Home Loans

 

PROMOTION EXTENDED - NO CLOSING COSTS*

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.

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

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Loan Options Benefits Details

Home Equity Loan

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

Pre-Payment Penalty:
None

Closing Costs:
Limited Time Promotion
Closing costs not including the New York State Mortgage Tax will be paid by Saratoga’s Credit Union on behalf of the borrower.

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

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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.

Advance Requirement:
No Advance Required at Closing

Pre-Payment Penalty:
None

Closing Costs:
Limited Time Promotion
Closing costs not including the New York State Mortgage Tax will be paid by Saratoga’s Credit Union on behalf of the borrower.

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

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

Pre-Payment Penalty:
None

Closing Costs:
Limited Time Promotion

Closing costs not including the New York State Mortgage Tax will be paid by Saratoga’s Credit Union on behalf of the borrower.

Interest Rate:
Fixed

Term:
Unsecured:  Up to 10 Years
Secured:  Up to 20 Years

Loan Limit Amount:
Up to $250,000

Maximum Loan to Value (CLTV):
133%

Rates

*Closing costs not including the New York State Mortgage Tax will be paid by Saratoga’s Credit Union on behalf of the borrower on Home Equity Loans and Lines of Credit. Credit qualified borrowers.  Credit union may discontinue this promotion at any time.   Promotion expires 12/31/2022.

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 1.99% APR* is $17.53. 

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 11/30/2021 the Prime Rate was 3.25% 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 1.99% APR* is $5.06. 

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.