SCFCU offers a Home Equity Fixed Rate Loan that lets you unlock the equity in your home for a number of great reasons, like purchasing that new auto or RV, or just taking that long awaited vacation.

Eligible Properties: 1 - 2 family owner occupied as primary residence only

Geographic Areas: Only properties located in the following counties will be considered:
1. Albany  2. Fulton  3. Montgomery  4. Rensselaer 5. Saratoga
6. Schenectady  7. Warren   8. Washington

Loan Amounts Standard: Minimum - $10,000.00 Maximum - $150,000.00

Loan Amounts High LTV: Minimum - $10,000.00 Maximum - $25,000.00

Maximum (LTV) Loan to Value: First mortgage balance plus proposed home equity loan

(Standard Program) cannot exceed 80% of appraised value.

(High LTV Program): First mortgage balance plus proposed home equity loan cannot exceed 100% of appraised value.

Loan Terms: 5 Year, 10 Year, 15 Year

Current Rates: (Click Here)

Preferred Rate Option: You may be entitled to initially receive an additional (.25%) discount if the credit union is in the first lien holder's position. This discount would be added back to the loan if we are asked to subordinate our lien holder's position.

Prepayment Penalty: None

Any second mortgage lien must be satisfied at or prior to closing and can be paid with loan proceeds.

Closing Costs: Saratoga's Community Federal Credit Union will pay all closing costs, on your behalf except NY State Mortgage Tax. The calculation is .75% of the line of credit limit established.

* It is important to note that this is not a line of credit.