Put the equity in your home to work for you. CNB Home Equity solutions allow you to use the funds in a way that meets your unique needs! With no closing costs1, you can choose the type of loan and repayment structure that’s right for you.
Enjoy convenient access to funds as you need it for maximum flexibility.
- Variable-rate line of credit
- No closing costs1
- Manage your rate options
- Convert your balance into one or more
fixed-rate loans later2
Enjoy the structure of a fixed loan with consistent monthly payments.
- Fixed-rate loan1
- No closing costs2
- Term options
- Consistent monthly payment
Enjoy convenient access to funds as you need it for maximum flexibility.
- Variable-rate line of credit
- No closing costs1
- Manage your rate options
- Convert your balance into one or more
fixed-rate loans later2
Enjoy the structure of a fixed loan with consistent monthly payments.
- Fixed-rate loan3
- No closing costs1
- Term options
- Consistent monthly payment
Put the Equity in Your Home to Work
Borrow up to 85% of the equity in your home.
No Closing Costs
The bank pays all closing costs (unless the account is paid off and closed prior to 3 years).
Local Decision Making
All loans are decisioned and processed locally.
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.
1If 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 $244.50 and $3022.64. 2A 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 fixed 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. 3Closed-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.
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 $244.50 and $3,022.64. Consult your tax advisor regarding interest deductibility. All loans are subject to credit approval.