woman painting wall in house


No closing costs1 and no annual fee.

Limited Time Offer

Introductory rate*


for six months**



after six months for $50,000+

Special rate also available for a 5-year fixed home equity loan!2



A home equity line of credit or loan from The Summit puts your home’s equity to work for you. Use it to…

home mortgage

Create your perfect kitchen

Take your dream vacation

Refinance high interest loans and consolidate debt

Home Equity Line of Credit 85% Loan Value Rates

Loan Amount
6 Month Promotional Intro APR**
Index + Margin
Resulting APR**
Payment per $1,000
$15,000 or less
Prime + .25%
$15,000.01 – $50,000
Prime + 0.00%
Over $50,000
Prime – 0.25%

View our current Home Equity Rate Sheet for a full list of rates. Looking for other home equity line of credit options? Check out our Home Equity page.

In order to expedite the process, please have your:

  • Most Recent W2 (2022)
  • 30 Days Paystubs
  • Most Recent Mortgage Statement
  • Homeowner’s Insurance Declaration Page

Home Equity Line of Credit Calculator

Use this calculator to determine the HELOC amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages and any other debt you have secured by your home.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Ready to put your home’s equity to work?

Still need help determining the equity in your home?

We’d Love to Help You Get Started

    Want to talk to someone right away?

    Contact our Mortgage Department at (585) 453-7010 or (800) 836-7328 extension 7010.

    THE SUMMIT IS AN EQUAL HOUSING LENDER. Membership eligibility required. Limited time offer. Subject to change without notice.

    View our current Home Equity Rate Sheet for a full list of rates. All loans are subject to credit approval. Must be 18 years of age or older to apply. The Summit’s loan programs, rates, terms, and conditions are subject to change without notice.

    The mortgaged property must be a 1-4 family dwelling located in New York State and occupied by an owner who is a member of The Summit.

    1. Closing costs (when applicable) include a title search, abstract redate, mortgage tax, filing fees, flood certificate fee, Credit Union appraisal fee, and title insurance, and are estimated to range from $495 to $1,500 (usually 3.0% to 5.0% of the amount borrowed). Property insurance is required. If you opt not to pay the closing costs associated with your line of credit or loan, we will require you to reimburse us for all costs we incurred to open your line of credit or loan unless you keep your account open for at least three years from the date of your home equity line of credit. You may receive a specific itemization of these fees upon request.

    * APR = Annual Percentage Rate is applicable only to home equity loans meeting certain requirements. The APR may not exceed 18.00%.

    ** As of 05/04/2023, the as low as APR was 8.00% available for line limits over $50,000, 8.25% for line limits between $15,000 and $50,000, and 8.50% for line limits of $15,000 or less. The introductory APR during the first 6 months after the open date is not based on the index and margin used to make later adjustments. After the introductory rate expires, account subject to a variable rate based on the highest Prime Rate as published in the Wall Street Journal’s Money Rates Section.  Section in effect on the day that any introductory period expires and subsequently on the last Tuesday of the calendar month immediately preceding each change date plus a margin. A change in the APR will result in a change in the payment amount. As of 05/04/2023, fully-indexed APR was 8.00%, based on a Prime Rate of 8.25% minus 0.25% on line limits over $50,000. Thereafter, variable rate subject to change based on the highest Prime Rate and a margin of minus 0.25% to plus 0.25% depending on line limit. Maximum 18% APR.

    2. Rate shown in effect May 4, 2023 through June 30, 2023. Home Equity Fixed Loan (HELOAN) is a Fixed Personal Loan with a term of 5 years at 5.90% Annual Percentage Rate (APR) when the member pays closing costs. For example: a HELOAN of $10,000 for 5 years at 5.90% APR will have a monthly payment of $192.86.