Fixed Rate Second Mortgages
Our fixed rate second mortgage financing can be a great choice for debt consolidation or other borrowing needs.
- The rate is lower for a collateralized loan than an unsecured loan
- In most cases, interest paid on second mortgages is tax-deductible*
- Your owner-occupied residence serves as the collateral on the loan
- There are minimal closing costs, which can often be paid for with the proceeds from the loan.
* Please consult your tax advisor or the IRS to confirm the tax deductibility of interest paid on any mortgage-secured loan.
Our Members make the difference.
Member Since 2004
"What has the CU done for and meant to me? How about warmth and security? When I joined I felt, and still feel, that the diversity of the neighborhood is well represented both by the CU's members and its employees. As welcoming as the staff is, I had no problem following when the building on Gregory St became its new home. The loyalty I felt to Genesee Co-op FCU at that time has been validated by an incident in May 2009. One of my checks was presented to the teller, unsigned, for a large amount. When that individual came back with same check supposedly signed by me, the CU refused to cash it, because the staff recognized the signature as forged. I got to see how the sense of kinship the CU propagates, plays out in order to safeguard its members. Thank you, team."