Home Equity Loans & Credit Lines

Home Equity Loans & Credit Lines

Home Equity Loans & Credit Lines

JSC Federal Credit Union's home equity lending options allow you to unlock your home’s equity when preparing for large expenses. Whether you’re making home improvements, paying college tuition, or purchasing a new car, a JSC FCU Home Equity Loan or a Home Equity Line of Credit (HELOC) can help you finance larger purchases.

Home Equity Loan vs. HELOC

Home Equity Loans1 are fixed lump sums, secured by your home. Like other loan options, you repay the loan monthly, over a fixed term. Your loan amount can be up to 80% of your home’s appraised value and there are multiple terms for the loan, so you can find the right payment for your budget.

A Home Equity Line of Credit2 (HELOC) is a revolving line of credit that works much like a credit card. You can borrow as much as you need, whenever you need it, if you do not exceed your credit limit. Much like your credit cards, you only need to pay back what you borrow and not the entirety of the amount available. Our HELOCs offer a line of credit from $20,000 to $200,000 depending on the available equity of your home.

No matter which solution fits your situation, our Home Equity & HELOC specialists can guide you through the entire process so that you feel confident in the process and your financial future.

 

 

 

 

*1Home Equity Loans subject to credit approval. Certain credit criteria and restrictions apply. Qualifying rates and terms are based on a combination of your earned credit score, the term you select, collateral, down payments, loan-to-value (LTV) position and other normal lending criteria. JSC FCU home equity loans are available only in Texas. Maximum 80% CLTV, meaning loan not to exceed 80% Loan to Value less any existing liens. Other third-party fees apply and are the responsibility of the borrower; these fee costs may include appraisal, flood certification, title search and filing fees. Minimum loan amount is $20,000 and is available on single family, owner occupied primary residences in Texas. Terms from 5 to 15 years for 1st Lien, 5 to 10 years for 2nd Lien. Contact your tax advisor regarding the possible deductibility of interest. Contact a JSC FCU representative for complete details and current rates.

*2HELOC Loans subject to credit approval. Certain credit criteria and restrictions apply. Qualifying rates may be based on a combination of your credit score, the term you select, and other normal lending criteria. Rate is adjustable and based on Wall street journal prime index. Loan not to exceed 50% Loan to Value less any existing liens. Other third-party fees apply, these costs may include appraisal, flood certification, title search and filing fees. Minimum loan amount is $20,000 and is available on single family, owner occupied primary residences in Texas. Maximum draw period is 5 years. APR cannot increase more than 5.0% above the initial rate or the maximum permitted by law, whichever is less, for the life of the loan.

*These offers are subject to membership eligibility. Eligibility depends on where you live, work, worship or attend school in the Houston Bay Area. You may join JSC FCU if you are an employee or member of one of the 2.000+ companies, organizations, churches, homeowners associations, or areas of community service in our field of membership. You may also be eligible to join if you are the immediate family member or live in the same household as a current JSC FCU member.

 

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