We offer a full line of Mortgage options for your purchase and refinance needs.

Purchase Money Mortgages

Let our experienced team of mortgage originators make the home buying process easier for you. Whether you are buying your first home or moving up to the home of your dreams- we have a great loan for you! 


Conventional mortgages from 5 to 30 years at a fixed rate.

Take a look at refinancing your existing mortgage with us to shorten your term, lower your rate or get cash out. We can work up a no obligation proposal for you to let you know which of our programs might benefit you.

Home Equity Line of Credit

The Home Equity Line of Credit ("HELOC") is designed for members who want the convenience of revolving credit line and think they will have a need for additional funds in the future. Since interest is charged only on the balance outstanding, this is a great way for members to manage their borrowing needs. As monthly payments are made, the credit line is replenished so credit is there when the member needs it.

Home equity loans and lines can be used for any purpose, for example: Home Improvements, Major purchases (car/boat/appliances), Tuition and Debt Consolidation

  • Funds are accessible for 15 years from the time of closing
  • Funds available by writing a check, online transfer or by stopping into a Genesee Valley FCU branch location
  • Low variable rate (based on prime rate)
  • Convenience of flexible borrowing and repayment
  • Credit line of up to 85% of the home's equity for the best rates. 100% of the home's equity is available for maximum borrowing power
  • No closing costs
  • Fast and easy approval and closing process
  • All real estate loans have a 3-day waiting period after closing and before disbursing funds by Federal Regulation


Fixed Rate Home Equity Loan

If you like the security of a fixed rate and plan on making a one-time major purchase, the fixed rate home equity loan may be right for you. With a low fixed rate of interest and convenient repayment terms, this program is designed for members who know that they will not need additional funds in the future and want their loan paid off in a set term.

  • Loan Amounts of $10,000 and greater
  • Convenient repayment terms; from 5-15 years
  • Fixed rate and payment
  • No closing costs
  • Fast and easy approval and closing process

How Much Can I Borrow?

To determine the amount of equity you can borrow against, use this simple calculation:

  1. Find the estimated value of your home (this can be your recent tax assessment, Realtor market analysis or a recent appraisal).
  2. Multiply that amount by the corresponding maximum percentage (see table).
  3. Subtract the balance of your first mortgage.
  4. The remaining amount is the maximum line/loan you can receive.
 HELOCFixed Rate
Est. Home Value $100,000 $100,000
Max Borrowing % 100% 90%
Equity Available for Loan, Less: $100,000 $90,000
First Mortgage Balance ($60,000) ($60,000)
Max Loan or Line Amount $40,000 $30,000


The APR on your home equity line of credit is variable and may increase or decrease based on the prime lending rate plus your margin. Home Equity Lines of Credit (HELOC) are subject to a lifetime ceiling of 15.75%. We will require you to sign an agreement stating that if you terminate your line of credit or loan within the first 36 months of your mortgage recording date, you must reimburse us for actual costs and fees paid in connection with opening your account. For a line of credit of $35,000, we estimated these costs to range between $750- $1,000. Property insurance and flood insurance, if applicable, are required.

All lines and loans are subject to credit approval and a properly appraisal unless otherwise noted. Terms stated are for owner-occupied residences located in New York State only. We will file a mortgage on your home. You should consult a tax adviser regarding the deductibility of interest. Contact us for rates and terms of other programs. Rates and terms are subject to change without notice.

How Do I Apply?

We can also email or fax our application to you for your convenience. Please contact one of the branches to learn more at (585)243-1500. Click here to meet the members of our lending team.

User Login