Home Equity Loans
Do you want to take advantage of the equity that you've built in your home? Maybe you've been in your home for years, maybe the property value has increased, or maybe you made a down payment when you purchased. Home Equity Loans are simply secured by the equity in your home.
Use the following formula to determine the equity available in your home:
Home Equity = Your Home's Appraised Value MINUS Your Mortgage Balance MINUS Any Home Improvement Loans That Use Your Home As Collateral |
Simply give us a call at 1-866-OUR-HFCU today or complete a quick online information request form!
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| Why choose an HFCU Home Equity Loan? |
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Home Equity Loans:
- (in Texas) Loan amount can be to 80% of appraised value (less all liens) of owner-occupied property, located in Texas.
- (in South Carolina) Loan amount can be up to the amount of equity a member has in his/her home.
- Provides a good source of funds for virtually any reason. Your home equity can be collateral for loans such as a new or used vehicle, college education costs, bill consolidation, not to mention home repairs and renovations.
- Interest paid may be tax deductible under certain circumstances.
(Check with your individual tax attorney or CPA.)
- Adjustable rate with limits. 1% over Wall Street Prime. Subject to change quarterly.
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