Home Equity
Home Equity Interest Rates
Rates as of January 22, 2025
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Monthly Fixed-Rate Loans LTV 1st Lien
| Term (Years) | 80% LTV (1st Lien) Interest Rate | APR* | 90% LTV (1st Lien) Interest Rate | APR* |
|---|---|---|---|---|
| 3 to 5 Years | 5.875% | 5.875% | 6.125% | 6.125% |
| 6 to 10 Years | 6.125% | 6.125% | 6.250% | 6.250% |
| 11 to 15 Years | 6.625% | 6.625% | 6.875% | 6.875% |
Monthly Fixed-Rate Loan Payment Examples 80% LTV 1st Lien
| Term (Years) | Amount Borrowed | Monthly Payment | Total Loan & Interest (80% LTV 1st Lien) |
|---|---|---|---|
| 4 | $10,000 | $234.28 | $11,245.30 |
| 8 | $10,000 | $132.02 | $12,674.38 |
| 13 | $10,000 | $95.79 | $14,942.41 |
Monthly Fixed-Rate Loan Payment Examples 90% LTV 1st Lien
| Term (Years) | Amount Borrowed | Monthly Payment | Total Loan & Interest (90% LTV 1st Lien) |
|---|---|---|---|
| 4 | $10,000 | $235.42 | $11,300.40 |
| 8 | $10,000 | $132.63 | $12,733.07 |
| 13 | $10,000 | $97.13 | $15,152.62 |
Monthly Fixed-Rate Loans CLTV 2nd Lien
| Term (Years) | 80% CLTV (2nd Lien) Interest Rate | APR* | 90% CLTV (2nd Lien) Interest Rate | APR* |
|---|---|---|---|---|
| 3 to 5 Years | 6.250% | 6.250% | 6.750% | 6.750% |
| 6 to 10 Years | 6.500% | 6.500% | 6.875% | 6.875% |
| 11 to 15 Years | 7.000% | 7.000% | 7.625% | 7.625% |
Monthly Fixed-Rate Loan Payment Examples 80% CLTV 2nd Lien
| Term (Years) | Amount Borrowed | Monthly Payment | Total Loan & Interest (80% CLTV 2nd Lien) |
|---|---|---|---|
| 4 | $10,000 | $236.00 | $11,327.89 |
| 8 | $10,000 | $133.86 | $12,850.82 |
| 13 | $10,000 | $97.81 | $15,257.55 |
Monthly Fixed-Rate Loan Payment Examples 90% CLTV 2nd Lien
| Term (Years) | Amount Borrowed | Monthly Payment | Total Loan & Interest (90% CLTV 2nd Lien) |
|---|---|---|---|
| 4 | $10,000 | $238.30 | $11,438.66 |
| 8 | $10,000 | $135.72 | $13,028.61 |
| 13 | $10,000 | $101.23 | $15,790.71 |
Bi-weekly Fixed-Rate Loans LTV 1st Lien
| Term (Years) | 80% LTV (1st Lien) Interest Rate | APR* | 90% LTV (1st Lien) Interest Rate | APR* |
|---|---|---|---|---|
| 3 to 5 Years | 5.625% | 5.625% | 5.875% | 5.875% |
| 6 to 10 Years | 5.875% | 5.875% | 6.000% | 6.000% |
| 11 to 15 Years | 6.375% | 6.375% | 6.625% | 6.625% |
Bi-weekly Fixed-Rate Loan Payment Examples 80% LTV 1st Lien
| Term (Years) | Amount Borrowed | Bi-Weekly Payment | Total Loan & Interest |
|---|---|---|---|
| 4 | $10,000 | $116.57 | $11,073.56 |
| 8 | $10,000 | $65.40 | $12,282.48 |
| 13 | $10,000 | $47.23 | $14,121.51 |
Bi-weekly Fixed-Rate Loan Payment Examples 90% LTV 1st Lien
| Term (Years) | Amount Borrowed | Bi-Weekly Payment | Total Loan & Interest |
|---|---|---|---|
| 4 | $10,000 | $117.14 | $11,122.34 |
| 8 | $10,000 | $65.71 | $12,332.95 |
| 13 | $10,000 | $47.89 | $14,290.88 |
Bi-weekly Fixed-Rate Loans CLTV 2nd Lien
| Term (Years) | 80% CLTV (2nd Lien) Interest Rate | APR* | 90% CLTV (2nd Lien) Interest Rate | APR* |
|---|---|---|---|---|
| 3 to 5 Years | 6.000% | 6.000% | 6.500% | 6.500% |
| 6 to 10 Years | 6.250% | 6.250% | 6.625% | 6.625% |
| 11 to 15 Years | 6.750% | 6.750% | 7.375% | 7.375% |
Bi-weekly Fixed-Rate Loan Payment Examples 80% CLTV 2nd Lien
| Term (Years) | Amount Borrowed | Bi-Weekly Payment | Total Loan & Interest |
|---|---|---|---|
| 4 | $10,000 | $117.43 | $11,146.76 |
| 8 | $10,000 | $66.32 | $12,434.06 |
| 13 | $10,000 | $48.23 | $14,375.64 |
Bi-weekly Fixed-Rate Loan Payment Examples 90% CLTV 2nd Lien
| Term (Years) | Amount Borrowed | Bi-Weekly Payment | Total Loan & Interest |
|---|---|---|---|
| 4 | $10,000 | $118.57 | $11,244.65 |
| 8 | $10,000 | $67.24 | $12,586.18 |
| 13 | $10,000 | $49.93 | $14,800.19 |
Adjustable Rate Line of Credit
| APR* | |
|---|---|
| Flex+ | 7.50%** |
*APR = Annual Percentage Rate
**The Daily Periodic Rate and its corresponding Annual Percentage Rate may change (increase or decrease) the day the Index changes. The lifetime cap is guaranteed not to exceed 16.0% APR, with a floor of 4.00% APR.
All loans require a collateral mortgage be filed. All loans subject to credit approval. Interest rates subject to change without notice. Automatic Payment required from a Chemung Canal checking account on Bi-weekly Fixed-Rate Loans. APRs listed for Bi-Weekly Fixed-Rate Loans take into account a 0.25% reduction for Automatic Payment. Payments reflect the principal and interest only.
Homeowners hazard insurance required on all properties and flood insurance required on all properties in flood zones. For more information, please call us at (607) 737-3793 or toll-free at (800) 836-3711 and ask to speak with a Home Equity Specialist.