Home Equity Lines of Credit
We’re here to make this experience enjoyable – and to keep your stress level and payments low!
Please contact the credit union to receive a folder containing the Home Equity Line of Credit application, checklist, and packet.
Home Equity Line of Credit
This service is an open end Line of Credit designed for members interested in a Home Equity Loan with the convenience of a line of credit. Members are able to take advances as needed, rather than a lump sum. A line of credit is easy, convenient and the interest is tax deductible! Contact our expert loan officers at 716-634-3881 for more details.
- Finance amounts from $10,000 – $200,000
- Terms up to 15 years
- Choose between a variable rate and a fixed rate. The variable rate is tied to prime rate and may change only two times per year.
- Up to 85% financing of funds
- First advance must occur within 6 months of financing
- Borrowers can take advances or draw on their home equity line of credit up to 5 time per year up to the fifth year
- No closing costs when open for 3 year minimum
- No application fee
- No appraisal fee as long as the line of credit is approved and opened
- Loan interest may be tax deductible
- Disability and credit life insurance available on any loan for eligible applicants
Mini Home Equity Line of Credit
A Mini Home Equity Loan is a convenient, affordable way to turn equity in your home into a ready source of cash for almost anything you need.
- Finance amounts from $1,000.00 – $30,000.00
- A fixed rate with terms from 3 years to 5 years
- One time advance of funds
- Up to 90% financing of funds
- Use your home as security
- No closing costs when open for a 1 year minimum
- No application fee
- No appraisal fee as long as the line of credit is approved and opened
- Loan interest may be tax deductible
Do you need extra money quickly without extra paperwork or hassles? Do you own your own home? Inquire about a Mini Home Equity Line of Credit, it may be the perfect answer. Call our expert loan department for more information at 716-634-3881. Certain terms and conditions apply.
Notice to Borrowers
The SAFE Act requires financial institutions that originate mortgage loans (Home Equity Loans, Home Equity Lines of Credit, Mini Equity Loans and First Mortgages) to register with the Nationwide Mortgage Licensing System & Registry (NMLS). Loan Officers at financial institutions that are involved with mortgage loans in any aspect are considered Mortgage Loan Originators (MLO) and must also be individually registered with the NMLS. Each financial institution and MLO are assigned unique ID numbers. It is the consumers’ right to verify that the financial institution and/or Loan Officer are registered with the NMLS. The NMLS Consumer Access website is: www.nmlsconsumeraccess.org.
The following employees of Amherst Federal Credit Union (463322) are registered MLO’s with the NMLS:
Cindy Tichenor MLO#1432430
Jolene Bosworth MLO#1476119
Keri Walczyk MLO #583635
Stacey Koczaja MLO#1432021