Home Equity
Enjoy a 6.99% APR1 HELOC intro rate for 6 months!
Use your home equity to do all the stuff on your list. You can use HELOCs for:
- Home improvements
- Debt consolidation
- Educational expenses
- Medical expenses
Ready to get started? Find out how much equity you have in your current home with our home evaluation tool below or click here to learn more about a HELOC.
Home Equity Line of Credit (HELOC)
A HELOC is a revolving line of credit that is secured by your home. A TruWest HELOC gives you the flexibility to access the money when you need it.
- Borrow up to 90% of the value of your home, up to $500,0002
- Only pay interest on the amount you use
- Interest only payment for the first 10 years3
- Purchase money seconds – Use for purchasing a new home with a second mortgage to eliminate private mortgage insurance, up to 90% of the value of the home4
- Use to get cash out
- Variable-interest rate that adjusts with the Wall Street Journal Prime Rate
Home Equity Loan/Closed End Seconds
A home equity loan is a lump-sum, fixed-rate loan secured behind your first mortgage. It is financed with a fixed monthly payment schedule, and once it has been paid off in full, the home equity loan is closed.
- Fixed-interest rate
- Fixed monthly payment
- Borrow up to 90% of the value of your home, up to $500,0004
- Purchase money seconds – Use for purchasing a new home with a second mortgage to eliminate private mortgage insurance, up to 90% of the value of the home4
- Terms up to 30 years
1APR = Annual Percentage Rate. Promotional APR is fixed for 6 months from the line being open. On the first calendar day of the 7th month following loan closing date, APR will convert to the variable rate plan as described in the applicable loan documents. Subsequent APR may vary based on the index rate plus a margin. Index rate is based on the Prime Rate, as published in the Wall Street Journal. On [MONTH, DATE, YEAR], that index was [X.XX%]; resulting APR with a 0.00% margin is [X.XX%]. Floor rate is 4.00%. APR will never exceed 18.00%. “As low as” rate assumes excellent borrower credit history, loan amount of $20,000 or more, and 80% or less Loan-to-Value. Alternative rates and terms are available. Actual rates and APRs dependent on credit history, type of product, loan term and loan to value (LTV). Must qualify as a TruWest member with a minimum $5 membership deposit and continuing balance. All loans are subject to application, approval and product/program terms and conditions. HELOC and Home Equity loans only available in Arizona and Texas. Other restrictions may apply. HELOC products charge an annual fee of $75.00. Programs, rates, restrictions, terms and conditions are subject to change without notice. NMLS ID 640299
2Subject to program terms and conditions. Based on combined loan to value (CLTV) and capped at a maximum loan amount of $500,000.
3Subject to program terms and conditions. Certain products charge an Annual fee of up to $75.00
490% CLTV applies to purchase transactions only. Refinancing allowed up to 90% CLTV.
Must qualify as a TruWest member with a minimum $5 membership deposit and continuing balance. All loans are subject to application, approval and product/program terms and conditions. HELOC and Home Equity loans only available in Arizona and Texas. Other mortgage financing solutions not available in AK, HI, LA, SC, VT, and WI. Condominium financing not available in NY and with restrictions in certain areas in FL. Other restrictions may apply. Certain HELOC products charge an Annual fee of up to $75.00. Programs, rates, restrictions, terms and conditions are subject to change without notice. NMLS ID 640299