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Home Equity

Home Equity Interest Rates

Rates as of December 07, 2019

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Monthly Fixed-Rate Loans

Monthly Fixed-Rate Loans
Term (Years)Interest Rate90% LTV Interest RateAPR*
3 to 5 Years4.250%5.250%4.250%
6 to 10 Years4.625%5.625%4.625%
11 to 15 Years4.875%5.875%4.875%
Monthly Fixed-Rate Loan Payment Examples
Monthly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedMonthly PaymentTotal Loan & Interest (80% LTV)
4$10,000$226.91$10,891.68
8$10,000$124.82$11,982.87
13$10,000$86.67$13,520.52

Bi-weekly Fixed-Rate Loans

Bi-weekly Fixed-Rate Loans
Term (Years)Interest RateAPR*
3 to 5 Years4.000%4.000%
6 to 10 Years4.375%4.375%
11 to 15 Years4.625%4.625%

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
Bi-weekly Fixed-Rate Loans Payment Examples
Term (Years)Amount BorrowedBi-Weekly PaymentTotal Loan & Interest
4$10,000$113.00$10,756.00
8$10,000$62.00$11,677.00
13$10,000$43.00$12,935.00

Adjustable Rate Line of Credit

 APR*
Flex+4.75%**

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. Listed home equity fixed interest rates are based on an 80% or less loan to value (LTV). Payments reflect the principle and interest only.

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 This offer may be withdrawn at anytime, without notice.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. 

*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.