The equity you've built in your home is a powerful tool. Whether you want to invest in sustainable home upgrades, pay for college, or consolidate debt, your home equity can help you reach today’s goals and build a better future.
We generally limit home equity lending to the Greater Syracuse region. Learn more about who can join Cooperative Federal.
Coop Fed offers two types of Home Equity loans:
Home Equity Lines of Credit (HELOCs) allow you to draw down funds on a revolving basis for up to 15 years. Your monthly payments are based on the amount you owe at a given time at adjustable interest rates.
Home Equity Loans are closed-end loans that have fixed interest rates and flat monthly payments.
You can use a Home Equity Loan or HELOC for practically anything. Invest in your home, your community and your future. Popular home equity loan uses include:
Home improvement or repair
Solar electric installation
Property tax refinance
College tuition / educational expenses
Small business expenses
Other cash out
Because Home Equity Loans and HELOCs are secured by a lien on your home, they may have tax benefits. Consult your tax advisor for details and guidance.