What is a Home Equity Loan
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 upgrades, pool installation, debt consolidation, paying medical expenses, and for savvy investors, a downpayment on an investment property.
How Does A Home Equity Loan Work
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 to learn more about how we make your home loans easier to understand and manage.
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!