Compare Home Equity Options

You've worked hard for your home. You're now in a position to tap into its equity and do more great things in life.

Stand On The Solid Foundation You Built

When you access your home's equity, you can take out a fixed amount of money or open a line of credit to draw on whenever you need it.

Home Equity Line Of Credit

Take on some improvement projects, pay for education expenses or plan for memorable moments, with either a fixed or a variable rate.

With a fixed rate, lock in your rate for the life of your credit line
Pay interest only on the funds you've actually used
Credit limit is tied to the equity you have in your home

HELOCs

Home Equity Loan

Get a low-cost loan that can help you pay for big projects, consolidate debt or achieve other goals.

Receive your funds all at once
Low, fixed interest rates
Flexible repayment plans

HELs

Get a Texas Home Equity Loan or HELOC consultation.

*Fixed rate home equity line of credit: The loan offers draw periods of 5 years or 10 years, followed by a repayment period. During the draw period, interest-only payments are required. The loan will be re-amortized at the start of the repayment period. If you make only the required interest payments during the draw period, the principal balance of the loan will not decrease.

Variable rate home equity line of credit: Credit Union of Texas offers a variable Annual Percentage Rate (APR) based on the Prime Rate as published in the Money Rates section of The Wall Street Journal (the “Index”) plus a margin based on creditworthiness and credit limit. As of September 19, 2024, the index value is 8.00%. The floor APR will be 3.00%. An increase in the Index will result in an increase in the periodic rate which, in turn, will result in higher payments. In no event, will the APR increase by more than 18% or the maximum rate allowed by applicable law. This is a limited time offer and is subject to change at any time without notice.

The minimum advance during the draw period is $4,000. Property insurance is required, including flood insurance where applicable. Texas homestead properties are limited to 80% combined loan to fair market value for home equity financing. All loans are subject to credit approval and Credit Union of Texas lending policies. Other restrictions may apply. In Texas, there is a 12-day cooling off period on all HELOCs. There is also a three-day right of rescission after closing before the funds may be disbursed. Actual time of funding closing may differ depending on appraisal, title and other underwriting requirements. The account is subject to application, credit qualification, and income verification; additional evaluation and verification criteria may apply. CUTX home loan programs are only available in Texas. Borrower will be responsible for certain closing costs, as required, which may include, but not limited to, appraisal and title policy fees. Other restrictions, terms and conditions may apply. Credit Union of Texas NMLS #576560. Membership required.