TDECU Home Equity Loan
Tap into your home’s equity to pay for renovations or other major expenses
We are ready for you!
Start the approval process online, or reach out to us in one of the following ways:
- Download our Mortgage Simplified app.
- Give us a call - (877) 774-2657.
- Schedule an appointment.
- Message us through our secure online form.
- Find an Advisor
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
low as
7.00%
APR1
Which home equity loan is right for you?
Conforming 30-Year Fixed*First Lien Only
This loan type is the most common, with a fixed interest rate and payments spread over 30 years. Even if rates rise, your payment will remain the same.
7.25%
Interest Rate
7.30%
APR
30 year
Term
HELOC 1st Lien
Tap into your home’s equity with a flexible HELOC. Borrow what you need, when you need it, for home projects, debt consolidation, education expenses, and more.
7.75%
Interest Rate
7.79%
APR
30 year
Term
Streamline Home Equity Loan*First Lien Only
Our signature home equity loan features competitive rates, flexible closing arrangements, and quick turnaround time, with no appraisal necessary.
8.00%
Interest Rate
8.03%
APR
30 year
Term
Learn more about other home equity loan options
Conforming 15-Year Fixed
AA 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.
Interest rate
7.00%
APR
7.08%
Amount
Up to 80% value
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
7.13%
APR
7.20%
Amount
Up to 80% value
HELOC 2nd Lien
Tap into your home’s equity with a flexible HELOC. Borrow what you need, when you need it, for home projects, debt consolidation, education expenses, and more.
Interest rate
8.25%
APR
8.30%
Amount
Up to $249,999
Second Home 10/1 ARM
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.
Interest rate
7.63%
APR
7.73%
Amount
Starting at $85,000
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
7.63%
APR
7.73%
Amount
Starting at $85,000
What can you use a home equity loan for?
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
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.
Section 50(a)(6)(B) of the Texas Constitution allows a loan amount up to eighty percent of the market value of the homestead.
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?
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:
- Start the application - Download our Mortgage Simplified app.
- Give us a call - (877) 774-2657.
- Schedule an appointment.
- Message us through our secure online form.
1 APR = Annual Percentage Rate
Rates, APRs, and terms are subject to change without notice and are subject to credit approval, income and asset verification, and property eligibility requirements. Property insurance is required. Flood insurance may also be required depending on the location of the property. Additional fees, closing costs, and escrow requirements may apply.
Rate assumptions: Advertised rates assume a $350,000 loan amount, 80% CLTV, owner-occupied single-family residence, 740+ FICO score, and a 30-year conventional fixed-rate cash-out refinance. Actual rate, APR, payment, and terms may vary based on credit qualifications and loan characteristics (including loan amount, loan-to-value, product, and occupancy).
Repayment example: A $350,000 loan with a 30-year fixed term at 7.13% interest rate and 7.19% APR has a monthly principal and interest payment of $2,359.54. Taxes, insurance, and escrow amounts are not included; actual payment obligations will be higher.
Adjustable-rate mortgage (ARM) disclosure: ARM rates and payments may increase after the initial fixed-rate period.
Texas home equity products: Home equity loans and lines of credit are available only on eligible Texas homesteads and are subject to credit approval. Total debt secured by a homestead may not exceed 80% of the property's fair market value. HELOC APRs are variable and may increase or decrease over time. Texas home equity loans are subject to a 12-day waiting period and a three-day right of rescission.
Consult your tax advisor regarding the deductibility of interest.
Equal Housing Lender.
For complete loan terms and eligibility requirements, contact TDECU Mortgage at (877) 774-2657.
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.