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InTouch Credit Union offers Home Equity Line of Credit (HELOC)1 in all 50 states. A HELOC allows you to borrow on the equity in your home, like a home equity loan, however it operates as a variable rate line of credit secured by your residence.2
Funds can be used for debt consolidation, education, purchase of an automobile, home remodeling, vacation or almost anything you need.
Loans
Equity Line of Credit
Funds Distribution
Feature
Access to the funds
Borrowing Limits
Monthly Payment
Interest Rates
Interest Charges
Tax-deductable interest
Terms
Funds disbursed in one lump sum
Deposited in your CU account or by check to the member.
This loan, plus any other outstanding, liens may not exceed 90% (80% in Texas) of the home’s fair market value.
Monthly fixed payment amounts.
Fixed Rate.
Interest accrues on the outstanding loan amount from the day of closing.
Interest may be tax deductible.
Consult a tax advisor.
Consult a tax advisor.
5, 10 or 15 year terms with
a fixed payment amount.
a fixed payment amount.
Home Equity Loan
Home Equity Line of Credit (HELOC)
Available funds can be used as needed, but must advance a minimum of $100 ($4,000 in Texas) at a time.
In person, by phone or in writing,
Online Banking and MoneyLine.
Online Banking and MoneyLine.
This line of credit, plus any other outstanding liens, may not exceed 90% (80% in Texas) of the home’s fair market value. Additionally, Texas HELOCs are limited to 50% of the home’s appraised value.
Monthly variable payment amounts – depends on balance advanced and changes in the APR.
Variable rate (Index plus margin = APR) adjustable during its term on the 1st day of each calendar quarter.
Interest is charged only on the outstanding balance and accrues from the date of advance.
Interest may be tax-deductible. Consult a tax advisor.
5 year draw period requiring payment of interest only each month and repayment periods
of 5, 10 or 15 years.
of 5, 10 or 15 years.
Equity Loan
InTouch Credit Union offers fixed rate Home Equity loans in all 50 states.
• Competitive Rates
• Loans are limited to 80% of your home’s value in Texas and 90% in
all other states, minus existing mortgages.
all other states, minus existing mortgages.
• Terms up to 15 years.
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