Home Equity Loans

 home equity loan

Get a Home Equity Loan

The Summit’s Home Equity Loans provide you with ultimate financial power with low rates, no closing costs options,1 and potential tax savings2.

Apply Today Schedule a Zoom Appointment

The Benefits of a Home Equity Loan from The Summit

Flexible Borrowing Options

Borrow up to 85% of the equity in your home — and in some cases, up to 95%.

Easy Repayment Options

Select repayment terms of 5, 10 or 15 years with easy repayment options.

Potential Tax Savings

The interest you pay on a Summit Home Equity Line of Credit (HELOC) or Loan may be tax-deductible2

Get Started Today!

Apply online, schedule a Zoom Appointment, visit a branch or contact us at (585) 453-7000 or (800) 836-7328.

Home Equity Loan Rates

Home Equity Loan 85% Loan Value Rates

Rates effective March 16 through March 31, 2023

Fixed APR* with Automatic Payment3
Payment per $1,000
Fixed APR with Billing
Payment per $1,000
60 months
120 months

Home Equity Loan 95% Loan Value Rates

Dates effective March 16 through March 31, 2023

Index + Margin
Resulting APR
Payment per $1,000
Up to 180 months
Prime + 0.85%

Here is a list of items to provide at time of application to expedite the process:

  • Most Recent W2 (2023)
  • 30 Days Paystubs
  • Most Recent Mortgage Statement
  • Homeowner’s Insurance Declaration Page

Contact us for more information

    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. All loans are subject to credit approval. Additional restrictions may apply.

    * APR – Annual Percentage Rate is applicable only to home equity loans meeting certain requirements.

    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.

    2. The Summit is not a tax or real estate advisor. Consult your tax advisor regarding the deductibility of interest.

    3. The automatic payment rate is only available when you authorize The Summit to automatically deduct payments from your Automatic Loan Payment Share account. To receive the automatic payment rate, the payment transfer must be from your Checking Account or Automatic Loan Payment Share account.

    Not responsible for typographic errors.