Home Equity Loans in New York

A home equity loan lets New York homeowners borrow a fixed lump sum against their equity while keeping their first mortgage in place. Repayment follows a set schedule, usually at a fixed rate, so you know what to expect from the first installment to the last. It suits one-time expenses with a clear price. Choose your city below to learn more and talk with a licensed loan officer about what you may qualify for.

Questions about home equity loans in New York?

Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.

Call (888) 912-6746 Apply Online Now

New York recording costs: Mortgage recording tax (state, plus local mortgage recording taxes in New York City, Yonkers and some counties), paid to the county recording office when the mortgage is recorded; real estate transfer tax on deeds/conveyances (filed with Form TP-584, or TP-584-NYC in New York City), including the additional 'mansion tax' on higher-priced residential purchases, which is paid by the buyer. Your Loan Estimate lists the taxes that apply to your loan.

Where home equity loans activity is highest in New York

County	loans originated (2024 HMDA)
Suffolk County	1,794
Monroe County	1,194
Onondaga County	1,138
Erie County	928
Nassau County	902
Orange County	861
Dutchess County	601
Oneida County	577
Westchester County	503
Ulster County	418

Start hereApply Online Now

Start your application in a few minutes. A licensed loan officer reviews it and follows up with your options.

Takes a few minutes
Reviewed by a licensed loan officer
No obligation to proceed

Prefer to talk first? Call (888) 912-6746. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.

Home Equity Loans by city in New York

Common questions

What does lien position mean for me as a borrower?

Lien position sets the order in which lenders are repaid from a sale or foreclosure. Your first mortgage is repaid first, and a home equity loan second. As a borrower, the practical effect shows up when you refinance: your second lender may need to agree to remain behind the new first mortgage through subordination. If they decline, you may need to pay off the second loan.

Why would I choose a home equity loan over a HELOC?

Predictability. A home equity loan usually has a fixed rate and a set payment from the first installment, while most HELOCs have variable rates and can see a payment jump when the draw period ends. If you know exactly how much you need and want a firm payoff date, the lump-sum loan is easier to plan around. If your costs are uncertain, a HELOC may fit better.

What does combined loan-to-value mean?

Combined loan-to-value, or CLTV, compares the total of every loan secured by your home with its appraised value. Lenders add your first mortgage balance to the requested home equity loan and check that the total stays under their ceiling. Each lender sets its own limit, and it can differ by occupancy and credit. The more equity you have, the more room you may have to borrow.

2024 Home Mortgage Disclosure Act (HMDA) data; U.S. Census Bureau Building Permits Survey 2025