an Advantage branch office. All owners will be required to sign collateral documents at closing. All loans and lines are subject to underwriting review and approval.

Home Equity Line of Credit

Flexibility

A Home Equity Line of Credit (HELOC)* gives you the flexibility to borrow funds as you need them. The line can be reused as it is paid down, without applying for a new loan. Using your line of credit is as easy as writing a check or making a simple online transfer. With ten years of revolving credit, your funds are available anytime up to your limit, and there are no annual fees and no closing costs.**

An Advantage Home Equity Line of Credit (HELOC) offers:

• Rate as low as Prime Minus 0.50%
• Low monthly payments at super low rates
• 10 years of revolving credit to access anytime for any reason up to your limit
• 20 years after that to repay
• Simply write checks from your HELOC or make an online transfer to your Advantage savings or checking account
• No closing costs
• Easily accessible line
• No need to reapply during draw period
• Lines from $7,500

Your Advantage Home Equity Line of Credit gives you low-cost funds to pay for:

• Home Improvement
• Vehicle
• Debt Consolidation
• Vacation
• Educational Expenses
• And More!

Loan Rates | Apply Now

Home Equity Disclosures

**Annual Percentage Rate (APR) may vary monthly and will be based on the highest Prime Rate published in The Wall Street Journal (7.50% as of December 19, 2024) minus 0.50%, for the life of the line of credit. The APR for all lines will not exceed 13.0% or be below 2.75%. The minimum loan/line amount is $7,500 and the maximum is $300,000. Advantage will pay third party fees required for your loan/line, however should you pay off your loan or terminate your line for any reason prior to the third anniversary of the loan/line, you will repay the credit union the fees paid. Closing cost fees paid to third parties range from $300 to $2,800.00. Hazard, flood, and title insurance, if applicable, are required on your property. Available only for one- to –four-family owner-occupied residences within New York State. Properties south of Albany County will not be accepted. Acceptable property locations can change without notice. Rate subject to change without notice. Equity loans and lines are secured with a mortgage on your property. Property must be owned and occupied for at least three months prior to application. Loan closing must be in person at an Advantage branch office. All owners will be required to sign collateral documents at closing. All loans and lines are subject to underwriting review and approval.