You have a vision. We have a way. Texans Credit Union Home Equity Lending.

What's your vision?

Whether you're updating your home or consolidating high-interest rate debit, the possibilities are nearly endless with home equity lending from Texans Credit Union. Your home is your most valuable asset—why not make it work for you?
 

 
Home Equity Loan*
Home Equity Line of Credit*
Home Improvement Loan*
Usage: No restrictions on what you can use the funds for (consumer use purposes only6) No restrictions on what you can use the funds for (consumer use purposes only6) Must be used to make improvements to your home by licensed contractor
Samples Uses: Pay off existing higher-rate mortgage1, bathroom remodel, consolidation of other debt... College tuition, home improvements, vacation and wedding expenses... Home improvements by licensed contractor
Funds: Disbursed in a lump sum Disbursed as needed, during five-year draw period Disbursal method depends on amount of the loan
Interest: May be tax deductible2 and is accrued on the total loan amount May be tax deductible2 and is accrued on the total loan amount May be tax deductible2 and is accrued on the total loan amount
Borrowing Limits: Up to 80% of home's fair market value3 Up to 80% of home's fair market value3 Up to 95% of home's fair market value3
Good to Know...
  • Low, fixed rates
  • .25% rate discount with automatic payment5
  • Terms up to 20 years1
  • Low, competitive rates
  • Convenient access to your money—withdraw as little as $4,000 at a time
  • 5-year draw period4 and 15-year repayment period
  • No closing costs/fees
  • Low, fixed rates
  • .25% rate discount with automatic payment5
  • Minimum loan amount of $5,000
  • Terms up to 20 years1

 

Did you know...

you can use a home equity loan to refinance your mortgage at a lower rate and avoid expensive closing costs1?
 

Apply Now

Our Current Rates

Review our home equity application packet or home improvement application packet – featuring loan requirements and application checklists.
For HELOC applications, review the Federal Reserve's HELOC brochure upon applying.
 


Calculating Your Home’s Available Equity

Current Fair Market Value of Home $100,000
x 80%** $80,000
- Mortgage Balance $65,000
Amount Available to Borrow $15,000
   

 

 

 

    

**If figuring for home improvement loan, multiply by 95%
 

Resources

For more information on how you can make your home work for you, contact our Mortgage Lending Department at 972.348.2407 (800.323.1789).

 

 

 

*  Condominiums and mobile/manufactured homes are not eligible.
1 First-lien home equity loans are not available to purchase a new primary owner-occupied residence; owner-occupied primary residence must already be purchased. Lot size less than 10 acres. Consumer purposes only for zoned, non-agricultural properties. Loan terms up to 15 years available for first-lien home equity loans. Member may incur one-time property tax monitoring fee; no other closing costs on loans up to $150,000. Member incurs cost of full title policy on loans greater than $150,000.
2 Consult a tax advisor regarding the deductibility of interest.
3 Less the balances of outstanding liens.
4 Required payment of interest only each month.

5 Automatic payment rate discounts may not be available on certain rates and terms. Automatic payments are not available for home equity line of credit loans. Ask your loan officer for details.
6 Business purpose loan requests are not eligible for financing.

Texans CU Routing # 311987786
24-Hour Account Access Line: 972.348.2001 (800.843.6426)

About Us | Contact Us | Career Center | Disclosures | Fee Schedule

Equal Housing Lender Equal Housing Lender | This credit union is federally insured by the National Credit Union Administration © 2013 Texans Credit Union