New York Home Equity Line of Credit Rates

Compare Home Equity Line of Credit rates from lenders in New York with a loan amount of $50,000. To change the mortgage product or the loan amount, use the search box above. Click lender name to view more information.

New York Home Equity Line of Credit

February 24, 2018 Average Rate: 5.57%

Lender Rate (%) Monthly Payment Learn More
3.740
$231.27 Learn More
5.240
$275.79 Learn More
5.500
$283.89 Learn More
Northern CU
Updated 02/24/2018
4.000
$506.23
Berkshire Bank
Updated 02/24/2018
4.000
$506.23
Visions FCU
Updated 02/24/2018
4.250
$512.19
Glens Falls National B&T Co.
Updated 02/24/2018
4.250
$512.19
Hudson Valley FCU
Updated 02/24/2018
4.250
$512.19
Advantage FCU
Updated 02/24/2018
4.250
$512.19
The Summit Federal Credit Union
Updated 02/24/2018
4.350
$514.58
Pentagon FCU
Updated 02/24/2018
4.500
$518.19
Nassau Financial FCU
Updated 02/24/2018
4.500
$518.19
Nassau Financial FCU
Updated 02/24/2018
4.500
$518.19
PenFed
Updated 02/24/2018
4.500
$518.19
Cornerstone Community FCU
Updated 02/24/2018
4.500
$518.19
AmeriCU Credit Union
Updated 02/24/2018
4.500
$518.19
SEFCU
Updated 02/24/2018
4.500
$518.19
Teachers FCU
Updated 02/24/2018
4.500
$518.19
Five Star Bank
Updated 02/24/2018
4.500
$518.19
Tioga State Bank
Updated 02/24/2018
4.500
$518.19
Gouverneur S&L
Updated 02/24/2018
4.500
$518.19
Carthage Federal S&L
Updated 02/24/2018
4.500
$518.19
Watertown Savings Bank
Updated 02/24/2018
4.500
$518.19
Pioneer Bank
Updated 02/21/2018
4.500
$518.19
NEFCU
Updated 02/24/2018
4.500
$518.19
First New York FCU
Updated 02/24/2018
4.500
$518.19
Tompkins Bank of Castile
Updated 02/24/2018
4.500
$518.19
First National Bank of Scotia
Updated 02/24/2018
4.500
$518.19
Sunmark FCU
Updated 02/24/2018
4.500
$518.19
Trustco Bank
Updated 02/21/2018
4.500
$518.19
USAlliance Financial
Updated 02/24/2018
4.500
$518.19
Island Federal Credit Union
Updated 02/24/2018
4.500
$518.19
Peoples Security B&T
Updated 02/24/2018
4.500
$518.19
Chemung Canal Trust Co.
Updated 02/24/2018
4.500
$518.19
First Internet Bank
Updated 02/24/2018
4.750
$524.24
Northwest Bank
Updated 02/24/2018
4.750
$524.24
NBT Bank
Updated 02/24/2018
4.750
$524.24
PNC
Updated 02/24/2018
4.990
$530.08
Key Bank
Updated 02/24/2018
5.000
$530.33
KeyBank
Updated 02/24/2018
5.000
$530.33
Canandaigua National B&T
Updated 02/24/2018
5.000
$530.33
Lyons National Bank
Updated 02/24/2018
5.000
$530.33
Lyons National Bank
Updated 02/24/2018
5.000
$530.33
Navy FCU
Updated 02/24/2018
5.250
$536.46
Capwest Mortgage Corp.
Updated 02/24/2018
5.250
$536.46
KeyBank
Updated 02/24/2018
5.250
$536.46
TD Bank
Updated 02/24/2018
5.490
$542.38
ESL FCU
Updated 02/24/2018
5.500
$542.63
Capital Communications FCU
Updated 02/24/2018
5.500
$542.63
Bethpage FCU
Updated 02/24/2018
5.500
$542.63
Banco Popular
Updated 02/24/2018
5.650
$546.36
Webster Bank
Updated 02/24/2018
5.740
$548.6
People's United Bank
Updated 02/24/2018
5.740
$548.6
M&T Bank
Updated 02/24/2018
5.840
$551.09
M&T Bank - NYC
Updated 02/24/2018
5.840
$551.09
Santander Bank
Updated 02/24/2018
6.000
$555.1
Community Bank N.A.
Updated 02/24/2018
6.000
$555.1
HSBC
Updated 02/24/2018
6.090
$557.36
Wells Fargo
Updated 02/24/2018
6.250
$561.4
State Farm Bank
Updated 02/24/2018
6.350
$563.93
Chase
Updated 02/24/2018
6.380
$564.69
Bank of America
Updated 02/24/2018
7.100
$583.12

Data from above provided by Informa Research Services, Inc.

