Enjoy
your just rewards. Owning a home carries with it many rewards.
One of these is equity you have built up through the years.
A Home Equity Loan from East Texas Professional Credit Union
taps into your home's value by providing you with the necessary
funds for an array of various things including:
- College
Tuition
- Home
Improvements
- New
Vehicle
- Bill
Consolidation
- Medical
Expenses
- Real
Estate
- Home
Additions
- New
Furniture
- Wedding
- Vacation
A
Home Equity Loan from ETPCU allows you to borrow money that
is secured by the equity in your home. The amount of equity
in your home is determined by taking 80% of the current
market value and subtracting any outstanding mortgage or
other liens.
Interest
rates on our Home Equity Loans are considerably lower than
those available on unsecured loans. And if you itemize deductions
on your tax returns you may be able to deduct the interest
on your Home Equity Loan.* Look at what our Home Equity
Loans have to offer:
- Loan
amounts starting at $4,000
- Borrow
up to 80% of the value of your home, minus any outstanding
mortgage balance or other liens
Example:
| Appraised
value of home |
$100,000 |
| Percentage |
x
80% |
| Percentage
of appraised value |
=
$80,000 |
| Less
balance owed on mortgage |
- $40,000 |
| Potential
credit |
$40,000 |
- No
closing costs for most loans under $60,000
-
Low, fixed rates
-
Repayment terms ranging from 5 – 20 years
For
more information, please stop by any of our six office locations.
You may also call us at (903) 323-0232 or (800) 256-5009,
extension 1232 or email us at mortgagelending@etpcu.org.
*The
credit union is not authorized to offer tax advice. Please
consult a professional tax advisor regarding the deductibility
of interest and charges on real estate loans.
Home
Loans | Home Equity Loans
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