Promotions

Home Equity Loans & HELOC

A home equity loan or line of credit puts money in your hands to use as you see fit. Whatever the reason, contact us first for a quick, easy, and affordable process!

Features/Benefits:

  • HELOCs - Interest only payments during the draw period (either 5 or 10 years)¹

  • No application fee or points²

  • Tax-deductible interest in many cases³

Home Equity & Home Equity Line of Credit Promotion

  • No closing costs!⁴

  • Minimum Home Equity Loan amount or HELOC is $15,000

  • Minimum draw of $4,000 on HELOC required to qualify for promo


1. All HELOC annual percentage rates are variable based on the Wall Street Journal Prime Rate, "the Index", published in the Money Rate section, plus a stated margin. Check rates for the current index. The APR may change on the first day of each calendar quarter, January, April, July, and October. Changes in APR can only occur if "the Index" has changed since the last rate change. The minimum is 9.25% and the maximum is 18.00%. APR is Annual Percentage Rate.

2. There is no fee for application, however, other charges may include appraisal and title policy costs, if the loan is greater than $100,000.

3. Consult your tax adviser regarding deductibility of interest. HELOC Terms and Conditions are as follows:

a. The minimum line amount is $15,000.

b. The draw period is either five (5) or ten (10) years in length. The draw period cannot be extended. You may apply for a new HELOC, pay off the existing HELOC during the initial period, and begin a new draw period.

c. The draw period is an interest only payment period. Reduction of principal is not required.

d. The repayment period may be either 5 or 10 years in length and the minimum payment amount is $25.00.

e. A single property can be secured by either a HELOC or home equity loan, not both at the same time.

f. You may borrow up to 80% of the value of your home minus existing mortgages, but the credit line is limited to 50% of the home's value.

g. Each draw (advance) must be at least $4,000, the minimum per Texas statue. Advances may be completed by phone, in person, by written request, Home Banking, or the Automated Phone Banking System.

4. Home Equity loans and Home Equity Lines of Credit eligible for promotion. Minimum Home Equity loan amount or HELOC is $15,000. Minimum draw of $4,000 on HELOC required to qualify for promo.Please contact us for more details.