Home Equity Loans

The right home equity loan can help finance your goals.  Turn the value of your home into cash for remodeling, education, taxes, debt consolidation and more. Revolving lines of credit, otherwise known as HELOCs, are excellent for recurring costs. Talk to us about your goals and we'll provide you with the information to help you make an informed decision.

  • Loans available on properties nationwide**
  • No cost loans available***
  • No application fees
  • Loans available on owner occupied properties
  • Variable rates on lines of credit adjust only semiannually for up to 15 years
  • Unlimited advances on your Home Equity Line in minimum $100 increments.
  • Loans up to 100% of your home's value minus any first mortgage balance

Generally up to $100,000 paid in interest on equity loans is tax deductible. Check with your tax advisor for specific information. Life's a journey, do it with TFCU

 

Second Trust

A fixed-rate second trust loan is a better option for large, one-time expenses.  Enjoy a fixed rate for the life of your loan with payment amounts that remain the same. 

  • Loans up to 100% of your home's value minus any first mortgage balance
  • No cost loans available***
  • No application fees
  • Loans available on owner occupied properties
  • Fixed rates and terms from 5 to 15 years

Generally up to $100,000 paid in interest on equity loans is tax deductible. Check with your tax advisor for specific information.




Home Equity (Last Modified: Oct 10, 2018)

Home Equity Rates
The property securing the loan must
be your principal residence.
TERMSAPR
As Low As+
MAX LTVFEES
HOME EQUITY LINE OF CREDIT
Minimum Limit $25,000
Maximum Limit $100,000
Draw Period-15 years
Repayment Period-15 years
4.74%
variable rate
75%Fees range $599-2,000*
HIGH LOAN TO VALUE HOME EQUITY LINE OF CREDIT
Minimum Limit $25,000
Maximum Limit $250,000
Draw Period-15 years
Repayment Period-15 years
5.24%
variable rate
Up to
95%**
Fees range $599-$2,000*
No Cost Home Equity Line of Credit
Minimum Limit $25,000
Maximum Limit $100,000
Draw Period-15 years
Repayment Period-15 years
5.49%
variable rate
80%Closing Cost Paid by TFCU**

Second Trust (Last Modified: Oct 10, 2018)

Second Trust Fixed Rates
The property securing the loan must be your principal residence.
TERMSAPR
As Low As+
MAX LTVFEES
Second Trust
Combined Loan To Value (CLTV)
Minimum Limit $25,000
Maximum Limit $100,000
5 years
10 years
15 years
20 years
10/30 Balloon

4.00%
4.49%
4.99%
5.24%
5.49%
Up to 80%Fees range $599-$2,000*
High Combined Loan To
Value (HCLTV) Second Trust
Minimum Limit $25,000
Maximum Limit $250,000
5 years
10 years
15 years
20 years
10/30 Balloon
4.49%
4.99%
5.49%
5.74%
5.99%
80.01% – 90%Fees range $599-$2,000*
High Combined Loan To
Value (HCLTV) Second Trust
Minimum Limit $25,000
Maximum Limit $250,000
5 years
10 years
15 years
20 years
10/30 Balloon

5.49%
5.99%
6.49%
6.74%
6.74%
90.01% - 95%Fees range $599-$2,000*
No Cost Fixed Rate
Combined Loan To Value (CLTV)
Minimum Limit $25,000
Maximum Limit $100,000
5 years
10 years
15 years
20 years
4.99%
5.49%
5.74%
6.24%
80%Closing Cost Paid by TFCU**

+ At no time can the discounted loan rate be lower than the Credit Union’s designated floor rate (4.00%). Annual Percentage Rate (APR) may be higher based on past and present credit performance.

* Depending on the loan amount, property location and method of valuation. Additional fees may include title search/insurance, recording fee/taxes, attorneys and appraisal fees. TFCU reserves the right to modify, add or terminate loan programs without notice. Loan-To-Value (LTV) based on the current appraisal for a loan amount up to $250,000. Some restrictions apply for the maximum LTV of 95%, not all members/property will qualify. Home Equity Lines of Credit are available in all states with the exception of Hawaii and U.S. territories (Guam, Puerto Rico, Northern Marina Islands, Virgin Islands and Samoa) Texas capped at 80% Combined Loan-To-Value (LTV).

** Lender will not pay for expense associated with taxes, liens (to include lien releases) or misc. settlement expense. Program includes 24-month early payoff restrictions. These terms are subject to change without notice. Your rate will be locked-in at the time of credit approval.

Late Fees: If your payment is more than 15 days late, we may charge you 5% of the payment or $25.00 whichever is greater. Fees may vary depending on the location of the property.

Collection Costs: You promise to pay all costs of collecting the amount you owe under any agreement signed by Transportation Federal Credit Union including court costs and reasonable attorney fees. TFCU will not pay expenses associated with taxes, liens or miscellaneous settlement expenses. Program includes 24-month early payoff restrictions.


1st MORTGAGES ARE ALSO AVAILABLE. ALL RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE.