Home Equity Line of Credit
Look What Your Home Can Do!
Our home equity lines of credit -- or HELOCs -- are open-end loans based on the value of your home minus your mortgage balance. Members can use these funds for home improvements, large expenses, college tuition, renovations and other needs.
To apply, visit our Online Mortgage Center (Click Here) and select "Home Equity" under Quick Quote (see sample screen below). You will be directed to our easy-to-complete application and will get a quick decision on your loan.
If you prefer, you may speak with a loan officer to discuss your needs. Simply call 800-622-2535 (Mon-Fri, 8 AM-4:30 PM Central Time) and ask the friendly TTCU member service representative to connect you with a loan officer. Or, if you like, visit any TTCU branch office to learn more about how a home equity line of credit might be the financial solution for your needs. Our loan officers look forward to assisting you.
Note: The interest paid on a HELOC may be deductible under Federal income tax laws; contact your tax consultant for more information on the types of purchases that qualify.
*2.99% Introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit (HELOCs) with an 80% loan-to-value (LTV) or less. The Introductory Interest Rate will be fixed at 2.99% during the 12-month Introductory Period. A higher introductory rate will apply for an LTV above 80%. After the 12-month introductory period: the APR is variable and is based upon an index plus a margin. This introductory APR is based on evaluation of applicant’s credit qualifications and associated LTV ratio. Available on new HELOCs only. Your actual APR may vary. Upon expiration of the intro rate, all balances will accrue interest at the variable APR in effect for your account. The variable APR, as low as 4.25% APR after the introductory period, is based on the Prime Rate as disclosed in the Wall Street Journal plus or minus a margin based on your credit history. The variable rate is subject to change each quarter thereafter as stipulated by your original terms and conditions. Maximum APR is 18%. All rates and offers are current as of April 17, 2017 and subject to change without notice. Other conditions may apply. Advance amounts must be within your existing credit limit. You may not pay off or make payment to other TTCU loans, credit cards or accounts with these proceeds. Membership with The Tennessee Credit Union is required to obtain a loan.