If you already own your home and you want to borrow money against the equity you've accumulated in it, talk to us about our home equity loans. It may be the most cost efficient way for you to finance long term borrowing needs such as education, home improvements or a second home. We have fixed and variable rate loans to choose from.

Fixed Terms

Home Equity Loan
If you prefer the predictability of an installment loan, State Bank offers a fixed-rate Home Equity Loan. The interest rate is determined at the time of application and monthly payments are fixed throughout the life of the loan.

Home Equity Features:

• No closing costs*
• No application fees
• Fixed interest rate-determined at the time of application
• Loan Amounts from $25,000 to $500,000
• No pre-payment penalty
• Tax deductible-consult your tax advisor for more information
• Borrow up to 80% of the appraised value of your home less your first existing mortgage

Flexible Terms

Home Equity Credit Line
Our Revolving Line of Credit program. The Annual Percentage Rate (APR) is the Wall Street Journal's highest published prime lending rate. The rate is subject to change monthly.

Home Equity Credit Line Features:

• No closing costs*
• No application fees
• Interest rate equal to Prime minus .50%
• Credit lines from $25,000 to $500,000
• No pre-payment penalty
• Easy access to credit line- as simple as writing a special check
• Tax deductible- consult your tax advisor for more information
• Borrow up to 80% of the appraised value of your home less your first existing mortgage

Click here to see our current rates.

To request information on these or any of our consumer products, click here. We also invite you to visit one of our branches and talk to a customer service representative.

* When your loan is opened, certain fees must be paid to third parties. These fees will be paid by the Bank and not charged to you. However, you will be responsible for reimbursing the Bank for these fees if your loan is terminated, for any reason, within three (3) years. Property Insurance is required. Residence must be an owner occupied 1-4 family house located in New York State. The home equity line of credit program is subject to a $45 annual membership fee.