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CNB Home Equity Solutions

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With no application fees and no closing costs2, CNB makes it easy. Our Home Equity solutions allow you to choose the type of loan and repayment structure that fits your needs and helps you reach your goals.

Home Equity Loan

  • Fixed-rate loan1
  • No closing costs2
  • Term options
  • Consistent monthly payment

CNB FlexEquity

  • Variable-rate line of credit
  • No closing costs2
  • Manage your rate options
  • Convert your balance into one or more
    fixed-rate loans later3

Home Equity Loan

  • Fixed-rate loan1
  • No closing costs2
  • Term options
  • Consistent monthly payment

CNB FlexEquity

  • Variable-rate line of credit
  • No closing costs2
  • Manage your rate options
  • Convert your balance into one or more
    fixed-rate loans later3


CNB Home Equity benefits:

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Put the Equity in Your Home to Work

Borrow up to 85% of the equity in your home.


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No Closing Costs

The bank pays all closing costs (unless the account is paid off and closed prior to 3 years).



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Local Decision Making

All loans are decisioned and processed locally.


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Convenient Access to Funds

FlexEquity Line of Credit allows convenient access to funds as you need it, plus a replenished line as repayments are made.

 


 

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1Closed-end loans with terms in excess of 10 years include a call feature and the rate and payment may increase at the time of modification. 2If the loan is terminated for any reason prior to 3 years from the date of closing, borrower will be required to repay third-party closing costs incurred by the bank to open your loan. These costs can range between $319.14 and $2,367.64. 3A conversion fee of $49 may be assessed for each sub-loan established. Sub-loans require a minimum loan amount of $5,000. Fixed rates on sub-loans will be quoted at the time of request and will not increase during the term of the sub-loan. Maximum number of active sub-loans is five. Maximum term on fixed sub-loans is 10 years but not to exceed maturity date of FlexEquity. All loans are subject to credit approval.

SAFE Act Compliance & Mortgage Loan Originator Information
Canandaigua National Bank & Trust and CNB Mortgage Company comply with all registration requirements for Mortgage Loan Originators (MLOs) in compliance with the federal Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). If you would like additional information related to one of our MLOs, please use the following link to access the Nationwide Mortgage Licensing System and Registry:  http://www.nmlsconsumeraccess.org/

Title insurance may be required for loans greater than $250,000 or where there is no institutional first mortgage. If the loan is terminated for any reason prior to 3 years from the date of closing, borrower will be required to repay third-party closing costs incurred by the bank to open your loan. These costs can range between $565.48 and $2,365.48. Consult your tax advisor regarding interest deductibility. All loans are subject to credit approval.