Own your own home and need some funds? A Home Equity may be the perfect route for you to take! Whether you choose a Home Equity Loan or a Home Equity Line of Credit, they are perfect for covering the costs of:
- Home Improvements
- College Tuition
- Consolidating Debt
- Unforeseen Expenses
- SO much more!
What’s the difference between a Home Equity line of Credit and a Home Equity? See below to find out!
Need help figuring out how much you can afford? Check our NBC’s interactive calculators1 to help you properly plan ahead!
Listing of Mortgage Loan Originators (NMLS) - National Bank of Coxsackie
Home Equity Lines of Credit
Home Equity Line of Credit’s are similar to a credit card. You are approved for a certain dollar amount over a specified term. While within the defined term you can borrow money from your line, pay the balance back down, and use it again! This is the perfect solution for someone who needs flexibility while completing their project or endeavor!
The benefits of getting your Home Equity Line of Credit through NBC are:
- A PRIME ONLY rate of 7.50% APR2
- 10-year draw period
- NO floor!
- NO annual fees!
Apply Now or Contact Us today to get started!
1 Information and interactive calculators are made available to you as self-help tools for your independent use. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. 2 APR = Annual Percentage Rate. APR is variable and based on the Wall Street Journal Prime rate + 0% APR. Prime rate is 7.50% as of 2/1/2025. Interest and payments may be adjusted on the first of the month based on the prime rate on the 10th day of the preceding month. 24% lifetime cap. A 10-year draw period with principal and interest or interest only payment options. After 10-year draw period, loan has a 15 year principal and interest repayment period, regardless of payment type during draw period. Minimum $200 draw. Rates for Home Equity Variable Rate Line of Credit are based on first lien position with a maximum combined loan-to-value (CLTV) of 80%. The appraised value multiplied by 80%, less the remaining balance on any existing mortgage. For first lien position, property must be unencumbered or first mortgage must be with NBC. Second lien position with a maximum CLTV of 75%. The appraised value multiplied by 75%, less the remaining balance of any existing mortgage. Customer to pay mortgage tax and appraisal fees which are approximately $500 - $850, but actual fees will vary depending on location and other factors. No membership or participation fees. Property insurance is required. Title insurance may be required and to be paid by the borrower. Products, services, terms and conditions are subject to change without notice. All rates are subject to change at any time. All loans are subject to creditworthiness. NMLS Company ID # 816880.
Home Equity Loans
A Home Equity Loan is perfect for those borrowers who want a fixed, monthly payment that they can anticipate and budget for! Instead of the Home Equity Line of Credit where you can re-use the funds within the time frame, this is a one-time, lump sum loan.
Check out our competitive Home Equity Loan Rates below!
NBC Home Equity Loan Rates
| Term | 1st Position APR2 | 2nd Position APR2 |
|---|---|---|
1-60 months special* |
5.750% |
6.500% |
61-120 months |
6.490% |
7.490% |
121-180 months |
6.600% |
7.650% |
Apply Now
Contact Us today to get started!
1 Information and interactive calculators are made available to you as self-help tools for your independent use. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information 2 APR = Annual Percentage Rate. Rates for Home Equity loans based on first lien position have a maximum combined loan-to-value (CLTV) of 80%. The appraised value multiplied by 80%, less the remaining balance on any existing mortgage. For first lien position, property must be unencumbered or first mortgage must be with NBC. Second lien position with a maximum LTV of 75%. The appraised value multiplied by 75%, less the remaining balance of any existing mortgage. Closing costs paid by NBC on behalf of the borrower except for mortgage tax and appraisal, if required, which are approximately $500 - $850, but actual fees will vary depending on location and other factors. No membership or participation fees. Property insurance is required. Title insurance may be required and to be paid by the borrower. Products, services, terms and conditions are subject to change without notice. All rates are subject to change at any time. All loans are subject to creditworthiness. NMLS Company ID # 816880.
