Home Equity Loan Rates

Borrow against your home’s equity with a fixed rate, clear payoff date, and no closing costs!**

Common reasons members use home equity loans:

• Home improvements (kitchens, baths, roofs, HVAC, accessibility upgrades)
• Debt consolidation (roll multiple payments into one)
• Major expenses (tuition, medical costs, life events)
• “Big ticket” purchases, where a fixed payment makes planning easier

A few things to know before you compare rates

Rates are important, so is understanding what shapes them. With home equity loans, pricing and terms can vary based on factors like:

1. Loan term (shorter terms often price differently than longer terms)
2. Loan amount and loan-to-value (LTV)
3. Appraisal requirements (drive-by vs. full appraisal)
4. Whether you enroll in Auto Pay (our posted rates already reflect an Auto Pay discount)

Today’s home equity loan rates and terms

Use the table below to compare current options and choose the term that fits your budget and timeline. Highlights to note as you review:

• Choice One offers terms ranging from up to 58 months to up to 15 years, depending on the rate tier.
• Some options may require a full appraisal, while others may allow a drive-by appraisal with specific limits.

Want flexibility instead of a lump sum?

Some members prefer access to funds over time rather than receiving the full loan amount at once. If that’s you, a Home Equity Line of Credit (HELOC) can be a better fit. Below you’ll also see HELOC rate details, including:

• An introductory rate period featuring a variable rate that converts to the Prime Rate after intro period expires
• Rate-change timing (listed as quarterly on Jan/Apr/Jul/Oct) and maximum/minimum APR details

How to get started

1. Check today’s rates: Review the rate tables and decide which loan type and term align with your payment and comfort zone.
2. Apply online: Use the “Apply for a Home Equity Loan” button to start securely online.
3. Call or visit a branch: Talk with a Choice One Loan Representative at any of our branches in Plains, Wilkes-Barre, Hazleton, Old Forge, or Kingston. We’ll help you compare options and answer your questions.

Home equity FAQ

Is a home equity loan a fixed rate?
Yes, this page lists fixed-rate home equity loan options with set terms and a defined payoff timeline. You can also opt for a HELOC, which acts more like a revolving credit line. HELOC rate details are also listed on this page.

What’s the difference between a home equity loan and a HELOC?
A home equity loan typically provides a lump sum with a fixed rate and fixed payment schedule. A HELOC generally works more like a revolving line with a variable rate after any intro period.

Will I need an appraisal?
It depends. The rate table notes when a full appraisal is required and when a drive-by appraisal may apply (with specific limits).

Do rates include an Auto Pay discount?
Yes, our posted home equity loan rates include a .25% discount with Auto Pay.

*APR=Annual Percentage Rate. Rates shown are for qualified borrowers and are subject to change without notice. Rate shown for the Home Equity Fixed Rate includes a .25% discount for auto deduct from a Choice One share or share draft account. Additional rates and terms are available. Rates shown for HELOC is a special introductory rate for a 6-month period and in effect until 6/30/2026. At the end of the introductory rate term, the rate converts to the Prime Rate. Maximum Rate is 18.00%. Minimum Rate is 5.00%. Minimum monthly payment $100.00. The annual percentage rate can change quarterly on the first day of January, April, July and October. There is no limit on the amount by which the annual percentage rate can change during any one year period. Contact the credit union for complete details.

**No Closing Cost Promotion applies to first lien only. Third party fees will be reimbursed for the cost of originating your loan excluding any property tax or transfer fees.  Fee Reimbursement–The lender may have paid some third party fees associated with this loan.  Please refer to the Closing Disclosure provided prior to loan closing for an itemization of third party fees paid by the Borrower (if applicable), and those paid by the Lender on the Borrower’s behalf.  The Borrower agrees to reimburse the Lender the actual amount of bona fide third party fees paid on the Borrower’s behalf, as permitted by applicable law, if the loan is paid off within twenty four (24) months after consummation.