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Home Equity Line of Credit

A flexible way to finance your dreams

Home Equity Line of Credit

A flexible way to finance your dreams

A variable-rate line of credit secured by the equity in your home

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Whether you are in the San Antonio, Boerne, or Fort Worth area, our Home Equity Line of Credit (HELOC) might be the perfect solution to finance your dreams. Requirements: Minimum loan amount is $30K.

What is a HELOC?

A HELOC, short for Home Equity Line of Credit, is a loan that uses the equity you’ve accumulated in your home as collateral. Essentially, it’s the difference between your home’s value and the remaining balance on your mortgage.

In Texas, you may borrow up to 80% of the appraised value. For example,

  1. Appraised value = $250,000
  2. Appraised value x 80% = $200,000
  3. $200,000 – existing first lien mortgage balance = Available Lendable Equity


You are able to borrow against this equity with a HELOC. Other credit factors and lender limits are included in determining the exact borrowed amount.

Using Your Home’s Equity

Unlock the potential of your home equity with a HELOC and transform your dreams into reality. Whether you’ve been longing for a pool, kitchen upgrades, or other home improvements, a HELOC can easily fund those projects and potentially increase your home’s value.

But that’s not all. You can also utilize the equity to consolidate high-interest credit card debt or cover your child’s education expenses. The best part? Since HELOCs are secured loans, they generally come with lower interest rates compared to unsecured options like personal loans or credit cards. Say goodbye to high interest and hello to financial flexibility with a HELOC.

HELOC vs. Home Equity Loan

A HELOC is a line of credit, meaning you will have access to your funds as you need them. With a HELOC, you only pay back what you use on your line of credit. Think of it as a credit card. If your approved credit card limit is $10,000, but you only spend $1,000 – you only have to pay back the $1,000 (the other $9,000 is still available to use if and when you need it). See our FAQs below for specifics related to a United Texas Home Equity Line of Credit.

In contrast, with a Home Equity Loan, you’ll receive the full loan amount upfront in one lump sum, and you’ll have set monthly payments to pay back the loan.

Both options offer different benefits. For example, if you have ongoing repairs or expenses, the convenience of borrowing as needed with a HELOC may be the best option. If you are putting in a new pool and know the upfront cost, a lump sum Home Equity Loan may work best.

Rates & Calculator

Loan Calculator

Loan Amount
Rate (APR)
Term

Enter your loan details to see your repayment information

Disclaimer: Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their applicability or accuracy in regards to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Monthly payment# of payments
Total paymentTotal interest
Home Equity Line of Credit (Texas only)
$30,000 – $200,000** as low as 7.75% APR* up to 240 months

*APR means Annual Percentage Rate. Rates are effective as of August 1, 2023. The specific rate and term will be dependent upon your credit rating, collateral value, amount financed, and other factors. Rates and terms are subject to change without prior notice; other restrictions may apply. Payment per $1,000 is approximately $8.21 per month for 240 months at 7.75% APR.

**Independent appraisal (at member’s expense) required on a Home Equity Line of Credit over $100,000.

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Frequently Asked Questions

1. All applicants applying for a Home Equity Line of Credit must be listed as property owners.
2. The subject property must have a homestead exemption.
3. United Texas does not process HELOCs on condos, mobile homes, or rental properties.
4. Texas properties only.
5. No Home Equity loan in the previous 12 months or currently owing on. Only one home equity loan/line of credit per homestead per member is allowed in Texas.
6. Must be an owner-occupied, one or two-family home.
7. Must have at least 20% appraised value owned in the home.

In Texas, you may have only one Home Equity Loan or Home Equity Line of Credit per property at a time. If your current loan is a HELOC or Home Equity, it must be paid off.

A HELOC cannot exceed 80% of the Fair Market/ appraised value. A United Texas Credit Union HELOC must be a minimum of $30,000 and cannot exceed $200,000.

Yes, there are approximately $675 in fees associated with a HELOC, in addition to any applicable appraisal fees (not all loans require an appraisal).

Loan amounts between $30,000 to $100,000 do not require an appraisal. Loan amounts in excess of $100,000 will require an appraisal. Fees are non-refundable and depend on the type of appraisal required.

No escrows will be provided for this type of loan. Ask us for more details.

You may only close your loan at three locations: a title company, an attorney’s office or at the office of the lender.

When the loan is closed, the first draw must be at least $10,000. Subsequent draws must be at least $4,000.

The loan term is up to 20 years (240 months). Five years is the draw period and 15 years is the repayment period.

All HELOC loan payments are due by the first of each month. You may make your payment at any time prior to the due date without a prepayment penalty.

If you have questions or want more information, please contact one of our Financial Services Officers at (210) 561-4500 or toll-free at (800) 531-8456.

United Texas Credit Union is a lender licensed under the National Mortgage Licensing System and Registry under registration number 516820.

Richard J. Avina – NMLS ID: 1249045
Kris Boiles – NMLS ID: 555136
Jesus Castillo – NMLS ID: 321443
Gordon Chin – NMLS ID: 1381781
Shelby Johnson – NMLS ID: 2252687
Jon Llanes – NMLS ID: 1754564
Adolfo Martinez – NMLS ID: 567891
Juana Montalvo – NMLS ID: 1427693
Jorge A. Rocha, Jr. – NMLS ID: 513941
Layton Shelton – NMLS ID: 2252700

Normal credit criteria apply.
Our standard online loan application is not valid for Home Equity Loans.

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