Home Equity & Home Improvement Loans

home equity loans syracuse ny house with arrows pointing to pay for college home projects consolidate debt vacations unexpected expenses

Achieve your Dreams in 2026!

With a Home Equity Line of Credit as low as 1.55% APR¹+ NO CLOSING COSTS!²

What Can You Do with a Home Equity Loan or Home Equity Line of Credit?

With a Home Equity Loan or Home Equity Line of Credit, what you do is up to you. Popular uses of a Home Equity Loan or Home Equity Line of Credit Include, but are certainly not limited to:

Home Improvements
Enjoying a Vacation
Emergency Expenses
Paying for College

Buying Something That You've Always Wanted
Investing
Consolidating Debt
Major Appliance Replacements

and more

View Home Equity Rates

Home Equity Loans and Home Improvement Financing Near Syracuse, NY

SECNY Federal Credit Union helps Central New York homeowners access their home’s equity with:

Competitive rates
Flexible repayment terms
Personalized, local service

Whether you’re renovating your home, consolidating debt, or paying for major expenses, our Syracuse-based lending team can help you find the right solution.

How Does a Home Equity Loan Work?

A home equity loan allows you to borrow against the available equity in your home with predictable monthly payments and fixed interest rates. Many homeowners choose home equity loans when they need a lump sum for larger projects or expenses.

What is the difference between a Fixed Rate Home Equity Loan and a Home Equity Line of Credit?

Both are based on the equity you have built up in your home. SECNY FCU will lend up to 90% of the appraised value of your home, subtracting any existing liens being kept. A home equity loan provides a lump sum with predictable payments. A HELOC functions similarly to a credit card. With a Home Equity Line of Credit, you may take money out as needed.

A Home Equity Loan or Home Equity Line of Credit Can Be Used as a...

Debt consolidation loan
Home improvement loan
Private student loan
and more

Life and Disability Insurance is available upon request.

Let's Talk About Your Options

How Does a Fixed Rate Home Equity Loan Work?

With our Fixed Rate Home Equity Loan, you receive the money you are borrowing all at once and repay it over a set amount of time, at a fixed interest rate. There are no draws available with this loan type.

Is a Fixed Rate Home Equity Loan Right for You?

A fixed rate home equity loan is a great option for debt consolidation, paying for education expenses, or home improvement financing for your windows, roofing or driveway, or other home renovations.

What is a Home Equity Line of Credit (HELOC)?

A Home Equity Line of Credit (HELOC) is a variable rate loan that allows you to take draws on the line of credit as you need it. The payments are based on the principal and interest of the amount used. A Home Equity Line of Credit is perfect for home improvement financing, particularly remodeling parts of your home, because it provides flexibility for financing. Refer to the Home Equity Early Disclosures for details.

Important Info about HELOCs Home Equity Early Disclosures

SECNY is a proud lender to homeowners in Central New York. We are your local partner for home improvement loans.

Our mortgage department is comprised of a team of professional, knowledgeable individuals. Our primary focus is on the personalized service we provide our members.

What Makes SECNY FCU the Preferred Choice for Home Equity Financing?

With our great home equity rates, customized lending solutions and quick processing time, you will be sure to love us and the all the services we have to offer, now and in the future!

What Convenient Options Are Available for Making Payments on a Home Equity Loan or HELOC?

Automatic payments, payroll deduction and direct deposit are just a few of the services we offer to our members.

The Trusted, Local Choice for Home Equity Financing

Homeowners throughout Syracuse, Liverpool, Cicero, Clay, Baldwinsville, Fayetteville, and surrounding Central New York communities choose SECNY because of our commitment to personalized, local lending.

Our team is here to help guide you through every step of the process.

Ready to apply? All eligible borrowers will need to become a member of the credit union and open their membership account prior to or at time of application. View membership eligibility.

Please see the checklist below for a list of items needed to process Home Equity Loans and HELOCs.

Home Equity Checklist View Rates

Online Home Equity Application

^{1 APR = Annual Percentage Rate. As low as 1.55% APR locked in for 1 year. Rate expressed for Line of Credit is variable and can be adjusted annually on the first day of the month following the anniversary date of opening. The rate is based on an Index Rate of the Wall Street Journal Prime Rate. There is no limit on the amount by which the Annual Percentage Rate can change during any one period up to the maximum permitted by law. Loan rate and amount are based on credit qualifications and available equity in property. Subject to change without notice. Home Equity Lines of Credit currently financed through SECNY Federal Credit Union cannot be refinanced with this offer. Funds advanced from a Home Equity Line of Credit with SECNY cannot be used to open a Certificate of Deposit at SECNY. Contact any SECNY office for details.}
^{2 All fees paid in conjunction with the loan are subject to recapture if the loan is closed within three years}