Home Equity Loans

One of the best parts of owning a home is the ability to build equity over time. Whether you’re looking to add on or update a room, our home equity loan or line of credit can help you finance your home improvement project. But knowing which is right for you is where the personal touch comes in.

Is a Home Equity Loan Right for Me?

Commonly known as a second mortgage, home equity loans allow you to borrow a specific amount of money against the value of your home. Meaning, you can borrow money you’ve already paid on your mortgage and immediately begin paying it back in addition to your monthly mortgage payment.

Maybe a Home Equity Line of Credit is Better Suited?

Similar to a credit card, only far more flexible and with a much better rate, a home equity line of credit allows you to borrow money against the value of your home. With the revolving feature, you can decide how much principle you’d like to pay down for a period of 10 years. If a balance remains at the end of the 10-year revolving period, we can conveniently convert the line of credit to a loan. Whichever option is right for you, Adirondack Regional Federal Credit Union works directly with you to understand the terms, close the loan fast, and get you started on your project.


Home Equity Loans & Lines of Credit Rates

Effective as of: 3/30/2021
Loan Type Approximate Term Annual Percentage Rate as Low As
Home Equity Loan
1-15 years 4.25%
Home Equity Line of Credit
10 year draw Prime minus 0.25%