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

December 13, 2018 Average Rate: 6.47%

Lender Rate (%) Monthly Payment Learn More
5.49 %
$ Learn More
More Info
4.24 %
$ Learn More
More Info
M&T Bank
Updated 2018-12-13
6.89 %
$
NBT Bank
Updated 2018-12-13
5.75 %
$
Pioneer Bank
Updated 2018-12-13
5.25 %
$
Gouverneur S&L
Updated 2018-12-13
5.25 %
$
Navy FCU
Updated 2018-12-13
6 %
$
Carthage Federal S&L
Updated 2018-12-13
5.25 %
$
Five Star Bank
Updated 2018-12-13
5.25 %
$
Popular Community Bank
Updated 2018-12-13
6.75 %
$
Chase
Updated 2018-12-13
6.88 %
$
SeaComm FCU
Updated 2018-12-13
5.25 %
$
USAlliance Financial
Updated 2018-12-13
5.25 %
$
Cornerstone Community FCU
Updated 2018-12-13
5 %
$
Tioga State Bank
Updated 2018-12-13
5.25 %
$
Teachers FCU
Updated 2018-12-13
5.25 %
$
Sunmark FCU
Updated 2018-12-13
5.25 %
$
Chemung Canal Trust Co.
Updated 2018-12-13
5.25 %
$
SEFCU
Updated 2018-12-13
4.75 %
$
First New York FCU
Updated 2018-12-13
5.25 %
$
Hudson Valley FCU
Updated 2018-12-13
5.25 %
$
Trustco Bank
Updated 2018-12-13
5.375 %
$
Community Bank N.A.
Updated 2018-12-13
5.25 %
$
KeyBank - Syracuse
Updated 2018-12-13
5.9 %
$
Northern CU
Updated 2018-12-13
5 %
$
People's United Bank
Updated 2018-12-13
6.25 %
$
Santander Bank
Updated 2018-12-13
6.75 %
$
Peoples Security B&T
Updated 2018-12-13
5.25 %
$
Northwest Bank
Updated 2018-12-13
5.5 %
$
HSBC
Updated 2018-12-13
6.5 %
$
Watertown Savings Bank
Updated 2018-12-13
5.25 %
$
Capital Communications FCU
Updated 2018-12-13
6.25 %
$
State Farm Bank
Updated 2018-12-13
7.75 %
$
Berkshire Bank
Updated 2018-12-13
4.75 %
$
Webster Bank
Updated 2018-12-13
5.99 %
$
Bank of America
Updated 2018-12-13
7.57 %
$
First National Bank of Scotia
Updated 2018-12-13
5.25 %
$
ESL FCU
Updated 2018-12-13
6.25 %
$
Canandaigua National B&T
Updated 2018-12-13
5.75 %
$
Washington Trust Bank
Updated 2018-12-13
5.75 %
$
Visions FCU
Updated 2018-12-13
5 %
$
Glens Falls National B&T Co.
Updated 2018-12-13
5 %
$
Advantage FCU
Updated 2018-12-13
5 %
$

Data from above provided by Informa Research Services, Inc.

ATLANTA POSTAL
Updated 08/12/2018
Restrictions
4.00 Varies
Alliant
Updated 08/12/2018
Restrictions
4.25 Varies
Santander Bank, N.A.
Updated 11/06/2018
4.50 Varies
Wells Fargo Bank, National Association
Updated 11/08/2018
4.75 Varies
Ballston Spa National Bank
Updated 11/15/2018
4.75 Varies
Northfield Bank
Updated 11/01/2018
4.75 Varies
AFFINITY
Updated 11/14/2018
Restrictions
4.75 Varies
HUDSON VALLEY
Updated 08/10/2018
Restrictions
4.75 Varies
DIGITAL
Updated 11/12/2018
Restrictions
4.75 Varies
U.S. Bank National Association
Updated 08/20/2018
4.99 Varies
TD Bank, National Association
Updated 11/06/2018
4.99 Varies
Chemung Canal Trust Company
Updated 08/08/2018
5.00 Varies
Glens Falls National Bank and Trust Company
Updated 11/14/2018
5.00 Varies
Solvay Bank
Updated 08/08/2018
5.00 Varies
Ulster Savings Bank
Updated 08/08/2018
5.00 Varies
Rhinebeck Bank
Updated 11/14/2018
5.00 Varies
Saratoga National Bank and Trust
Updated 11/14/2018
5.00 Varies
Adirondack Bank
Updated 08/08/2018
5.00 Varies
VISIONS
Updated 11/14/2018
Restrictions
5.00 Varies
ESL
Updated 08/10/2018
Restrictions
5.00 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 6.47%.

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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