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  • Home Equity Loan

    For those big one-time purchases, you can go from ‘need it’ to ‘do it’

    Find out if a Home Equity Loan is right for you

    Are you looking to fund a big project or event like a wedding or kitchen renovation? With our Home Equity Loan, you can enjoy the stability of a fixed rate, term and monthly payment.

    Home Equity Loan amounts start at $10,000. If you have equity in your home and prefer the peace of mind that comes with a fixed monthly payment amount, we invite you to explore our Home Equity Loan options.


    Choose your Home Equity Loan options

    First Niagara offers a variety of term and payment schedule options:

    • 5-, 10-, 15-, and 20-year terms**
    • Monthly or biweekly payments

    Discover the benefits of a Home Equity Loan

    Other benefits a Home Equity Loan provides:

    • Fixed rate offered throughout the loan term
    • Competitive rates
    • No application fees for owner-occupied homes    
    • No closing costs if the loan is kept open for three years (some exceptions apply)*
    • Interest paid may be tax-deductible (Consult a tax advisor regarding the deductibility of interest.)
    • Automatic payment and Pinnacle relationship discounts

    Understand Home Equity Loan terms and conditions

    We want to help you better understand the qualifications and fees associated with your Home Equity Loan account. Please take a minute to review the following:

    What are the qualifications for a Home Equity Loan? 

    • For owner-occupied one- to four-family homes and condominiums, vacation and second homes, the maximum loan to value is 85 percent and the loan must be in second lien position.
    • Non-owner occupied/investment properties, the maximum loan to value is 70 percent and the loan must be in first lien position.
    • You must have a source of income that is sufficient to satisfy the minimum payment requirements.
    • All applications are subject to credit and collateral approval.

    What fees are associated with this loan? 

    • First Niagara pays the closing costs on owner-occupied properties. If the loan is closed within three years of opening, you must reimburse certain fees. 
    • Non-owner occupied applicants are responsible for paying a nonrefundable application fee, which is credited towards closing costs at time of closing*.

    Rates, terms and conditions are subject to change at any time without notice. Other terms and conditions apply. Please contact your local branch for more details and full loan disclosure information.

The Bank will consider consumer loan requests from all applicants with United States citizenship who either reside or work in the Bank's designated lending area, subject to credit and collateral approval.

*If the loan is closed within three years of opening you must reimburse us certain fees we pay to third parties in connection with its opening. These fees are generally between $250 and $400 for accounts within Pennsylvania, Connecticut, and Massachusetts. In New York, the fees will generally be between $400 and $2,900 for lines from $25,000 to $250,000. Depending on the unique nature of your property or application, other cost, such as title insurance, may be required. Consult your loan officer for more detail.

**Example: The monthly payment for a fixed rate home equity loan of $25,000 with an APR of 5.74% repayable in 120 months would be $274.30.  The monthly payment for a fixed rate home equity loan of $50,000 with an APR of 5.99% repayable in 180 months would be $421.66.  The monthly payment for a fixed rate home equity loan of $75,000 with an APR of 7.99% repayable in 240 months would be $626.86.


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