make-a-splash

You’ve invested so much into your home, so why not have your home pay you back?  Hudson River Financial offers two products to help members use the equity in their home to save when they borrow for home improvements, major purchases, and more!

Home Equity Line of Credit

  • Convenient Line of Credit Structure
  • Draw funds using the equity in your home for five years
  • Borrow up to 75% of your home’s value
  • Ten Year Repayment Period
  • Competitive Rates: Currently as low as 3.99% APR* first 12 months, Prime for Life Thereafter

Home Equity Loans

  • Simple Loan Structure
  • Fixed Rate Option with 10-year term
  • Variable Rate Option with term up to 20 years
  • Borrow up to 75% of your home’s value
  • Competitive Rates and Simple Process

Home Equity Rates

*APR = Annual Percentage Rate. All rates subject to change without notice and are for qualified borrowers. Complete loan details are available at the credit union.

Info and/or TermsAPR*
Home Equity Line of Credit**
4.0% Floor
5 Year draw period with repayment followed by a 10 year repayment period
as low as3.99%
10 Year Fixed Term
Minimum Loan Amount $10,000
as low as5.75%
Variable
4.0% Floor
2.0% Margin Over 1 Year Treasury (20 Year Amortization) 1 Year Reset
Minimum Loan Amount $10,000
as low as4.00%
**3.99% for first 12 months, Prime Rate thereafter.  Home Equity Line of Credit APR is calculated based on the highest Prime Rate published in the Wall Street Journal (the "Index") as of the more recent calendar date of January 1st or July 1st in the current calendar year, plus a margin of 0.00%.  75% loan to value maximum and a minimum line amount of $10,000. In order to qualify for the 3.99% introductory rate, applicant must have a median credit score of 710 or higher.  For the first 12 months of the plan, the periodic rate will be fixed at an interest rate of 3.99% at the time of closing.  To determine the periodic rate that will apply to the plan after the first 12 months, we will subtract a margin of 0.000% from the value of the index.   The APR will never increase by more than 2% during a physical year, and after the first 12 months of this plan, under no circumstances will your APR go below 4.00% during the remaining term of the plan.   All loans are subject to credit approval.  Rate, terms and conditions are subject to change without notice and may vary based on creditworthiness, qualifications, and collateral conditions. Not all applicants will qualify. Loan-to-value restrictions apply.  Listed rates are terms are accurate as of January 14th, 2019 and are subject to change without notice.

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