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Home Equity Interest Rates
Rates as of April 16, 2013
Monthly Fixed-Rate Loans
| Term (Years) | Interest Rate |
| 3 to 5 Years | 3.875% |
| 6 to 10 Years | 4.000% |
| 11 to 15 Years | 4.125% |
Monthly Fixed-Rate Loan Payment Examples:
| Term (Years) | Amount Borrowed | Monthly Payment | Total Loan & Interest | APR* |
| 4 | $10,000 | $225.23 | $10,811.04 | 3.875% |
| 8 | $10,000 | $121.89 | $11,701.44 | 3.999% |
| 13 | $10,000 | $82.93 | $12,937.08 | 4.126% |
Bi-weekly Fixed-Rate Loans
| Term (Years) | Interest Rate |
| 3 to 5 Years | 3.625% |
| 6 to 10 Years | 3.750% |
| 11 to 15 Years | 3.875% |
Automatic Payment is required on Bi-weekly Fixed-Rate Loans. APRs listed above take into account the .25% reduction for Automatic Payment.
Bi-weekly Fixed-Rate Loan Payment Examples:
| Term (Years) | Amount Borrowed | Bi-Weekly Payment | Total Loan & Interest | APR* |
| 4 | $10,000 | $112.46 | $10,683.70 | 3.624% |
| 8 | $10,000 | $60.49 | $11,432.61 | 3.752% |
| 13 | $10,000 | $41.47 | $12,399.53 | 3.874% |
Adjustable Rate Line of Credit :
| APR* | |
| Flex+ | 4.00%** |
All loans require a collateral mortgage be filed.
All loans subject to credit approval.
Interest rates subject to change without notice.
Interest rates will be discounted .25% for autopay from a checking account at Chemung Canal Trust Company. Automatic payment required for bi-weekly loan.
The lifetime cap is guaranteed not to exceed 16.0% APR, with a floor of 4.00% APR.
*APR = Annual Percentage Rate
**The Annual Percentage Rate will adjust monthly to the highest Prime rate published in the Wall Street Journal on the last business day of the prior month.
Homeowners hazard insurance required on all properties and flood insurance required on all properties in flood zones. This offer may be withdrawn at anytime, without notice.
For more information, please call us at (607) 737-3793 or toll-free at (800) 836-3711 and ask to speak with a Home Equity Specialist. Or apply online.
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