Home Equity Credit

Pay no fees or closing costs on Home Equity loans or lines of credit AND save on taxes!

  • Borrow up to 85% of the value of your home, less the first mortgage balance.
  • Deduct up to 100% of the interest you pay for significant savings each year at tax time. (Consult your tax advisor regarding deductibility of interest.)
  • There’s currently no application fee and BSCU pays the closing costs.

Home Equity Loan*

It’s the money you need, fast, the low loan rate you like, and the tax savings you may qualify for. Enjoy:

  • Fixed rates
  • Monthly payments that won't increase
  • No closing costs

Use the money for home improvements, consolidate bills or refinance your high-rate loans from other financial institutions. The loan process is fast and easy. Call 842-1320 or stop by one of our offices for an application today!

*Annual Percentage Rate (APR). Loan is subject to application and approval. This is a fixed-rate Home Equity Loan secured by a mortgage lien on your property. Various rates and terms apply. Buffalo Service Credit Union will pay all closing costs. If you terminate the loan within 36 months of your closing date, you must re-pay all closing costs. Property insurance naming Buffalo Service Credit Union as loss payee is required.

Home Equity Line of Credit**

If you can dream it, you can do it with a BSCU Home Equity Line of Credit! A BSCU Home Equity Line of Credit provides an ideal way to pay for virtually any expense. Make home improvements, buy a car, pay for a vacation... the possibilities are endless with this flexible financing option.

  • Low monthly payments
  • Tax deductibility
  • Your line of credit is replenished as you repay it, so you can use it again and again.

**Home Equity Line of Credit annual percentage rate (APR) is based on the Wall Street Journal Prime Rate on the first business day of February. Rate is variable with 4.0% being the lowest offered and all other approved rates based on prime rate plus an applicable margin. The lifetime cap is 18% and annual maximum increase is 2.0%. Your line is secured by a mortgage on your home. Buffalo Service Credit Union will pay all closing costs with the exception of previously issued documents. If you terminate the line of credit within 36 months of your closing date, you must re-pay all closing costs. Property insurance naming Buffalo Service Credit Union as loss payee is required. Additional restrictions may apply.

 

Mini Equity Loan

When you need a larger amount of cash fast- use your home as collateral with BSCU's Mini Equity Secured Loan – a fast, simple alternative to home equity financing.

  • Borrow up to $25,000 at a fixed rate
  • Rate is based on your loan term. (Member pays the closing costs.)
  • You may be eligible for tax savings. (Consult your tax advisor regarding tax deductibility.)
  • No pre-payment penalty
  • Up to 100% of your home's equity can be used