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      Home Equity Loans

      ACU Home Equity Loans

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      The equity in your home can be a powerful tool to leverage in many different ways. A Home Equity Loan will allow you to capitalize on the value in your home and give you access to cash for the things you need.

      Popular uses for Home Equity Loans include home repair or upgrades, landscaping, pool installation, debt consolidation, paying medical expenses, and for savvy investors, a downpayment on an investment property.

      Home Equity Loan Features:

      • No application fee.
      • Low closing costs.
      • Low fixed-rate.
      • No prepayment penalties.
      • Terms from 5 - 30 years.
      • If your Mortgage isn't with ACU we'll consolidate your current mortgage amount into your new Home Equity Loan so you only have one payment to manage!
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      What is a Home Equity Loan

      A Home Equity Loan allows you to borrow against the overall value of your home, less the mortgage amount you still owe. In the states of Texas and Missouri, you're allowed to borrow up to 80% of the total value of your home between a mortgage and a Home Equity Loan. 

      At ACU we simplify having both a Mortgage and a Home Equity Loan so you only have one payment to worry about each month. Get in contact with our Mortgage Department at 972-494-5328 or, if you're in Missouri, call our Springfield Branch at 417-881-0482, to learn more about how we make your home loans easier to understand and manage.

      Home Equity Loan Calculators

      To calculate home equity, determine the current market value of your home from a tax appraisal or realtor quote. Multiply this amount by 80% (for Texas and Missouri residents), then subtract the balance of your mortgage and any other liens against the property. The resulting figure is your available equity.

      For example, consider a home valued at $300,000 with a $100,000 mortgage:

      $300,000 x 80% = $240,000.
      $240,000 – $100,000 = $140,000 in available equity
       

      Home Equity Loan Rates

      We offer a range of rates and terms to meet your needs. Please call our Mortgage Department at the Garland, TX Home Office at 972-494-5328 or the Springfield, MO Office at 417-881-0482.

      We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

      Home Equity Loan Resources

      All You Need to Know About Home Equity Loans

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      Home Equity Loans allow you to tap into the equity you have in your home in order to open your finances and life up to a whole realm of potential.

      Home Equity Loan proceeds can be used for anything including covering education and tuition costs, paying for home repairs, improvements or additions, consolidating debt and substantial medical expenses.

      In this guide, you will learn how to access the equity in your home (up to 80% of your home's value in Texas and Missouri), how to tell whether or not a home equity loan makes sense for you and the potential benefits and pitfalls associated with it.

      Claim your free copy of our All You Need to Know About Home Equity Loans guide today!

      Claim Your Free Copy Now!
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      Can You Use a Home Equity Loan for Anything?

      4 Pitfalls to Avoid

      [BLOG POST] The short answer to the question, "Can you use a home equity loan for anything?" is yes. Just because you can, however, does not mean you should.

      Getting a home equity loan is a big decision. Although you can use the proceeds for anything (pinball machines, fancy cars or a lifetime supply of candy), you should avoid these pitfalls to ensure your home equity loan provides you with adequate financial benefit. Continue reading...

      Apply for a Home Equity Loan Today!

       

      Apply In Online Banking

      NON-Members: Apply Here

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