Home Loans

With our Home Equity Loan and Line of Credit programs we can help you consolidate your debt, renovate your home, pay for college tuition and more. Our promise is to do it quickly and provide you with as much as you need. Tapping into all the equity of your home is now possible with Saratoga’s Credit Union.

 

Apply in minutes and access the extra equity in your home.

Apply Today

Loan Options Benefits Details

Home Equity Loan

Fixed rate loan available to access the equity in your home.  Rates and payments stay consistent to keep you on track.

Apply

Pre-Payment Penalty:  
None

Closing Costs:  
Paid by Borrower

Same Rate for All Credit Scores
Fastest Turnaround in Town
Up to 80% Loan to Value (CLTV)
Borrow Up to $250,000
No Pre-Payment Penalty
No Application Fee
No Annual Fee
Thanku Discounts

Interest Rate:
Fixed

Term:
Up to 15 Years

Loan Limit Amount:
Up to $250,000

Maximum Loan to Value (CLTV):
80%

Rates
High Loan-to-Value Home Equity Program

Apply

 Pre-Payment Penalty: 
None

Closing Costs: 
Paid by Borrower

Same Rate for All Credit Scores
Fastest Turnaround in Town
Up to 100% Loan to Value (CLTV)
Borrow Up to $250,000
No Pre-Payment Penalty
No Application Fee
No Annual Fee
Thanku Discounts		 Interest Rate:
Fixed

Term:
Up to 20 Years

Loan Limit Amount:
Up to $250,000

Maximum Loan to Value (CLTV):
100%

Rates

Home Equity Line of Credit

A line of credit gives you flexible borrowing power to use what you need when you need it.  Access easily on your time through your checking account and only pay interest on the amount you use.

Apply

Advance Requirement:
No Advance Required at Closing

Pre-Payment Penalty:
None

Closing Costs:
Paid by Borrower

Same Rate for All Credit Scores
Fastest Turnaround in Town
Up to 80% Loan to Value (CLTV)
Borrow Up to $250,000
No Pre-Payment Penalty
No Application Fee
No Annual Fee
Thanku Discounts

Interest Rate:
Variable

Term:
Up to 20 Years

Draw Period:
10 Years (included in repayment term)

Loan Limit Amount:
Up to $250,000

Maximum Loan to Value (CLTV):
80%

Rates

High Loan-to-Value Home Equity Line of Credit Program

Apply

 Advance Requirement:
No Advance Required at Closing


Pre-Payment Penalty:
None

Closing Costs:
Paid by Borrower


Same Rate for All Credit Scores
Fastest Turnaround in Town
Up to 100% Loan to Value (CLTV)
Borrow Up to $250,000
No Pre-Payment Penalty
No Application Fee
No Annual Fee
Thanku Discounts

 Interest Rate:
Variable


Term:
Up to 20 Years

Draw Period:
10 Years (included in repayment term)


Loan Limit Amount:
Up to $250,000

Maximum Loan to Value (CLTV):
100%

Rates

Home Improvement

A home improvement loan provides fixed terms for members who want to improve or repair their home or property with limited closing costs.

Apply

Pre-Payment Penalty:
None

Closing Costs:
Paid by Borrower

Same Rate for All Credit Scores
Fastest Turnaround in Town
Borrow Up to $15,000
No Pre-Payment Penalty
No Application Fee
No Annual Fee
Thanku Discounts

Interest Rate:
Fixed

Term:
Up to 84 months

Loan Limit Amount:
Up to $15,000

Maximum Loan to Value (CLTV):
N/A

Rates
High Loan-to-Value Home Improvement Program

Apply

 Pre-Payment Penalty:
None

Closing Costs:
Paid by Borrower

Same Rate for All Credit Scores
Fastest Turnaround in Town
Up to 133% Loan to Value (CLTV)
Borrow Up to $250,000
No Pre-Payment Penalty
No Application Fee
No Annual Fee
Thanku Discounts		 Interest Rate:
Fixed


Term:
Up to 20 Years

Loan Limit Amount:
Up to $250,000


Maximum Loan to Value (CLTV):
133%

Rates

Additional Disclosures:
Eligible Properties:  1 to 2 family owner occupied as primary residence only.

Home Equity Loans:  Sample payment per $1,000, based on a 5 year Home Equity Loan at 6.99% APR* is $19.80. 

Home Equity Line of Credit:  This plan has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum payment may change as a result. The annual percentage rate can change monthly and is based on the index plus a margin.  As of 10/01/2024 the Prime Rate was 8.00% APR (Annual Percentage Rate). The rate will be adjusted to the highest Prime Rate as published in the Wall Street Journal on the last day of every month plus the margin. Sample payment per $1,000, based on a 20 year Home Equity Line of Credit at 5.50% APR* is $6.89. 

Geographic Areas:  Only properties located in the following counties will be considered:  Albany, Essex, Fulton, Hamilton, Montgomery, Rensselaer, Saratoga, Schenectady, Warren and Washington.

Any second mortgage lien must be satisfied at or prior to closing and can be paid with loan proceedings.

Resources

What You Should Know About Home Equity Loans

Confused by the lending lingo?  Not sure how borrowing against the equity in your home works?  We have the answers to your questions.

Protect Your Loan

You know that you need home insurance, but how do you get the best deal?  Through our relationship with Liberty Mutual Insurance, we can get you a free, no obligation quote.

Debt Protection

Your credit union wants to ensure that you and your loans are protected.  Protect your family and lessen the burden of making your loan payments should you become unemployed, disabled or lose your life with Debt Protection.