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Home Equity Loans as low as 2.95%APR¹

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Accessing Your Most Valuable Asset

A home equity loan from the credit union is a great way to consolidate debts, send your children to school, remodel your home, take a vacation or even buy a new car! You decide how it best suits your needs.

  • Low Fees
  • Low Closing Costs
  • Expert Advice and Assistance
  • 300-month maximum term

For most families, the equity in your home is one of your biggest assets.  If you need to access cash, tapping the equity in your home is an option.

Apply for a home equity loan online, at any branch location or call (210) 442-0199.

What is Home Equity

For most families, the equity in your home is one of your biggest assets.  If you need to access cash, tapping the equity in your home is an option.

What is Home Equity?

Home Equity is the difference between your home’s market value and what you still owe on it.  For example, a home that’s worth $200,000 and has a $150,000 mortgage balance has $50,000 in equity. 

How Much Can I Borrow Against My Equity?

In Texas, you may borrow up to 80% of the value of your home.  So using the example above, you could expect to borrow up to $10,000.  Available equity which you could tap in this example was calculated as follows.  Value of your home $200,000 x 80% = $160,000 less existing loan of $150,000 = $10,000 additional equity than can be tapped.

How Do I Borrow Against My Home Equity?

You can use a Home Equity Loans to access the equity in your primary residence homestead.  It is sometimes referred to as second mortgages, because it is secured against the value of the property, just like a traditional mortgage.  A Home Equity loan can also be placed as a first mortgage against your home if you have no other mortgage owing or if you desire to refinance another mortgage owing for a lower rate or term.

As with any loan, you should consider the pros and cons of taking on debt, as well as the costs (rate and fees associated with the loan) and the affordability of the payment.  A home equity loan is a good alternative compared to other types of loans because:

  • Rates are comparable to other mortgage loan types and flexible terms are available.
  • The interest rate on home equity loans are usually lower than what you’d pay for a credit card or other unsecured loan, such as signature loans or personal lines of credit.
  • The interest you pay on a home equity loan may be tax deductible.
  • The fees (closing costs) on a home equity loan are typically lower than those associated with other types of mortgage loans.
  • Ease of qualifying can also be a factor with typically less documentation required, flexible qualifying standards, and consideration given to borrowers at all credit grades.

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