FINANCIAL ADVICE | BUYING A HOME

The Best Loans for Texas Home Improvements & Renovations

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Use The Equity In Your Home To Fund Your Renovations

Leveraging the money you've invested in paying for your house is one of the best ways to fund home improvements. You can save thousands in interest by using a Home Equity Loan^* or HELOC to fund your renovations, versus using an unsecured loan or line of credit from your local home improvement store.

Two Home Improvement Financing Options

Home Equity Loans

Some home improvement projects are bigger than others, so having the ability to take out a lump sum to make your home remodeling dreams come true is exactly what a low interest rate Home Equity Loan allows you to do. They are also perfect for refinances and loan consolidations because they offer the lowest rates.

Home Equity Lines of Credit (HELOCs)

Instead of dealing with the high-interest credit cards, try a Home Equity Line of Credit. It has competitive rates and allows you to pull out the exact amount you need when you need it. The best thing is you only pay interest on what you borrow, making it an ideal solution for homeowners who have the flexibility to pay down the balance throughout the draw period.

Which Credit Union of Texas Home Improvement Loan Should You Get?

Now that you know that understand the options you have in using home equity to remodel your house, we can help you choose the type of home equity lending that makes the most sense for you to use for your house renovations. The legal intricacies of Texas home improvement loan rates & terms can change regularly. We can help you navigate those complexities to find a great fit when you provide us with some information about the projects you have in mind for your residence. You may want to start by watching our video about the differences between HELOC & HELOAN lending.

Calculate Your Home Equity Payment

When you're making plans of how to pay for home renovations, you'll probably find that using our financial calculators can quickly help you understand where you are heading and what will work best for you. Here are a few that you might find particularly useful:

Loan & Credit Line Tax Savings
Home Equity Line of Credit Calculator
Line of Credit Payoff

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*CUTX home loan programs are only available in Texas. All loans are subject to credit approval and Credit Union of Texas lending policies. Other restrictions may apply. A sample loan payment for a fixed equity loan based on $75,000 at 3.00% APR for 15 years is $517.94. APR = Annual Percentage Rate. The payment example does not include amounts for taxes and insurance premiums, and if applicable, the actual payment obligation will be greater. Rates, terms and conditions are subject to change at any time without notice. Texas homestead properties are limited to 80% combined loan to fair market value for home equity financing. Additionally, there is a 12-day cooling off period and a 3-day right of rescission after closing before the funds may be disbursed. Property insurance is required, including flood insurance where applicable. The approval is subject to application, credit qualification, and income verification; additional evaluation and verification criteria may apply.

NMLS #576560 Credit Union of Texas provides mortgage loans through its affiliate Texas Mortgage Lending, LLC, NMLS #1641703. Membership required.