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Home Equity

Home Equity Interest Rates

Rates as of August 09, 2020


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Monthly Fixed-Rate Loans LTV 1st Lien

Monthly Fixed-Rate Loans
Term (Years)80% LTV (1st Lien) Interest RateAPR*90% LTV (1st Lien) Interest RateAPR*
3 to 5 Years3.500%3.500%3.750%3.750%
6 to 10 Years4.000%4.000%4.250%4.250%
11 to 15 Years4.500%4.500%4.750%

4.750%

Monthly Fixed-Rate Loan Payment Examples 80% LTV 1st Lien

Monthly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedMonthly PaymentTotal Loan & Interest (80% LTV 1st Lien)
4$10,000$223.56$10,730.87
8$10,000$121.89$11,701.75
13$10,000$84.79$13,226.50

Monthly Fixed-Rate Loan Payment Examples 90% LTV 1st Lien

Monthly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedMonthly PaymentTotal Loan & Interest (90% LTV 1st Lien)
4$10,000$224.67$10,784.34
8$10,000$123.06$11,813.68
13$10,000$86.04$13,422.40

Monthly Fixed-Rate Loans LTV 2nd Lien

Monthly Fixed-Rate Loans
Term (Years)80% LTV (2nd Lien) Interest RateAPR*90% LTV (2nd Lien) Interest RateAPR*
3 to 5 Years3.875%3.875%4.500%4.500%
6 to 10 Years4.375%4.375%5.000%5.000%
11 to 15 Years4.875%4.875%5.500%5.500%

Monthly Fixed-Rate Loan Payment Examples 80% LTV 2nd Lien

Monthly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedMonthly PaymentTotal Loan & Interest (80% LTV 2nd Lien)
4$10,000$225.23$10,811.11
8$10,000$123.64$11,870.00
13$10,000$86.67$13,521.04

Monthly Fixed-Rate Loan Payment Examples 90% LTV 2nd Lien

Monthly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedMonthly PaymentTotal Loan & Interest (90% LTV 2nd Lien)
4$10,000$228.03$10,945.72
8$10,000$126.60$12,153.50
13$10,000$89.87$14,019.28

 

Bi-weekly Fixed-Rate Loans LTV 1st Lien

Bi-weekly Fixed-Rate Loans
Term (Years)80% LTV (1st Lien) Interest RateAPR*90% LTV (1st Lien) Interest RateAPR*
3 to 5 Years3.250%3.250%3.500%3.500%
6 to 10 Years3.750%3.750%4.000%4.000%
11 to 15 Years4.250%4.250%4.500%4.500%
Bi-weekly Fixed-Rate Loan Payment Examples 80% LTV 1st Lien
Bi-weekly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedBi-Weekly PaymentTotal Loan & Interest
4$10,000$111.22

$10,612.30

8$10,000$60.37$11,429.52
13$10,000$41.77$12,684.40
Bi-weekly Fixed-Rate Loan Payment Examples 90% LTV 1st Lien
Bi-weekly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedBi-Weekly PaymentTotal Loan & Interest
4$10,000$111.78

$10,660.04

8$10,000$60.95$11,527.56
13$10,000$42.39$12,849.07

Bi-weekly Fixed-Rate Loans LTV 2nd Lien

Bi-weekly Fixed-Rate Loans
Term (Years)80% LTV (2nd Lien) Interest RateAPR*90% LTV (2nd Lien) Interest RateAPR*
3 to 5 Years3.625%3.6254.250%4.25
6 to 10 Years4.125%4.1254.750%4.75
11 to 15 Years4.625%4.6255.250%5.25

Bi-weekly Fixed-Rate Loan Payment Examples 80% LTV 2nd Lien

Bi-weekly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedBi-Weekly PaymentTotal Loan & Interest
4$10,000$112.06

$10,683.95

8$10,000$61.24$11,576.70
13$10,000$42.71$12,931.62

Bi-weekly Fixed-Rate Loan Payment Examples 90% LTV 2nd Lien

Bi-weekly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedBi-Weekly PaymentTotal Loan & Interest
4$10,000$113.46

$10,803.80

8$10,000$62.71$11,823.52
13$10,000$44.29$13,346.18

 

Adjustable Rate Line of Credit

 APR*
Flex+4.00%**

*APR = Annual Percentage Rate

**The APR will adjust monthly to the highest Prime rate published in the Wall Street Journal on the last business day of the prior month. The lifetime cap is guaranteed not to exceed 16.0% APR, with a floor of 4.00% APR.

All loans require a collateral mortgage be filed. All loans subject to credit approval. Interest rates subject to change without notice. Automatic Payment required from a Chemung Canal checking account on Bi-weekly Fixed-Rate Loans. APRs listed for Bi-Weekly Fixed-Rate Loans take into account a 0.25% reduction for Automatic Payment.  Payments reflect the principal and interest only.

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