Home Equity
Many homeowners have a substantial amount of equity accumulated in their home. Equity is the difference between the present value of your home and the amount you owe, if any, on a mortgage. Our team can give you an opportunity to use the valuable equity you have accumulated. There are several other reasons to consider a home equity line or loan.
- It's convenient.
- The interest on home equity loans in Auburn, NY may be tax deductible. Contact a tax advisor regarding the deductibility of interest.
- There are no closing costs as long as you maintain the account for at least three years.
- Repayment options offer flexibility.
Applying for home equity loans in Binghamton, NY and surrounding areas is the ideal option for people looking for quick and easy loans. By using your home's equity as collateral, you won't need to worry about getting approved by the banks to secure the money you need. At Chemung Canal Trust Company, our aim is to help you find the loan that is right for you. When you're ready to get started, be sure to contact our team or apply online today.
Learn more about our home equity programs and which one is best for you!
- Flex+ Revolving Line of Credit
- Fixed-Rate Home Equity Loans (monthly payment)
- Bi-Weekly Fixed-Rate Home Equity Loans (bi-weekly payment)
- Interest-Only Revolving Line of Credit
- View our interest rates
Homeowners hazard insurance is required on all properties, and flood insurance is required on properties in flood zones. For more information, please call us at (607) 737-3815 or toll-free at (800) 836-3711 and ask to speak with a Home Equity Specialist.
All loans require a collateral mortgage be filed. All loans subject to credit approval. Closing costs vary depending on many factors, including loan amount, interest rate, term, and many others. Please contact us at the numbers above for more details.