on loans up to $400,0001

Home Equity Line of Credit

Leveraging your largest asset.

Home Equity Lines of Credit (HELOCs)

Access To Your Home's Equity, When You Need It

A Home Equity Line of Credit2 lets you tap into your home equity as needed. You can pay down and re-borrow against it as you see fit. A line of credit is especially helpful to borrowers who have several upcoming home improvements or phased projects or want a safeguard to fund large, unexpected, or ongoing expenses like school tuition. You can reduce interest costs by paying down the balance between draws. 

Calculate Your HELOC Payment

Estimate your available home equity and what your monthly payment might be with the CUTX HELOC 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

Estimate for 5/15 HELOC
Estimate for 10/10 HELOC

Your estimated interest-only payment during your draw period is $XXX.

During your repayment period, your payment will be $XXX.

Your estimated interest-only payment during your draw period is $XXX.

During your repayment period, your payment will be $XXX.

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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.

Common Uses for HELOCs

Fund Your Home Improvement Projects

A HELOC is perfect for financing large and small home improvement projects, especially if the projects are happening in phases. Unlike home improvement store loans and credit cards, a CUTX HELOC comes with a low interest rate that can save you thousands in interest over the life of the loan compared to a credit card.

Pay For Educational Fees & Tuition

Using a HELOC to pay for larger costs such as college tuition and educational expenses is a great way to avoid the need for private or federal student loans. The flexibility of a HELOC lets you borrow what you need, pay down the balance, then re-borrow funds again the following semester. And you only pay interest on what you borrow.

Build a Backyard Swimming Pool

Having a swimming pool built in your backyard can come with hidden and unexpected costs, especially when it comes to landscaping and finishing touches. That's what makes a HELOC a popular financing option for homeowners who are building a swimming pool. You can borrow what you need, then borrow more.

Become a Home Equity Expert

If you're interested in HELOCs and using your home equity to invest in things like home renovations, your or a loved one's education, or other expenses, enroll in CUTX's Home Equity Email Series today.

HELOC Process

Apply for your Home Equity Line of Credit

Use the calculator above to see how much of a home equity loan you can potentially qualify for, then click the Get Started button to work with a CUTX specialist and complete an application.

Work with a Loan Specialist

Your loan specialist will work with you every step of the way to help gather the necessary documents for approval.

Plan your closing date

All signatories must be present to sign documents at closing. Bring valid photo identification. Once the closing has taken place, a required 3-day waiting period begins in which the borrower can still cancel the loan if they so choose.

Get your funds!

After the required waiting period passes without cancellation, CUTX will make your Home Equity Line of Credit available to you so you can make your first draw.


  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 Lines of Credit have lower interest rates than other types of revolving credit, such as credit cards. They allow you to borrow from your home’s equity and repay only the interest for a period of years, if you choose. Or you can pay the loan down between draws. If you use the HELOC to pay for home improvements your interest payments may be tax deductible—discuss with your tax advisor.

And CUTX charges no prepayment penalties.

Texas law limits home equity loans and lines of credit to 80% loan-to-value (LTV). This is a measure of how much you owe compared to the value of the home. At CUTX, the minimum loan amount is $20,000 and the maximum is $750,000 for first liens and up to $300,000 on second liens. Use CUTX’s Available Equity Calculator to get an idea how much you might be able to borrow.

CUTX charges no closing costs for home equity loans under $400,000.

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 or HELOC at a time.

Some borrowers feel that the variable interest rates on HELOCs are a disadvantage because the price of the debt may increase if interest rates rise. Another risk with home equity lines of credit is that borrowers could find themselves maxed out on their line of credit and in financial trouble. This could endanger your home ownership. Therefore HELOCs are best for people who have the ability to pay down the balance regularly as needed.

*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.