Home Equity Loans and Credit Lines

Use a Trustco home equity loan or line of credit to borrow the money you need to renovate your home, refinance your mortgage, consolidate your debt, or other unexpected expenses.

Variable Rate Home Equity Credit Line*

  • Fixed 12 month introductory period

  • 1st or 2nd mortgages over $15,000 up to $300,000

  • Revolving credit line based on the equity you have in your home

  • Low variable rates

  • Fast decisions

  • Financing options up to 80% Loan to Value1

  • Quick application process

  • Easy check writing access to the line of credit

Fixed Rate Home Equity Credit Line**

  • 12 month introductory period
  • Revolving line available as needed for first 10 years

  • 1st or 2nd mortgages over $15,000 up to $300,000

  • Revolving credit line based on the equity you have in your home

  • Low fixed rate

  • Fast decisions

  • Financing options up to 80% Loan to Value1

  • Quick application process

Home Equity Loan

  • 1st or 2nd mortgages over $5,000 up to $300,000

  • Low fixed rates

  • Financing options up to 89.5% Loan to Value1

  • Fast decisions

  • Quick application process

All loans subject to credit approval. Please note: we have the right to alter or withdraw this product or certain features thereof without prior notification. Member FDIC Equal Housing Lender. NMLS# 474376

1 Condominium financing up to 75% Loan to Value on 1st Liens and 89.5% Cumulative Loan to Value on 2nd Liens

* Home Equity Credit Line: Annual Percentage Rate (APR). Rate listed applies to owner-occupied primary residence 1st and 2nd Lien Home Equity Credit Line of $15,000 - $300,000. Includes autocharge discount of 0.125%. The APR is fixed for the first 12 months. After the first 12 months, the APR is a variable rate for the remaining life of the loan based on the Prime Rate. APRs are variable and subject to change weekly based on the Wall Street Journal Prime Rate, which is currently 8.50% effective 07/27/2023. The maximum rate is 16.00% APR. The term is based on a 10 year draw period and a 20 year repayment period. Property insurance required and flood insurance may be required. If you terminate your loan within 3 years of your closing date or do not advance $15,000 at closing, you will be required to reimburse Trustco Bank for any third party fees that may have been paid on your behalf. If less than $15,000 is drawn, local recording taxes and fees may apply. Third party fees could include fees for state mortgage tax, recording the mortgage, credit report fees, flood determination fees and appraisal fees totaling $75 - $3,000. Mortgage tax and filing fees may vary by mortgage document, county and state. Consult a tax advisor regarding tax deductibility of interest. Please note: Subject to credit approval. All rates subject to change.

** Fixed Rate Home Equity Credit Line: The Annual Percentage Rate applies to loans in the first lien position, up to 80% Loan-to-Value (LTV) with a term based on a 10 year draw period and a 20 year repayment period and autocharge discount of 0.125%. The APR is reduced to 5.125% APR for the first 12 months. After the first 12 months, the APR is fixed at 7.375% APR for the remainder of the life of the loan, this rate is not variable and will not increase. During the 10 year draw period, payments are interest only. After this period, payments will convert to principal and interest calculated at the remaining 20 year term. Property insurance required and flood insurance may be required. If you terminate your loan within 3 years of your closing date or do not advance $15,000 at closing, you will be required to reimburse Trustco Bank for any third party fees that may have been paid on your behalf. If less than $15,000 is drawn, local recording taxes and fees may apply. Third party fees could include fees for state mortgage tax, recording the mortgage, credit report fees, flood determination fees and appraisal fees totaling $75 - $3,000. Mortgage tax and filing fees may vary by mortgage document, county and state. Consult a tax advisor regarding tax deductibility of interest. Please note: Subject to credit approval. All rates subject to change. Home Equity Credit Lines are also available as a second lien, different terms and conditions apply.