THE SUMMIT IS AN EQUAL HOUSING LENDER. Membership eligibility required. Limited time offer.
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.
2. The Summit is not a tax or real estate advisor. Consult your tax advisor regarding the deductibility of interest.
*APR = Annual Percentage Rate is applicable only to home equity loans meeting certain requirements. The APR may not exceed 18.00%.
*As of 3/1/25, the as low as APR was 7.25% available for line limits over $50,000, 7.50% for line limits between $15,000 and $50,000, and 7.75% 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. As of 3/1/25, fully-indexed APR was 7.25%, based on a Prime Rate of 7.50% 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. Loans subject to credit approval. Certain limitations may apply.
