Your daughter turned into a fish this summer. You can thank your home.

Making your home work for you.

Whether you’re updating your home, paying down debt or finally taking that trip to Italy, you can put your home’s equity to work for you and your family. Interest rates are usually lower than that of an unsecured loan and interest may be tax deductible*.
 

Home Equity Loans

  • Full loan balance is disbursed at signing, similar to a car loan
  • Low, fixed rates
  • Borrow up to 80% of your home’s fair market value1
  • Terms up to 20 years
  • Save with a .25% rate discount with automatic payment2
     

Home Equity Line of Credit

  • Convenient access to your money when you need it
  • Low, competitive rates
  • 5-year draw period3 and 15-year repayment period
  • Withdraw as little as $4,000 at a time
     

Home Improvement Loans

Another option if you plan to use the funds specifically for home repairs or remodeling.

  • Full loan balance is disbursed at signing
  • Borrow up to 95% of the current tax-assessed value of your home4
  • Minimum loan amount is $5,000
  • Save with a .25% rate discount with automatic payment2
  • Funds must be used for improvements made on home by licensed contractor
     

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).

 

 

 

* Consult a tax advisor regarding the deductibility of interest.
1 All liens not to exceed 80% of your home's fair market value
2 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.
3 Required payment of interest only each month
4 Less the balances of outstanding liens

 

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

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