Home Equity Loans

Put Your Home's Equity To Work

A Home Equity Loan* is a type of loan that is secured against the equity (ownership) you've built up in your home. That's what makes them a low-rate financing option for large expenses like a home improvement project, a child's education, or consolidating loan payments with higher interest rates. 

Calculate Your Home Equity Payment

Estimate your available home equity and what your monthly payment might be with the CUTX Home Equity Loan Payment Calculator

You Have

of available equity

according to Texas Law

Payment Calculator is intended to provide estimates for research purposes only. Your actual payment details and interest rate may vary depending on your credit score and other factors.

Home Equity Payment Estimates

Loan Term Estimated Monthly Payment Est. Mo. Pmt.
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CUTX answers all inquiries Monday through Friday 9:00 am to 6:00 pm and Saturdays 10:00 am to 2:00 pm.

Ways to Use Your Home Equity

Fund Your Home Improvement Projects

A home equity loan is perfect for financing home improvement projects both large and small. Unlike retail financing options and credit cards, a CUTX home equity loan comes with a low, fixed interest rate that can save you thousands in interest over the life of the loan compared to a credit card.

Consolidate & Lower Monthly Payments

Homeowners that need to consolidate and lower their monthly payments across multiple loans may want to consider a home equity loan. Combining balances into a fixed-rate loan can help facilitate faster payoffs and potentially help save money on interest.

Pay For Educational Fees & Tuition

Using a home equity loan to pay for large expenses such as school tuition and fees is a common way to avoid the need for other types of higher-rate loans. Be sure to apply for your equity loan in advance to allow enough time to close and fund your loan before tuition is due.

Become a Home Equity Expert

If you're interested in tapping into your home's equity and using the funds to invest in things like home improvements, someone's education, and other expenses, enroll in CUTX's Home Equity Email Series. You'll get a no-pressure series of occasional emails with helpful information about making the most of your home equity.

Home Equity Loan Process

Apply for your Home Equity Loan

Use the CUTX Available Equity Calculator to see how much home equity you have and how much you might be able to borrow in a home equity loan. Once you determine the amount and term you want, simply apply online.

Work with a Loan Specialist

Once you've applied online and completed your application, a CUTX loan specialist will work with you to gather any necessary documents in order to process your loan.

Plan your closing date

Your CUTX loan specialist will coordinate with you (and your co-borrower, if applicable) to plan and set a closing date. All borrowers must bring a valid government-issued ID to the closing.

Get your funds!

After the closing, there is a 3-day waiting period, after which CUTX will fund the savings account set up for you to draw the loan from. If you're using the loan for consolidation, make sure you immediately use the funds to pay off the debts you intended to consolidate so that your pay-off balances do not continue to increase.


  1. If you are a member of CUTX: Log in to online banking and make a payment with a funds transfer.
  2. If not a member: Use your financial institution to pay via Billpay
  3. Pay over phone: Call 972-263-9497, choose option 4 for Member Services ($15 Service Fee is applied to phone payments)
  4. Make a payment through Speedpay
  5. Make an automated payment through Telephone Teller:  Call 972-263-9497, choose option 1

CUTX Home Equity Loans have much lower interest rates than other types of credit, such as credit cards or unsecured personal loans. They have fixed monthly payments which can be very low, with payment terms of up to 30 years.* Plus, if you use them for home improvements, the interest may be tax deductible—ask your tax professional.

And CUTX charges no prepayment penalties.

In Texas, you can borrow up to 80% loan-to-value (LTV), a measure of how much you owe compared to the value of the home. At CUTX, the minimum loan amount is $25,000 and the maximum is $250,000 for first liens. Use CUTX’s Available Equity Calculator to get an idea of how much you might be able to borrow.

CUTX has competitive fees for Home Equity products and the exact amount of the fees are dependent on the type of loan. A Home Equity Specialist is available to answer any questions you have regarding specific fees.

The home must be in Texas, not zoned agricultural and be single family, owner-occupied. That includes houses, condos, townhomes or duplexes. CUTX does not do home equity loans or mortgages for mobile homes or manufactured homes. Borrowers can only have one Home Equity Loan at a time.

Aside from the list of guidelines and restrictions set by the state of Texas, there are few disadvantages to home equity loans. Borrowers that do not qualify for a home equity loan may still have other loan options available to them.

Some borrowers do not feel comfortable taking out a new loan against their home once they've already paid it down. But as long as you intend to repay the loan in full, there's nothing wrong with using a home equity loan to get a lower interest rate.

*CUTX home loan programs are only available in Texas. All loans are subject to credit approval and Credit Union of Texas lending policies. Other restrictions may apply. A sample loan payment for a fixed equity loan based on a $50,000 at 3.00% APR for 15 years is $345.30. APR = Annual Percentage Rate. The payment example does not include amounts for taxes and insurance premiums, and if applicable, the actual payment obligation will be greater. Rates, terms and conditions are subject to change at any time without notice. Texas homestead properties are limited to 80% combined loan to fair market value for home equity financing. Additionally, there is a 12-day cooling off period and a 3-day right of rescission after closing before the funds may be disbursed. Property insurance is required, including flood insurance where applicable. The approval is subject to application, credit qualification, and income verification; additional evaluation and verification criteria may apply. NMLS #576560 Credit Union of Texas provides mortgage loans through its affiliate Texas Mortgage Lending, LLC, NMLS #1641703. Membership required.