NBT Bank, National Association
Updated 05/04/2017
0.25 Varies
NASSAU EDUCATORS
Updated 11/01/2017
Restrictions
0.99 Varies
U.S. Bank National Association
Updated 03/16/2017
1.99 Varies
TrustCo Bank
Updated 02/05/2018
2.49 Varies
UNITED NATIONS
Updated 09/21/2017
Restrictions
2.49 Varies
Pioneer Savings Bank
Updated 05/15/2017
2.50 Varies
TEACHERS
Updated 09/22/2017
Restrictions
2.74 Varies
The Adirondack Trust Company
Updated 02/05/2018
2.75 Varies
Glens Falls National Bank and Trust Company
Updated 06/28/2017
2.99 Varies
Watertown Savings Bank
Updated 05/04/2017
2.99 Varies
Saratoga National Bank and Trust
Updated 07/21/2017
2.99 Varies
BETHPAGE
Updated 09/22/2017
Restrictions
2.99 Varies
TD Bank, National Association
Updated 01/05/2018
3.99 Varies
Santander Bank, N.A.
Updated 01/05/2018
3.99 Varies
Chemung Canal Trust Company
Updated 05/04/2017
4.00 Varies
Citizens & Northern Bank
Updated 05/17/2017
4.00 Varies
Solvay Bank
Updated 05/04/2017
4.00 Varies
Ulster Savings Bank
Updated 05/04/2017
4.00 Varies
Rhinebeck Bank
Updated 06/28/2017
4.00 Varies
Northfield Bank
Updated 08/14/2017
4.00 Varies

Data provided by BestCashCow

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.

Rates provided by BestCashCow are based on loan amount of $50,000 and a variety of factors including credit score and loan to value ratios. For specific requirements please check with the lender. Rates may change at any time.

Home Equity Line of Credit - Rates are based on a variable rate, second lien revolving home equity line of credit New York for an owner occupied residence with an 80% loan-to-value ratio for line amounts of $50,000. Discount indicates the amount of reduction in the Rate for having monthly payments automatically deducted from an account and/or for having other relationship accounts with the institution, expressed as a percentage. Conditions ‘No closing costs’ indicates that customer is not required to pay closing costs on the line of credit. ‘With closing costs’ indicates that customer is required to pay closing costs on the line of credit. Rates may include discounts. Rates are subject to change without notice.

Home Equity Line of Credit (HELOC) Rates

Home equity lines of credit (HELOCs) are loans secured against the equity in your home, They are typically less costly and more flexible than home equity loans.  Since they are lines of credit, the borrower only draws the amount that they need and only pays interest on that amount. The amortization schedule ordinarily does not require payback of the principal drawn until year 10 (HELOCs are, therefore, technically “interest only” loans until that time).

HELOC lenders will lend up to 90% the value of the equity in your home and the typical HELOC line is from $200,000 up to $500,000.

How to Find the Best HELOC Rate

As you see in the table above, the pricing of a home equity line of credit varies from lender to lender.  HELOC rates are based on the prime lending rate (“prime”) - the rate that commercial banks charge their most creditworthy customers.  Most lenders add on a margin above the prime rate. The average HELOC rate is 5.57%.

Risk to HELOCs

HELOC rates fluctuate. Repayment terms are tied to the prime lending rate and that rate is likely to move up – perhaps dramatically - over the next few years as the Federal Reserve raises the Fed Funds rate. A 10-year home equity loan or a 15-year home equity loan, however, may be a safer option at this time. Depending on your personal circumstances, you should also consider mortgage refinance options.

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