Fixed Rate Home Equity Loan

There’s no place like home with a Home Equity Loan from Meridia.

Make Your Home Even Cozier With a Home Equity Loan

A Home Equity Loan is a fixed-rate loan that is secured by your primary residence. It is sometimes called a second mortgage, as it works the same way as your primary, or first, mortgage. It enables you to use your equity through a single payout. Finance medical expenses, home improvements, pay college tuition, take that dream vacation, or consolidate high-interest credit card or other loan debt with a Fixed Rate Home Equity Loan from Meridia.

There’s no place like home, so make it even better with a Home Equity Loan. A Home Equity Loan is a low-interest, fixed-rate loan used to secure your primary residence as collateral. You can pay the loan off with terms up to 15 years of fixed monthly payments. The loan is fully amortized, which means there are no “exotic” loan features like interest-only payments or negative amortization. Consult a tax advisor to see if the interest paid may be tax-deductible. The closing cost contribution depends on total amount of your loan. Go Beyond the norm with an affordable Home Equity Loan from Meridia. Enjoy these added benefits:


  • Fixed-rate for the life of your loan.
  • Fully amortized: no tricks.
  • Possible tax deduction (consult your tax advisor).
  • Funds can be used for any purpose.


Home Equity Loan rates change daily. Call (716) 648-4411 to talk with a friendly Financial Services Representative.

TERMSAPR (First Lien Position)APR (Second Lien Position)
up to 84 months4.89%5.39%
120 months5.09%5.59%
180 months5.39% 5.89%

APR = Annual Percentage Rate. This rate may change weekly. Your loan is secured by a mortgage on your home and property insurance is required. There are no annual fees. Rates start at 4.44% APR for loan terms up to 84 months in the first lien position. The payments do not include amounts for taxes and insurance premiums, if applicable, and the actual payment obligation will be greater.

Updated September 27, 2022


The accuracy of our calculators and their applicability to your circumstances are not guaranteed. You should consult with a qualified professional regarding your particular circumstances.


Closing Costs
(determined by amount of loan)

As Low as $749
Loan Late Charge
Returned Loan Payment Check$20 each
Other fees may apply. Refer to our full fee schedule for further information.

Frequently Asked Questions

What is the difference between a Home Equity Loan and a Home Equity Line of Credit?

A Home Equity Loan is a fixed-rate loan that is secured by your home. It is sometimes called a second mortgage, as it works the same way as your primary, or first, mortgage. It enables you to use a portion of your equity through a single payout.

A Home Equity Line of Credit is a variable-rate form of revolving credit where the equity in your home serves as collateral. A Home Equity line allows you to draw money out when you need it, in smaller portions, without the need to qualify with every advance.

How do people use their Home Equity Loan funds?

Generally, people use a Home Equity Loan because it’s a convenient way to pay for major items such as, home improvements and repairs, education costs, medical bills, emergency expenses, automobiles, even weddings. These expenses typically require more money than day-to-day expenses.

Since the Home Equity Loan uses the equity in my home as collateral, what happens if I sell my home? Will I have to pay off the balance right away?

Yes, you will need to pay off your Home Equity balance at the time you close the sale of your home. A satisfaction of your mortgage will be sent to your attorney, to be used at the closing of the sale.

What is the term of my Home Equity Loan?

The Home Equity Loan can be available to you for as long as 15 years.

How long does the process take?

Due to the regulations we need to comply with, this process does take longer than a personal loan, but usually less time than a First Mortgage.

Is there a prepayment penalty?

No! If you pay the loan off early, not only is there no penalty, you save on the overall interest cost.

How much can I finance?

You can finance up to 100% of the appraised value less any existing liens. Meridia only accepts a first or second lien position on your primary residence.

Let Your Home’s Equity Work for You

Finance home improvements, upgrade appliances, pay for college tuition, take a much-needed vacation, or consolidate high-interest debt with a Home Equity Loan from Meridia.