Home Equity Loans & HELOCs

Use your home's equity

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Accessing your home's equity

“Home equity” is the value of your home, minus how much you owe on your first mortgage. There are lots of reasons people choose to access their home’s equity. From paying for home improvement projects to other major life expenses, TFCU offers several loan options:

  • Home Equity Line of Credit (HELOC).
  • Home Equity Loan.
  • Investment Property Home Equity Loan.

Not sure which one is right for you? Schedule a time to meet with a friendly TFCU home loan expert.

Home Equity Line of Credit (HELOC)

A home equity line of credit (HELOC) gives you the convenience of a credit line (like a credit card) but with generally better rates. A HELOC is perfect for flexible borrowing needs–for today or years to come:

  • Borrow up to 100% of your home’s value, minus how much you owe on your first mortgage.
  • Apply once and you can access money as you need it, when you need it.
  • Variable interest rate.
  • Expect closing costs and a $450 processing fee.
    Check interest rates and closing cost fees in TFCU’s online Home Equity Center.

Check interest rates and closing cost fees in TFCU’s online Home Equity Center.

Fixed-Rate Home Equity Loan

A home equity loan is a fixed-rate home loan with set payments and terms. This loan is a great choice if you know exactly how much you’d like to borrow at one time:

  • Borrow up to 100% of your home’s value, minus how much you owe on your first mortgage.
  • Fixed rate and terms of 10-, 15-, 20- and 30-years.
  • Expect closing costs and a $450 processing fee.

Check interest rates and closing cost fees in TFCU’s online Home Equity Center.

Investment Property Home Equity Loan

If you have an existing investment property that is a single-family rental, then a TFCU home equity loan is an option for you. It’s a great way to access cash to make investments in your property:

  • Borrow up to 70% of your investment property’s value, minus how much you owe on your first mortgage.
  • Fixed rate and terms.
  • Expect closing costs and a $450 processing fee.

Check interest rates and closing cost fees in TFCU’s online Home Equity Center.

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