- Minimum loan amount: $10,000
- Maximum loan amount: $500,000
- Monthly payment is lower for first ten years because you’re paying interest only
- Refinance a higher-payment HELOC from another financial institution with us
- Tax deductions available (consult your tax advisor)
- No closing costs
- Loan term of 25 years - interest-only payment required during the initial draw period of 10 years; then 15-year repayment term
*APR: ANNUAL PERCENTAGE RATE. ALL RATES AND TERMS ARE SUBJECT TO CHANGE WITHOUT NOTICE. TERM: 180 MONTHS. DAILY PERIODIC RATE IS 0.0075%. HELOC MAX $500,000 (UP TO 80% OF HOME VALUE, RATE SHOWN FOR 80% MAX. LTV). LINES UP TO $100,000 REQUIRE $10,000 MIN. ADVANCE & MUST MAINTAIN A BALANCE OF $5,000 FOR 36 MONTHS TO AVOID REPAYMENT OF CLOSING COSTS. LINES $100,001 - $250,000: $60,000 ADVANCE & MAINTAIN A BALANCE OF $50,000 FOR 36 MOS. TO AVOID REPAYMENT OF CLOSING COSTS. LINES $250,001 - $500,000: $150,000 ADVANCE & MAINTAIN A BALANCE OF $100,000 FOR 36 MOS. TO AVOID REPAYMENT OF CLOSING COSTS. VARIABLE RATE EQUAL TO THE WALL STREET JOURNAL PRIME RATE AS PUBLISHED 30 DAYS PRIOR TO INTEREST RATE ADJUSTMENT DATE, APPLIED AT LOAN ORIGINATION. AFTER 12 MONTH PERIOD, A 1% MAXIMUM RATE ADJUSTMENT IS ALLOWED PER QUARTER. RATE WILL NOT EXCEED 18% OVER THE LIFE OF THE LOAN. APPRAISAL WILL BE REQUIRED. PRIMARY RESIDENCE – NEW YORK ONLY. ASK FOR DETAILS. MEMBERSHIP CONDITIONS MAY APPLY.