Loan Products

Greater Equity

Home Equity Loans

  • Let your home work for you, providing funds for education, vacation, home improvement and more!
  • Fixed rates and credit line loans available.
  • Ask us for details

Home Equity Line of Credit

  • Variable rate loan; 25 year loan term
  • 2.95%  for the first 12 months
  • After first 12 months, APR will be equal to WSJ Prime rate.
  • Max rate cap = 18.00%
  • $250 application fee refunded at closing
  • Credit lines available from $10,000 to $250,000 – owner occupied homes or condos
  • Line is available for first 10 years via check or online transfer - $500 minimum
  • Billed for interest only the first 10 years but can pre-pay principal at any time
  • Payments for the 11th – 25th year include principal and interest
  • Property insurance is required; Flood insurance may be required
  • Loans are subject to credit approval and secured by a mortgage lien on home
  • If loan is terminated within three (3) years of closing, borrower is obligated to pay back closing costs
  • $10,000 advance at closing is needed to qualify for no closing costs
  • Payments must be auto deducted from a free GenGold checking account – if account is not maintained APR may be increased by .25% over current index regardless of funds advanced.
  • New business only
  • No annual fee

*This is a variable rate loan; however, the 2.95% Annual Percentage Rate (“APR”) is a fixed introductory APR that will be in effect for the first 12 months following closing. This introductory APR is not based on the index or margin used for adjustments in the remainder of the 25-year loan term. After the first 12 months, the APR may vary and will be equal to the highest Wall Street Journal Prime Rate, as published on the last business day of the preceding month (the “index”). Based on the current Prime Rate (as of 4/9/11), the APR would be 3.25%. Maximum rate cap is 18.00%. $250 application fee will be refunded at closing. Credit lines from $10,000 to $250,000 are available for owner-occupied homes and condominiums only. The credit line is available for the first 10 years by writing a check or transferring online (minimum $500). You will be billed for interest only during the first 10 years; however, you may repay principal at any time. Payments from the 11th through the 25th year will include principal and interest. Property insurance is required. Flood insurance may be required. Loans are subject to credit approval and are secured by a mortgage lien on your home. If the loan is terminated within three (3) years of closing, the borrower will be obligated to refund the Bank’s actual closing costs. (These closing costs range from $500 to $6,750 depending on the amount of the loan.) A $10,000 advance at closing is needed to qualify for no closing costs. Payments must be auto-deducted from a free Greater Hudson Generations Gold checking account. If a checking account is not maintained, the APR may be increased by .25% over the current index, regardless of whether funds are advanced or not. You may be able to deduct the interest on a Home Equity Line of Credit; consult your personal tax advisor. New business only. Subject to change without notice. Offer is subject to credit approval.

Consumer Loans