Home Equity Loan
With a Palisades Credit Union Fixed Rate Home Equity Loan you can enjoy the predictability of fixed payments every month. Fixed Rate Home Equity Loans allow homeowners to use available equity to help finance home improvements, tuition, debt consolidation, vacations or to refinance existing mortgages with higher rates.
Fixed Rate Home Equity Features:
- Fixed Rate over the life of the loan.
- No Closing Costs on loans up to $250,000.1
- Refinance existing Mortgages / Home Equity Loans.
- Set up account activity notifications through Online Banking.
- Available on properties in New York, New Jersey, Connecticut, Massachusetts, and Pennsylvania.
- Possible tax advantages. Consult with your tax advisor to determine eligibility.
1 Average closing costs for loans of $250,000 are $3121.
* APR=Annual Percentage Rate. Fixed terms of up to 180 months. Minimum loan amount is $25,000, maximum loan amount is $500,000. A Home Equity Loan is secured by a first or second mortgage, which must be the borrower's primary residence and consist of residential 1-4 unit dwelling, condo or Planned Urban Development (PUD). Offer applies only to properties located in NY, NJ, CT, PA and MA. Maximum loan to value ratio in first position is 80% and in second position is 70%. Borrower may have to pay a closing cost recapture fee if the loan is closed within the first 36 months of the originiation date. Property insurance required. Flood insurance may be required. Home Equity Loans do not qualify for Advantage Pricing. Based on a $25,000 loan with a 4.25% APR for 60 months, monthly payments will be $463.Go to main navigation