Skip Navigation
Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view, click here to download Adobe® Acrobat Reader.

Digital Banking

Couple hugging and smiling

home equity

you've shown your home a lot of love. now let it give a little back.

We recognize that our customers have big dreams. Utilizing the equity in your home may be the solution to make these dreams a reality. A Five Star Bank Home Equity Loan or Line of Credit can help you borrow against the equity in your home for things like:

  • building an addition
  • updating the kitchen or bath
  • paying for your child’s college tuition
  • purchasing a car
  • consolidating high-interest credit card debt

providing you with options and special rates.

introductory rate fixed for 6-months 7.25% APR. See disclosures for more details. rates as low as 8.50% APR after introductory period. See disclosures for more details.
no closing costs. See disclosures for more details.
1All loans are subject to credit approval, income verification, appraisal on subject property and program guidelines. The introductory rate is set at loan approval commitment based on Prime - 1.25%. It is then fixed at that rate for the first six billing cycles and is subject to change on the first day of the seventh billing cycle after closing (“Introductory Period”). After the Introductory Period the Annual Percentage Rate (APR) will be subject to change each billing cycle, however, it will never exceed 16% or fall below 0.00%. The monthly APR changes will be based on the Prime Rate as published in the Money Rate section of The Wall Street Journal plus a margin. The Prime Rate as of 07/27/23 was 8.50% and the rate shown of 7.25% is based on a $100,000 line of credit and a 85% Combined Loan to Value (CLTV). Prime may change at any time and is subject to change without notice. Other terms and rates are available and actual APR may vary based on amount of the line and CLTV. The maximum CLTV cannot exceed 90%. 2Five Star Bank will pay the associated third-party fees at the time of closing. These fees generally total between $750 and $1,500. If the loan is terminated within 36 months of closing, you will be required to reimburse Five Star Bank for these fees. Hazard, flood, and title insurance, if applicable, are required. Property must be in New York State.

Compare Products

Life is full of planned and unplanned expenses- big and small. At Five Star Bank, providing you with financing options is why we're here. A Five Star Bank Home Equity Loan or Line of Credit, or no closing cost refinance mortgage can be an affordable solution to support your expenses and include:

  • Maximum Loan-to-Value Ratio of 90% for primary residences.
  • Closing costs paid by Five Star Bank unless account is closed within its first 3 years.
  • No private mortgage insurance requirement.
Borrowers must have a minimum credit score of 680 and an appraisal of the property is required to open Five Star Bank Home Equity Loan, Home Equity Line of Credit or no-cost refinance mortgage.
Home Equity Line of Credit (HELOC)

A HELOC allows you to use the equity you have established in your home. You can withdraw funds from the line as you need during the first 15 years while making interest-only payments. After the 15-year draw period, you can no longer draw on the line, and there will be a 15-year repayment period of both principal and interest.

  • Borrow up to $300,000.
  • Receive a variable monthly interest rate and a 30-year term.
  • May be used as a first or second lien.
Home Equity Loan

A Five Star Bank Home Equity Loan enables you to use the equity you have established in your home to take out a loan with a variety of terms to choose from to fit your needs.

  • Borrow up to $300,000. 
  • Receive fixed monthly rates for 5, 10, 15 or 20 year terms.
  • Becomes a second lien on your residence.

No Closing Cost Refinance Mortgage

Refinance your current mortgage with a variety of terms that fit your needs. and have Five Star Bank pay the closing costs upfront.*

  • Borrow $726,200 on a single family unit.
  • Receive fixed monthly rates for 5, 10, 15 or 20 years terms.
  • Becomes a first lien on your residence.
*Closing costs subject to recapture if mortgage is closed within the first three years of refinancing.
additional resources to support in your decision-making.

making the process straightforward - from application to closing.

The Five Star Home Equity Experience is a combination of person-to-person and digital experiences designed to take you through the application and closing process in a seamless, smooth, and stress-free manner.
The Five Star Home Equity Experience
disclosure icon
1. Disclosure-

Your Branch Banker will review our product offering and process, asking questions to complete your application, and will provide required disclosures.

authorization icon
2. Authorization-

Our Registration Team will contact you to gain your final authorization to run your credit report and share the steps of our eSignature process.

processing icon
3. Processing-

Your loan will be assigned to a dedicated Processor who will be your main point-of-contact until closing.

underwriting icon
4. Underwriting-

After all remaining required documents are obtained, your Processor submits the file to an Underwriter for final decision.

post approval icon
5. Post-Approval-

Upon approval and after your commitment letter is issued we will work with you to get the file cleared for closing.

loan closing icon
6. Loan Closing-

Your Branch Banker will contact you to schedule the closing and obtain any final missing documents. Your Home Equity Loan or Line will fund on the 4th business day after closing.

account servicing icon
7. Account Servicing-

Your first monthly statement will be sent 3 weeks prior to your first payment due date. Home Equity Line of Credit checks will be sent 4-5 weeks after closing.


*Please note that these timeframes reflect a typical Home Equity transaction. If there is an unforeseen delay, we will reach out to you.
manage your account through Digital Banking.

Download the app

View your account activity and manage payments through the Five Star Bank Digital Banking app. The Five Star Bank Digital Banking app allows you to manage your financial well-being right from your mobile device.

supporting your financial needs

for every life stage.

Explore other solutions like personal loans and lines of credits.