HELOC Rates New YorkBest NY Home Equity Line of Credit Rates

Compare home equity line of credit (HELOC) rates in New York

(Last Updated: 11/22/2024)
Home Equity Lenders
APR
Rate
Initial Draw
 Contact details
7.240% Intro APR
7.240% After Intro PeriodIntro Period: 0 months		 7.240% Rate $0 Min. Initial Draw Amount
Conditions:
Conditions… Variable APR of Prime minus 1.01% in all states. Min loan amount $10,000. Max loan amount $200,000. 30-year term. Annual fee waived for the first year. See conditions for guarantee at thirdfederal.com.
  • Third Federal rate are typically 20% lower than other leaders
  • Guaranteed Lowest Rate
  • No closing costs, prepayment penalties, or minimum draw requirements
  • 10 year draw period
As low as 8.25% APR on your initial draw*
Conditions:
1. APRs for initial advances range from 8.25% to 18.00% based on funded HELOCs as of September 2024. Your actual rate will depend on many factors such as your credit history, loan-to-value ratio, line amount, loan term, lien position, and property state. The lowest rates are only available to the most qualified applicants. The APR is variable, but the APR that will apply to each draw will be fixed on the date the draw is made. 2. As of October 2024, 10% of funded HELOCs achieved a closing timeline of 6 days or less and a funding timeline of 10 days or less. This timeline assumes consumers close with our remote online notary, provide supporting documentation promptly, and ensure the information provided is accurate and consistent with our verification process. Delays, discrepancies, and other unforeseen factors may impact the closing timeline. MBA’s 2024 Home Lending Study reports an average industry closing time of 31 days. 3. A Home Equity Line of Credit has a variable rate. The APR may change, but the APR that will apply to each draw will be fixed on the date the draw is made. Your APR will be the Prime Rate at the time of draw plus a margin fixed for the life of the HELOC.
  • As low as 8.25% APR on your initial draw*
  • Get your money up to 5x faster than the industry standard*
  • Fixed rate on each draw*
  • No paperwork needed to apply
Home Equity Line of Credit - Equal Housing Lender
Conditions:
Interest-only payments during the 10-year draw period
  • Home Equity Line of Credit - Equal Housing Lender
  • Loans Amounts from $25,000 - $500,000
  • Get a HELOC from PenFed to Put Your Home Equity to Work
  • HELOCs Can Offer Lower Rates Than Credit Cards or Personal Loans
2.990% Intro APR
8.250% After Intro PeriodIntro Period: 6 months		 8.250% Rate $10,000 Min. Initial Draw Amount
9.390% APR 9.390% Rate $0 Min. Initial Draw Amount
7.750% APR 7.750% Rate $0 Min. Initial Draw Amount
9.500% APR 9.500% Rate $0 Min. Initial Draw Amount
6.240% Intro APR
8.750% After Intro PeriodIntro Period: 12 months		 8.750% Rate $25,000 Min. Initial Draw Amount
5.500% Intro APR
8.000% After Intro PeriodIntro Period: 6 months		 8.000% Rate $0 Min. Initial Draw Amount
11.750% APR 11.750% Rate $0 Min. Initial Draw Amount
8.500% APR 8.500% Rate $25,000 Min. Initial Draw Amount
1.990% Intro APR
8.500% After Intro PeriodIntro Period: 6 months		 8.500% Rate $10,000 Min. Initial Draw Amount
8.790% APR 8.790% Rate $0 Min. Initial Draw Amount
7.740% Intro APR
8.250% After Intro PeriodIntro Period: 12 months		 8.250% Rate $30,000 Min. Initial Draw Amount
8.500% APR 8.500% Rate $0 Min. Initial Draw Amount
8.250% APR 8.250% Rate $0 Min. Initial Draw Amount
8.500% APR 8.500% Rate $0 Min. Initial Draw Amount
6.500% Intro APR
8.000% After Intro PeriodIntro Period: 6 months		 8.000% Rate $50,000 Min. Initial Draw Amount
5.990% Intro APR
8.250% After Intro PeriodIntro Period: 12 months		 8.250% Rate $0 Min. Initial Draw Amount
8.000% APR 8.000% Rate $0 Min. Initial Draw Amount
3.990% Intro APR
7.750% After Intro PeriodIntro Period: 6 months		 7.750% Rate $0 Min. Initial Draw Amount
8.820% APR 8.820% Rate $0 Min. Initial Draw Amount
7.500% APR 7.500% Rate $0 Min. Initial Draw Amount
5.990% Intro APR
8.000% After Intro PeriodIntro Period: 12 months		 8.000% Rate $0 Min. Initial Draw Amount
5.500% Intro APR
8.250% After Intro PeriodIntro Period: 12 months		 8.250% Rate $0 Min. Initial Draw Amount
6.490% Intro APR
9.570% After Intro PeriodIntro Period: 6 months		 9.570% Rate $100,000 Min. Initial Draw Amount
5.750% Intro APR
7.375% After Intro PeriodIntro Period: 12 months		 7.375% Rate $0 Min. Initial Draw Amount
6.000% Intro APR
8.750% After Intro PeriodIntro Period: 6 months		 8.750% Rate $0 Min. Initial Draw Amount
7.240% APR 7.240% Rate $0 Min. Initial Draw Amount
5.990% Intro APR
8.000% After Intro PeriodIntro Period: 36 months		 8.000% Rate $0 Min. Initial Draw Amount
6.000% Intro APR
8.250% After Intro PeriodIntro Period: 12 months		 8.250% Rate $0 Min. Initial Draw Amount
8.000% APR 8.000% Rate $0 Min. Initial Draw Amount
8.250% APR 8.250% Rate $0 Min. Initial Draw Amount
8.750% APR 8.750% Rate $0 Min. Initial Draw Amount
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

Finding a Home Equity Line of Credit Lender in New York State

When seeking a reputable home equity line of credit (HELOC) lender in New York State, conducting thorough research is key. Begin by exploring local banks and credit unions, known for their competitive rates and personalized service.

Major national banks also have a presence in New York and can offer a variety of HELOC options. Utilize online comparison tools to evaluate different lenders based on interest rates, fees, and customer reviews.

Consulting with a financial advisor or real estate expert familiar with the New York market can provide tailored advice, ensuring your financial needs and goals are met. The ideal lender should offer attractive rates, clear terms, and reliable customer support.

Navigating the diverse landscape of HELOC lenders in New York State requires a balanced approach, focusing on both local and national financial institutions. Prioritizing lenders that combine competitive rates with robust customer service can significantly enhance your borrowing experience.

Additionally, leveraging the expertise of financial or real estate professionals can guide you towards making an informed choice, tailored to the unique dynamics of New York's real estate market. Opt for a lender that not only meets your current financial needs but also aligns with your long-term financial strategy, ensuring a partnership that supports your financial well-being.

Moreover, it's wise to inquire about any additional benefits or features offered by lenders, such as flexible repayment options or the ability to lock in a fixed interest rate on a portion of your HELOC. Understanding the application process and any potential for closing costs or other fees upfront can also prevent any surprises down the line. In New York State, where the housing market can vary greatly from one region to another, selecting a lender with local expertise and a strong track record can provide added reassurance. Remember, the right HELOC lender will not only offer competitive terms but will also be a partner in achieving your financial goals, whether you're consolidating debt, making home improvements, or financing other significant expenditures.

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