HOME EQUITY LOANS
Home Equity comes in two distinct varieties! You can choose a revolving home equity line-of-credit (HELOC) or a fixed term second mortgage secured by the equity in your home.
The interest rate on a HELOC can be as low as the Prime Rate, and once established, you can borrow from your equity line anytime, for any purpose. It can be set up for 10-15 years and up to 90% of the appraised value (based on the applicant’s credit), minus the balance of the first mortgage. The rate on a HELOC is variable and is subject to change quarterly. A HELOC offers the possibility for tax deductibility of the finance charges paid for the use of the funds, but contact your tax consultant for more details about the types of purchases that qualify.
Our second mortgage program charges a low, fixed rate of interest so you know up front exactly how much you will pay back. Also, once your second mortgage is closed, you can rest assured that your low interest rate is locked in for the duration of the loan!
SPRING HOME EQUITY SPECIAL
Home Equity Lines of Credit beginning at 4.25 APR*
We pay closing costs!*
*Annual Percentage Rate (APR) is current as of 4/01/2012 and subject to credit approval. Rate is variable and subject to change quarterly. †Open a new HELOC between April 1, 2012 and May 31, 2012, draw at least $15,000, and maintain a loan balance of at least $15,000 for a minimum of 6 months and TTCU will pay the closing costs. Maximum loan amount $50,000.
Check out our loan rates
To apply in person drop by a local branch or call (800) 622-2535 to apply.