Bi-weekly Fixed Interest Rate Home Equity
A Bi-weekly, fixed-rate home equity loan can save you a considerable amount of money over a conventional fixed-rate home equity loan. The theory is simple:
- You pay one-half of your home equity payment every two weeks instead of making a full payment each month.
- This means that you make 26 Bi-weekly payments each year, rather than 12 monthly payments.
- You will pay less interest over the life of the loan because the loan is repaid sooner than with a conventional fixed-rate home equity loan.
- Click here for Bi-weekly fixed-rate home equity loan interest rates.
- The minimum loan amount is $10,000.
- To qualify for the bi-weekly payment option, you must have automatic payment of this loan from a Chemung Canal Trust Company savings or checking account.
- The interest on a home equity line or loan may be tax deductible. Contact a tax advisor regarding the deductibility of interest
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.
Homeowners hazard insurance required on all properties, and flood insurance is required on properties in flood zones.