A Second Mortgage…the Home Equity
Use this loan for any worthwhile purpose and you may enjoy the advantage of tax deductible interest.*

Fixed Term, Fixed Rate…
This unique Home Equity loan is designed to offer members a fixed rate, fixed term loan with the ability to write off interest on federal income taxes.*

Qualifying Properties…
Any one- or two-family, owner-occupied residential property can qualify for a Fixed Rate Home Equity Loan. No commercial properties or residences that include a place of business can qualify. Residential zoned properties only. The property must be located on a publicly owned and maintained thoroughfare; right of way access is not allowed. Mobile homes or converted mobile homes are not eligible for this program.

*Consult your tax advisor regarding deductible interest on your federal income taxes.

Maximum Amount…
90% of appraised value minus first mortgage up to $100,000 with a maximum term of 10 years, or 90% of appraised value minus first mortgage up to $100,000 or 70% of appraised value up tp $150,000. Maximum term of 15 years.

Minimum Amount…
$5,000.00

Prepayment Penalty…
None

Fees…
Certain filing fees do apply

Areas Eligible for Lending…
Counties of Broome, Tioga, Chenango, Tompkins, Chemung, Schuyler, Cortland, Delaware, Otsego, Steuben, Onondaga, Cayuga, Madison, Oswego, Yates, and Seneca in New York; counties of Susquehanna and Bradford in Pennsylvania.

Conditions…
The Fixed Rate Home Equity Loan must be paid off if the property is sold by a transfer or by a land contract.

Loan Link, 24 hours a day: 1-888-327-7730