Home Equity Loans & Lines of Credit

Home Equity Loans & Lines of Credit

Home Equity Loans and Lines of Credit are a great way to utilize the equity you have in your home. We offer competitive rates and options for our members and will work with you to determine the best product for your specific needs.

Home Equity Line of Credit (HELOC)

  • HELOC’s allow you to use the value in your home to secure a line of credit that you can use when you need it.
  • We offer variable AND fixed rate options to align with your needs, with terms offered up to 20 years.
  • Terms and conditions apply.

Home Equity Loans

  • HE Loans are ideal for those borrowers that have a set figure they need to borrow and need it at one time as this is a lump sum loan, not a line of credit.
  • HE Loans are fixed rate with terms up to 15 years.

For all Home Equity products the following applies.

  • Property must be in New York State, within Monroe, Orleans, Genesee, Livingston, Ontario, or Wayne County.
  • Minimum loan amount is $7,500 and maximum is $150,000.
  • Current promotion offered is no closing costs with a minimum loan amount of $20,000. ***

***Should home equity loan be closed within the first 36 months of the loan open date you must reimburse Gates Chili FCU for the actual costs and fees paid in connection with opening the loan/line of credit.

  • $199 application fee.
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