Home Equity Line of Credit

Home Equity Line of Credit

When opportunity— or necessity —calls, your home’s equity can help you answer. Whether you’re looking to consolidate debt, make meaningful upgrades around the house, or pay for college expenses, a Home Equity Line of Credit (HELOC) keeps your plans moving forward.

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HELOC Features:

• Variable rate adjusts quarterly based off Wall Street Journal Prime rate¹
• 5 year draw period
• 10 year repayment period:  payment can adjust quarterly dependent on rate adjustment, outstanding balance, and maturity date
• Borrow against up to 80% of your home's value (minus any existing mortgage loan balance)
• No prepayment penalty
• No closing costs for loans of less than $250,000²
• Interest may be tax-deductible.³‍
• The property used for collateral must be a single-family, owner-occupied homestead property.

Resource Links for Texas Home Equity Loans

• Home Equity Application Package and FAQs
• Home Equity Loan Checklist
• FAQs for On-Time Closing
• HUD's Settlement Cost Booklet

Questions or Comments about your Home Equity or Home Improvement Loan?

If you have questions or concerns about your existing home equity or home improvement loan, or if you believe there may have been a transaction error made on your home equity or home improvement loan account, please fill out, sign, and return a Home Equity/Home Improvement Loan Error/Information Request Form.

Payoff Request for Texas Home Equity Loan?

If you would like to request a payoff statement for your home equity or home improvement loan, please fill out, sign and return a Payoff Request Form.

Home Mortgage Disclosure Act

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