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

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 89.5% Loan to Value1
  • Quick application process with no fees or closing costs

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

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

2No 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 of $500 and mortgage filing fee of $70 based on a $50,000 line at 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 2.49%. 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, with a floor rate of 4.75%. 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 4.25% effective March 10, 2020. 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: Loans up to 89.5% Loan-to-Value (LTV) with a term based on a 5 year draw period and a 15 year repayment period and payments autocharged from a Trustco Bank deposit account - 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. Loan payment example:$50,000 loan at 3.75% APR for 20 years, interest only payment would be approximately $156.25. The principal and interest payment calculated over the remaining term of 15 years would vary between $434.03 and $277.78.