What is a Home Equity Loan?


A Home Equity Loan is a loan that is secured by the equity you have in your home. Your home’s equity is the amount of home you actually own, in other words the current value of your home minus the amount you still owe on your home. Because a Home Equity Loan uses the equity in your home as collateral, it often allows you to borrow a larger amount than a Personal Loan. Home Equity Loans are different than Home Equity Lines of Credit.

Don’t have equity in your home? Don’t worry! Read about our no equity Equity Edge Loan.

Today’s Home Equity Rates

5 Year Term


Interest Rate



LOANS UP TO $175,000
15 Year Term


Interest Rate



LOANS UP TO $175,000

Ready to Speak with a Home Equity Expert?

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What are the Benefits of a Home Equity Loan?

How Do I Get a Home Equity Loan in 4 Easy Steps?

How Can I Use my Home Equity Loan?

The funds from your Home Equity Loan can be used for just about anything!
Check out our list of possible uses, and click to read more.

 Debt Consolidation
 Home Improvement
 Major Purchase

Read the Ultimate Guide to Home Improvements

Home Improvement Tips

Smart Tips for Home Improvements

Download our free guide, “Your Guide to Home Improvements”, to help you get started planning your next project.

Home Equity Loan vs Personal Loan?

OK, so you need money to get these home projects done. But is a Home Equity Loan or a Personal Loan a smarter move? Find out which may be the better option for you with this quick quiz. Or read more on the difference.

Calculate Your Home Equity Loan Payment


Use our Home Equity Loan Calculator to estimate your home equity payment based on the amount you want, desired term and interest rate. Understanding how much your monthly payment will be can help you determine a loan amount you can afford.

How to Apply for a Home Equity Loan

With over 100 years of combined experience, our Mortgage experts will help guide you through the entire Home equity process.

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Don Spiro


Branches Covered:
Kingston, Saugerties & Woodstock

NMLS #: 515614

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Bill Walsh


Branches Covered:
Red Hook, Rhinebeck, LaGrange,
Poughkeepsie & Putnam County
NMLS #: 454307

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Denise Quinn


Branches Covered:
Middletown, Newburgh, Fishkill & Rockland County

NMLS #: 454310

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Branches Covered:
Highland, Hurley Ave., Port Ewen & Sullivan County

NMLS #: 184229

Apply Now With Sean


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Have a Question? We’ll Contact You

See What the Mid-Hudson Valley has to say About us

When we were looking for a Home Equity product to finance our son's college education, we did do comparison shopping in the area. Working with the MHV staff was such a pleasant experience. The electronic pre-closing and final closing made the whole process a breeze. MHV truly understands the needs of families, the flexibility and features of their Home Equity products are much better than similar products available from other financial institutions in this area.

Man Mohan Singh

My experiences with MHV has been great! The I recently applied for a Home Equity loan. The service was wonderful! Everyone that handle my loan was courteous, everything was explained no matter how many question I asked.

Anna Wilson

Frequently Asked Questions


*Closing costs paid by the Credit Union may be recaptured if loan is closed/terminated within the first three years on loan amounts up to $175,000. For example: 60 monthly payments of $18.70 per $1,000 borrowed at 4.625%. Payment example does not include amounts for taxes and insurance premiums. Actual payment obligation may be greater.