Flex+ Revolving Line of Credit

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When you choose our Flex+ home equity line of credit, you may be able to borrow up to 80% of the market value of your home, less any outstanding mortgage. For example, if your home’s market value is $70,000 and you currently owe $25,000 on your mortgage, you may qualify for a $31,000 home equity line of credit.

During the draw period, you may transfer all, or a portion of, the outstanding balance of the base account to a fixed-interest-rate loan for a fee. The interest rate for the fixed-interest-rate loan will be the interest rate in effect at that time for a fixed-interest-rate loan. As an added convenience, you may also select the term.

Take advantage of this program and you will get the following features:

  • Flexibility of an open line of credit with affordable monthly payments
  • The minimum loan amount is $10,000
  • Variable annual interest rate for the line of credit: The highest Prime rate as published in the Wall Street Journal on the last business day of the month. Interest rate is based on Prime + 0% for the life of the loan (interest rate may change on a monthly basis)
  • When the outstanding balance is transferred to a fixed-interest-rate loan, for a fee, the interest rate will be the interest rate in effect at that time for fixed-interest-rate loans
  • 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. Or apply online.

Homeowners hazard insurance required on all properties, and flood insurance is required on properties in flood zones.