Tap Your Home’s Equity

If credit card payments are eating up your disposable income each month, or if you need cash to remodel your kitchen, buy a new car, take a vacation, pay off debt or anything else, a home equity loan or home equity line of credit (HELOC) might be your best bet.

These loans let you borrow money using the equity in your home as collateral.
Unlike almost any other consumer loan type, the interest on a home equity loan or HELOC of $100,000 or less is likely to be tax-deductible ($50,000 if married filing separately).

Home Equity Loan With a home equity loan, you borrow a lump sum of money repayable over a fixed term, usually five to 15 years, giving you the security of a locked-in rate and a consistent monthly payment. You may qualify for a Home Equity Loan for as low as 5.75% Fixed APR/WAC*. » Apply Online

Home Equity Line of Credit A HELOC is much like a credit card or any other type of open-ended credit. You can borrow money as needed, up to the credit limit your lender assigns, access your loan using our HELOC Gold MasterCard, or by making a transfer into your checking account. A HELOC is a variable-rate loan, so your monthly payments will change based on your outstanding balance and fluctuations in the rate. HELOCs are not available to Texas homeowners. You may qualify for a Home Equity Line of Credit for as low as 5.625% Variable APR/WAC**. No closing costs unless an appraisal is needed. Start Renovating Today! Call our Mortgage Department (800) 897-6991 or Apply Online.

You’ll find all the information you need about Home Equity loans, including an application form, at our Home Loan Center.


*Annual Percentage Rate/With Approved Credit. No closing costs unless an appraisal is needed. Up to 90% LTV, 60 month term. 5.75% APR available with 60 month term. Rate dependent upon term and LTV. Minimum loan = $5,000. 60 monthly payments of $19.22 per $1,000 borrowed. Adequate property insurance must be maintained. For Texas homeowners, the minimum loan is $10,000 and the maximum LTV is 80%.  66 Federal Credit Union and Divisions does business in accordance with Federal Fair Housing and the Equal Opportunity Credit Act. Consult your tax advisor to see if your interest is eligible for tax deduction.

**Annual Percentage Rate/With Approved Credit. This is a variable rate which may change quarterly. $5,000 minimum line of credit. 5.625% APR applies to credit lines of up to 80% loan to value (LTV); a rate of 6.625% APR is available for 80% LTV and over. The maximum annual percentage rate that may be imposed on this variable-rate plan is 18%. The cost of an appraisal may range from $325 to $425. A minimum balance 66 Federal savings account is required to maintain membership in the Credit Union. Consult your tax advisor to see if your interest is eligible for tax deduction. HELOCs are not available to Texas homeowners.