Home Equity Loans and Credit Lines

A Trustco home equity loan or line of credit allows you to borrow the money you need for home improvements, a new car, the boat you've always wanted and so many other important purchases.

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Home Equity Credit Line*

• Fixed 12 month introductory period
• 1st or 2nd mortgages over $7,500 up to $300,000
• Revolving credit line based on the equity you have in your home
• Low variable rates
• Fast decisions
• No appraisal fees or origination fees
• Financing options up to 80% Loan to Value¹
• Quick application process with no fees or closing costs²
• Easy check writing access to the line of credit
• Closings in as fast as 30 days

Fixed Rate Home Equity Credit Line**

• Revolving line available as needed for first 5 years
• 1st or 2nd mortgages over $7,500 up to $300,000
• Revolving credit line based on the equity you have in your home
• Low fixed rate
• Fast decisions
• No appraisal fees or origination fees
• Financing options up to 80% Loan to Value¹
• Quick application process with no fees or closing costs²

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 with no fees or closing costs²
• No appraisal fees or origination fees

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Rates include autocharge discount of 0.125%. 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 75% Cumulative Loan to Value on 2nd Liens.

² No closing costs: If loan is cancelled for any reason within three years from closing date, all closing costs we pay for you at closing will be added to your payoff amount. In addition for Credit Lines: No closing costs if $15,000 or more is drawn on your line at closing. If less than $15,000 is drawn, local recording taxes and fees may apply. Third party fees include mortgage tax and mortgage filing fee totaling $570, based on a $50,000 line at a 1% tax rate. Mortgage tax and filing fees vary by state and county and mortgage document.

* Home Equity Credit Line: Current Introductory Annual Percentage Rate is 3.99%. The rate and APR are fixed for the first twelve months . After the first twelve months, the rate and APR are variable rates for the remaining life of the loan based on the Prime Rate. APRs for Home Equity Lines of Credit are variable and are subject to change weekly based on the Wall Street Journal Prime Rate, which is currently 7.75% effective February 2, 2023. The maximum rate is 16.00% APR. The term is based on a 10 year draw period and a 20 year repayment period.

** 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 5 year draw period and a 15 year repayment period and payments auto charged from a Trustco Bank deposit account- The APR is reduced for the first 12months. After the first 12 months, the APR is fixed for the remainder of the life of the loan, this rate is not variable and will not increase. During the 5 year draw period, payments are interest only. After this period, payments will convert to principal and interest calculated at the remaining 15 year term. Property insurance required and flood insurance may be required. Home Equity Credit Lines are also available as a second lien, different terms and conditions apply.