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Home Equity Options

Make your home work for you with either an Empower Home Equity Loan or Home Equity Line of Credit. When you borrow against the value of your home, you can opt to receive funds in a lump sum or draw on funds as needed with a Home Equity Line of Credit. Whether you choose to remodel your home, finance an education, fund an enjoyable getaway, or any other purpose - our Home Equity products are here to help you achieve your goals.

You can apply for a loan by logging in to online banking, or click the links below.

 

Check the status of an exisiting loan application. 

Home Equity Loans

  • Use to finance any major expense or purchase
  • Competitive rates
  • No closing costs*
  • Choose Payroll Deduction for automatic payments
  • Restrictions may apply

*APR = Annual Percentage Rate. Annual Percentage Rate may vary. Subject to membership eligibility and creditworthiness. Consult a tax advisor regarding the deductibility of interest. Property Insurance is required. Home Equity Loan must remain open for at least 36 months or the member may be obligated to pay back any and all closing costs.

Home Equity Line of Credit

For all the time you've spent improving your home, you may be able to leverage its value to finance other costs in your life using Empower's Home Equity Line of Credit. Draw on this HELOC whenever necessary and make monthly payments on the balance. Our HELOC rates are among the most competitive in New York, and Empower's Loan Officers are ready to serve you.
  • Use to finance home renovations, college expenses and any other big-ticket items, or open a HELOC for unexpected expenses that might arise
  • No closing costs†
  • Choose between a traditional HELOC and an interest-only HELOC, both with competitive APRs (Additional rates, terms and disclosures available on the Consumer Loans Tab).*
  • Low-cost disability and credit life insurance are available

†APR = Annual Percentage Rate. Annual Percentage Rate may vary. Maximum APR that may be imposed in a variable-rate plan = 17.99%. Subject to membership eligibility and creditworthiness. Consult a tax advisor regarding the deductibility of interest. Property Insurance is required. Home Equity Line of Credit must remain open for at least 36 months or the member may be obligated to pay back any and all closing costs.

All loans subject to approval. Rates, terms, and conditions subject to change. 
NMLS #412348

What do you want out of life?

Empower Federal Credit Union welcomes employees of many companies, immediate family/household members of employees and retirees, as well as our outreach to underserved communities to enjoy personal and business banking solutions including auto loans, mortgages*, credit cards and more. Bank online, in any central NY branch, or call us at 315.477.2200.

* Home mortgages available in FL, PA, CT, NY, NC, SC and TN.

Empower Federal Credit Union rated 5-Stars by Bauer in 2023  Best Companies to work for New York 2023 Logo2023 Winner of Best Companies to Work for in New York State