Fairport Federal Credit Union

  Monday – Thursday: 9am–5pm   Friday: 9am–6pm   Saturday: 9am–noon

  585.223.9151    |      585.425.7253

Home Equity Disclosures


Home Equity Fixed Loans


Interest is tax deductible subject to certain limitations. Consult your tax advisor for details. Should you pay off your loan for any reason prior to the third anniversary of the loan, you will repay the credit union a prorated portion of the third party fees incurred to open the loan. Closing cost fees paid to third parties range from $300 to $1000. Hazard, flood, and title insurance, if applicable, are required on your property. A home equity loan is secured by a mortgage on your home. Available only for one-to-four-family owner-occupied residences within New York State. Rate subject to change without notice.



Home Equity Line of Credit


Your Annual Percentage Rate can be as low as Prime Rate -.30% for the life of your loan. The Annual Percentage Rate (APR) may vary monthly and will be based on the highest Prime Rate published in The Wall Street Journal (3.25% as of February 2013), for the life of the line of credit. Minimum line amount is $7,500. Closing cost fees paid to third parties range from $300 to $2,600. The APR for all lines will not exceed 18.0%.

Interest is tax deductible subject to certain limitations. Consult your tax advisor for details. Should you terminate your line for any reason prior to the third anniversary of the line, you will repay the credit union a prorated portion of third party fees incurred to open the li ne. Hazard, flood, and title insurance, if applicable, are required on your property. A home equity line is secured by a mortgage on your home.