Fast Track Loan

Fixed Home Equity Line of Credit (HELOC)

Put Your Home Equity to Work

Interest Only Payments for Up to 10 Years*

By not having to pay down your principal for up to the first ten years, you have the ability to address more urgent cash demands.

No Closing Costs On Loans Up to $400,000

Keep more cash in your pocket now by not having to pay any closing costs on your home equity line of credit.

Close in as Few as 15 Days

We feel your sense of urgency and will work our hardest to help you close on your HELOC in as little time as possible, often in as few as 15 days.

Fixed Interest Rate

No need to worry about any market fluctuations in the coming years, you'll have the stability and peace of mind of your HELOC at a fixed rate.

No Income Verification Required

We'll help you to use the equity you already have in your home, without ever having to verify your income.

No Appraisal Necessary**

We don't need to send anyone to your home to inspect it, we're able to accurately appraise your house remotely.

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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.

*Fixed rate home equity line of credit: Loan has a draw period of 10 years, followed by a repayment period. Interest only payments during the 10-year draw period and will be re-amortized at the time the repayment period begins. If interest only payments are made during the draw period, the loan balance will not decrease.

Variable rate home equity line of credit: Credit Union of Texas offers a variable Annual Percentage Rate (APR) based on the Prime Rate as published in the Money Rates section of The Wall Street Journal (the “Index”) plus a margin based on creditworthiness and credit limit. As of March 15, 2020, the index value is 3.25%. The floor APR will be 3.00%. An increase in the Index will result in an increase in the periodic rate which, in turn, will result in higher payments. In no event, will the APR increase by more than 18% or the maximum rate allowed by applicable law.

Offer is limited to consumer Home Equity Lines of Credit (HELOCs) not currently held at Credit Union of Texas. Property insurance is required, including flood insurance where applicable. The minimum advance during the draw period is $4,000. **No closing costs on loans up to $400,000. If, however, an appraisal or a policy of title insurance is required, applicant is responsible for those costs. Texas homestead properties are limited to 80% combined loan to fair market value for home equity financing. All loans are subject to credit approval and Credit Union of Texas lending policies. Other restrictions may apply. In Texas, there is a 12-day cooling off period on all HELOCs. There is also a three-day right of rescission after closing before the funds may be disbursed. Actual time of funding may differ depending on appraisal, title and other underwriting requirements. This is a limited-time offer and is subject to change at any time without notice. The account is subject to application, credit qualification, and income verification; additional evaluation and verification criteria may apply. CUTX home loan programs are only available in Texas. Credit Union of Texas NMLS #576560. Membership required.