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Open End Home Equity Loans

ZERO closing costs.

Home Equity

Looking for cash to remodel, pay off high-interest debt, college tuition or other large expenses? CAP COM offers Open End Home Equity Loans (often referred to as Home Equity Lines of Credit, or HELOCs) with 5- to 20-year terms at both fixed and variable interest rates. You can borrow up to 100% of the appraised value of your home.

 

The Annual Percentage Rate (APR) shall be set at the time of funding and may be as high as the current Prime Rate plus 3%. No closing costs on home equity lines of credits (HELOCs) up to $250,000. Discharge fees and overnight shipping charges are excluded where applicable. If the HELOC is paid and closed within 3 years of the closing date there is a recapture fee in which you will have to reimburse the Credit Union for all closing costs paid on your behalf. Estimated recapture fee examples include $457 in closing costs and a maximum average of $2,475 in New York state mortgage tax for Albany, Schenectady, and Rensselaer counties. Actual closing costs and mortgage tax may be different.
Mortgages in New York State only. All Lines of Credit require a minimum initial advance of $5,000 and a minimum limit of $10,000. Sample payment for a 15-year fixed loan at 4.00% is $7.40 per $1,000. Other rates are available and subject to change without notice.
CAP COM FCU NMLS Identifier: 401261.