Texas Home Equity Loans
If you are ready to make improvements to your home, pay college tuition, take a dream vacation, or pay off high interest rate credit cards, we have great home equity loan options for you. A Texas home equity loan is a great way to put your equity to work for you. You can borrow up to 80% of the of your home’s value, minus what you may owe on your first mortgage. You may even want to consider refinancing your first mortgage at the same time.
Texas Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit (HELOC) can be used for all the same reasons as a Home Equity Loan but it offers flexibility. It is an interest only line of credit that you can access during a 5 year draw period and then it transitions to a fully amortizing loan. The HELOC is a variable rate loan. This is a product that you should consider if your borrowing needs may vary over the next few years, it allows you increase or decrease your loan balance to fit your needs.
Home Improvement Loans
If you are doing home improvements and using a contractor, you may be able to borrow more with a home improvement loan. EECU has created a Home improvement loan program that allows you to borrow up to 95% of your home's value when completing improvements on your home. If you've never applied for a home improvement loan because you didn't think you had enough equity, then this may be the loan for you. We offer fixed low interest rates and low or no fees on a home improvement loan.
Is your current rate a little too high? Is the term not fitting your current needs? We have the ability to refinance your current home loan into a program that works better for you. We have fixed rate loans for terms from 5 to 30 years.
Purchasing a Home
If you are looking to buy a new home EECU offers various options to assist you. Please call (817)882-0181 or click Here to apply for a loan for a purchase or refinance.