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Home Equity Loans
  • No Closing Costs
  • No Application Fee
  • Extremely Low Rates
If you have owned your home for several years (or made a substantial down payment) you may be eligible for a home equity loan. Home equity loans can be used for any purpose including:
  • College
  • Home improvements
  • New or used automobiles
  • Vacations
  • Debt consolidation
You can apply for either a Home Equity or a Home Equity Line of Credit Loan at the Memorial Drive Office. Call 713.986.0200 or 1.800.927.8707 for an appointment. We will inform you what information you will need to bring with you to make your application process fast and easy.

Traditional Home Equity Loan
A traditional Home Equity Loan offers a one-time withdrawal. You apply for the loan and the amount you are approved for will be dispensed in one check or deposit. Our traditioanl Home Equity Loan has a fixed rate.

Because your home is used as collateral, home equity loans are often one of the least expensive forms of consumer loans available. And their interest may be tax-deductible. How much can you apply for? It varies per individual. Home equity loans from Houston Police FCU are limited to 80% of the appraised value of your home. And you could qualify for a minimum of $5,000.

Just remember:

• You can only have one outstanding home equity loan at a time.
• That loan cannot be refinanced until it has been in place for 12 months.
• There is a minimum of 15 days before funds may be dispersed.
• Consult your tax advisor as the tax deductibility of a home equity loan is based on individual circumstances.

Want to find out the tax appraised value of your home? Click here.

Home Equity Line of Credit Loan
A Home Equity Line of Credit is more flexible than the traditioanl home equity loan allowing multiple withdrawals from a credit line. You only apply once and once approved, you are given a credit limit. You are then able to withdraw the funds when you need them and for the amount you want (minimum$4,000 withdrawal up to your credit limit). Plus when you pay back the funds, they are available for withdrawal again. Our Home Equity Line of Credit offers a variable rate.

Click here for more information on Home Equity Line of Credit Loans.


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