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TDECU Home Equity Loan

TDECU Home Equity Loan

Tap into your home’s equity to pay for renovations or other major expenses

Applying for your loan just got easier

Applying for your loan just got easier

Speed up the home loan process with our app, TDECU Mortgage Simplified. 

  • Start and submit your application
  • Securely scan and upload documents
  • Instant message your loan officer
  • Get updates on the go
Download TDECU App on the App Store Download TDECU app on Google Play

Convert your home equity into cash

You have worked hard to build your home's equity — now let your home work for you. You can use the equity in your home to help finance major expenses, like remodeling or renovations.

Our equity loan options use your property as collateral, features competitive rates and possible tax benefits, and is worth considering if you need to cover a big expense.

TDECU Home Equity Loans feature these benefits:

60 day

rate lock

As
low as

6.25%

APR1

$250

Rate-Match Guarantee

Which home equity loan is right for you?

 

Streamline Home Equity Loan

Our signature home equity loan features competitive rates, flexible closing arrangements, and quick turnaround time, with no appraisal necessary.

7.25%

Interest Rate

7.42%

APR

30 year

Term

 

Second Home 10/1 ARM2

An adjustable rate loan that supports the purchase of a second home. Offers a fixed rate for the first 10 years of the loan term.

7.50%

Interest Rate

7.76%

APR

30 year

Term

 

Conforming 15-Year Fixed

A fixed-rate loan with payments spread over 15 years. You pay more each month, but you build equity quickly and spend less in interest over the life of the loan.

6.25%

Interest Rate

6.38%

APR

15 year

Term

Learn more about other home equity loan options

Conforming 20-Year Fixed

Fixed interest rate and payments spread over 20 years. Even if rates rise, your payment will remain the same.

Interest rate

6.00%

APR

6.10%

Amount

Up to 80% value

Conforming 30-Year Fixed

Fixed interest rate and payments spread over 30 years. Even if rates rise, your payment will remain the same.

Interest rate

6.50%

APR

6.58%

Amount

Up to 80% value

Investment Property 10/1 ARM

An adjustable rate loan that supports the purchase of an investment property. Offers a fixed rate for the first 10 years of the loan term.

Interest rate

7.50%

APR

7.76%

Amount

Starting at $85,000

What can you use a home equity loan for?

Debt Consolidation

Debt Consolidation

Use the value of your home to consolidate and pay off other debts, and turn it into a single, manageable, lower interest payment.

Home Improvements

Home Improvements

Put the money back into your home with a home improvement or renovation project, or to finance repairs.

Milestone Events

Milestone Events

Use it for major expenses like a wedding or a college education — things that may otherwise require a high interest rate loan.

Mortgage Calculators

Want to know what your monthly payment will be or how long it will take to pay off your loan? Our calculators are here to help! Choose one from the menu on the left and enter your information for instant estimates.3

Select a calculator from the list below.

Mortgage Information
Property Information
Results
 

Home Equity Loan Frequently Asked Questions

What can I use the home equity loan for?

Home equity loans are a convenient way to finance almost anything, including home improvements, an education, or a second property. Because of the competitive interest rates and potential tax advantages of home equity loans, you can also use them to consolidate credit card debt or high interest rate loans.

How much will I qualify for?

The minimum loan amount you qualify for will depend on how much equity you have in your home. Home equity is calculated as the appraised value of your homestead, minus the amount of your mortgage balance. 

Are there any closing costs?

Yes, you should expect to pay closing costs for your home equity loan.

Can home equity loan interest be deducted?

Interest may be tax-deductible. Check with your tax advisor.

Do I have other options if I do not want to borrow against my home’s equity?

If you have a TDECU Mortgage and do not want to borrow against your equity, a Home Advantage Personal Loan might be right for you.

Does TDECU offer 2nd lien home equity loans?

At this time, TDECU does not offer “2nd Lien” Home Equity Loans. Speak with one of our mortgage loan officers today to discuss other loan options that might suit your home loan needs.

Ready to get started?

We are ready for you! Start the approval process online, or reach out to us in one of the following ways:

1APR = Annual Percentage Rate

Minimum approved loan amount is $50,000. Total debts against a homestead are limited to 80% of the fair market value. Home Equity Loans (HELs) are subject to credit approval. Rates and terms are subject to change without notice. All HELs are available only on your primary residence in Texas. Borrower will be responsible for certain closing costs, which may include title insurance, appraisal fee, and survey costs. Property insurance is required. A 12-day cooling-off period is required by Texas Law before the loan may be closed and there is a three-day right of rescission after closing before the funds may be disbursed. In some instances, interest on a HEL may be tax deductible. Check with your tax advisor for more information.

2 ARM = Adjustable Rate Mortgage. Loans subject to credit approval. Example for a 3.25% APR on a $160,000 loan will require a monthly principal and interest payment of $696.33 for 30 years. Payment does not include taxes and insurance so actual payment obligation will be greater. ARMs are variable and the rate may increase after the original fixed rate period. Certain terms and conditions may apply.

3 Our financial calculators are provided as a free service to our Members. The information supplied by these calculators is from various sources based on calculations we believe to be reliable (but are not guaranteed, explicit or implied) regarding their accuracy or applicability to your specific circumstances. All examples are hypothetical and are for illustrative purposes and are not intended to provide investment advice. TDECU does not accept any liability for loss or damage whatsoever, which may be attributable to the reliance on and use of the calculators. Use of any calculator constitutes acceptance of the terms of this agreement. TDECU recommends you find a qualified professional for advice with regard to your personal finance issues.

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