Home equity loans

With the equity you’ve built up in your home over the years, you could be sitting on a lot of money! Tap into the money in your home with a home equity loan that will keep your budget in line.  

How can I apply?

Apply Now

Click the link to submit your online application. View our low rates!  For any other questions please call us at 800- 477-LECU, email us, or stop by our branch location.

What is a home equity loan?

A home equity loan is a one-time loan for a fixed dollar amount, at a fixed interest rate, with a fixed term of repayment. This type of loan has a pre-determined monthly repayment amount and an amortization schedule for up to 15 years. Home equity loans are great for specific, one-time purchases like a new car or a home remodeling project.

home sitting on money

How do I calculate my equity?

Example of TX Home Equity Calculation

      $200,000  Current Value

X      80%         Loan to Value Limit

=    $160,000   Potential Equity

–     $100,000   Current Mortgage

=    $  60,000    Maximum Equity Available


The Texas Difference (80% LTV Rule)

In Texas, the state requires that the sum of a home equity loan plus any other mortgage balance the homeowner has MUST be equal to or less than 80% of the home's appraised value. In other words, what you have left to pay on your mortgage loan, plus any other loans you have borrowed against your home can't be more than 80% of the current market value of your home. If we look at the example and take the current appraised value of the home, which is $200,000, 80% (the Texas limit) of that is $160,000. Subtract what you still owe on your mortgage $100,00 and your equity is $60,000. That would be $60,000 in equity that you could borrow.

What can I use the money for?

This low-rate financing option is perfect for large expenses like a home improvement project, consolidating high-interest debt, financing a college education or taking a dream vacation.

consolidate debt, college tuition, remodeling, travel

Things to note:

  • Minimum loan amount is $15,000
  • Interest may be tax deductible. Check with your tax advisor for eligibility.
  • Closing costs due at signing. Please call for details.
Image result for notes

Unimproved Property 

As real estate prices continue to rise year after year, investing in raw land may be a wise financial decision. You may hold onto the land for future development or look to sell the land as the property’s value increase. With great rates and options you can't go wrong!

  • Up to 80% financing available 
  • Term options up to 15 years
  • No prepayment penalties
  • Arrange for automatic payments

Apply for an Unimproved Property Loan Online

 Apply NowHave questions? Call us at 800-477-LECU, email us, or stop by our branch location.



Talk to a counselor

Certified Financial Counselors are standing by to answer your questions. Call them at 888.456.2227.

online Library

Visit the BALANCE online library of educational resources like articles, videos, podcasts and more.

online calculators

Take the guess work out of the equation with our mortgage calculators.