First Source Credit Union
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Home Equity Loan

A Smart Way to Borrow

Turn your home’s equity into a lump sum you can use right away. Whether you’re planning a renovation, consolidating debt, or covering a major expense, a Home Equity Loan from First Source gives you predictable payments and a clear path forward.

Now is a great time to refinance. Lower your debt with a home equity loan at rates as low as 4.74% APR, plus an additional 0.25% off*. Borrow up to 80% of your home's value and put your equity to work. Make an appointment or give us a call today.

*Promotional rate available 4/1/26–5/30/26 for new loans or existing first lien home equity loans with an additional advance of $10,000. Membership eligibility and credit requirements apply. Equal housing lender.

Explore Rates & Payments

View Today’s Home Equity Loan Rates

Compare current fixed rates to see what’s available and how your monthly payment could look.

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Estimate Your Monthly Payment

Use our home equity loan calculator to estimate payments based on your loan amount, rate, and term.

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Apply for a Home Equity Loan Online

Apply online for a Home Equity Loan and get the funds you need upfront—with the confidence of knowing exactly what to expect.

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Couple reviewing home equity loan paperwork together

How a Home Equity Loan Works

A home equity loan allows you to borrow against the value of your home and receive the funds as a one-time lump sum. You’ll repay the loan over a fixed term with a consistent interest rate and predictable monthly payments.

Often referred to as a second mortgage, this option is ideal when you know exactly how much you need and want stability in your repayment plan.

When a Home Equity Loan Makes Sense

A home equity loan may be the right choice if you’re:

  • Planning a large, one-time expense like a home renovation
  • Consolidating high-interest debt into one fixed payment
  • Funding a major life event such as a wedding
  • Covering tuition or other significant costs
  • Looking for predictable monthly payments with no surprises
Graduates celebrating a major life milestone
Homeowner reviewing home equity loan information

Why Choose a Home Equity Loan

  • Fixed interest rate for consistent monthly payments
  • Lump sum funding for immediate access to cash
  • Competitive rates compared to credit cards and unsecured loans
  • Potential tax advantages depending on use (consult your tax advisor)
  • Structured repayment timeline so you know when you’ll be done

Not Sure If a HELOC Is a Better Fit?

If you’re not sure whether you need a lump sum or flexible access to funds over time, a Home Equity Line of Credit (HELOC) may be worth exploring.

A HELOC allows you to borrow as needed, making it a better fit for ongoing or unpredictable expenses.

Explore HELOC Options
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Protect your home with coverage you can trust. We’ll help you get started.

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Live Smarter

Your home’s equity can be a powerful financial tool. Let’s use it in a way that works for your goals.

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If you’re not quite ready to apply and have questions, we’re here to help. Call 315-735-8571 to discuss your options or schedule an appointment with one of our knowledgeable representatives.

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Loan rates and terms are determined by overall credit history and are subject to change without notice. Applications are subject to credit approval. Membership eligibility required.