Hudson Valley FCU (NY) Offering HELOC with 1.79% Introductory Interest Rate for 6 Months

Hudson Valley Federal Credit Union logoHaving access to affordable credit can be a lifesaver when unexpected bills or major expenses pop up. Homeowners with equity in their property have an opportunity to borrow against their home through a home equity line of credit (HELOC), which provides more flexibility than most other lending tools. Through a home equity line of credit, homeowners can borrow what they need when they need it, and plan for an extended repayment that best meets their needs. Before securing a home equity line of credit, it is helpful to shop around to ensure you’re getting the lowest available interest rate along with the most beneficial repayment options.

The Offer

Currently, Hudson Valley Federal Credit Union is offering a home equity line of credit with an interest rate as low as 1.79%. Qualified borrowers receive the promotional rate for the first six months after establishing a new credit line, after which time the interest rate reverts to a variable rate as low as 4%. Borrowers who use Hudson Valley Federal Credit Union pay no closing costs for a new home equity line of credit, nor do they pay an application fee. The offer is valid through November 15, 2017.

Homeowners have the opportunity to borrow up to $250,000 with the credit union’s home equity line, and the total credit line offered is dependent on the home’s loan-to-value ratio based on an appraised value and the credit history of the borrower. The lowest possible interest rate includes a 0.25% discount for establishing automatic payments from a Hudson Valley checking or savings account. Closing costs are waived for new applications, but the home equity line must remain open for at least three years to avoid any recapture of paid fees.

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Prior to applying for a new home equity line of credit, borrowers must be a member of Hudson Valley FCU in good standing. Membership is made available to anyone who lives, works, worships, volunteers, or attends school in Dutchess, Ulster, Orange, or Putnam Counties in New York.

About Hudson Valley Federal Credit Union

For more than 50 years, Hudson Valley Federal Credit Union has been serving members throughout the state of New York with a variety of banking solutions. In addition to home equity lines of credit, the credit union offers purchase mortgage loans, auto loans, consumer loans, savings and checking accounts, and insurance and wealth management services. The credit union operates 18 full-service branch locations and a large network of co-op ATMs.

Homeowners interested in the low interest rate home equity line of credit from Hudson Valley Federal Credit Union may gather additional information or apply by visiting a full-service branch location, contacting a member service representative at 1-845-463-3011, or by visiting the credit union online.

Posted on November 7, 2017 by in Home Equity Line of Credit, Mortgages,

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11/16/2017