Home Equity Line of Credit

With no closing costs and no prepayment penalty, a home loan from Teachers is the smart way to borrow. Whether you’re consolidating debt, making home improvements, paying off medical bills or furthering your education, a Teachers Home Equity Line of Credit (HELOC) is here to help you gain the financial flexibility that you deserve.

With low rates, and a fast funding process, you'll save time and money when you choose a Teachers Home Equity Line of Credit. 

With a Teachers Federal Credit Union Home Equity Line of Credit you can:

  • Enjoy rates as low as 4.24% APR** for the first 12 months for up to 80% of the value of your home and a variable prime rate as low as 4.50% APR thereafter. 
  • Borrow more for larger projects, with loan limits ranging from $10,000 to $500,000 (for qualified borrowers).
  • Remodel your home or use the line for other big purchases - it’s easy to draw from at any time.
  • Pay interest only or principal and interest payments from the start of your loan.
  • Enjoy affordable monthly payments.

We offer Home Equity Line of Credit loans on a primary residence in most states.
Pease contact us about your specific state.


Additional Loan Types Available: 


Interest-Only Home Equity Line of Credit
Refinance a higher-payment HELOC from another financial institution with us.
Mini Adjustable Equity Loan
Access to your home equity for shorter terms at an adjustable rate.
Mini Fixed First Lien Position Equity
Ideal for borrowers with no mortgage or home equity loan lien on their property.
Mini Fixed Equity Loan
Access to your home equity for shorter terms at a fixed rate.

 

We can help make the home loan process easier for you. Contact one of our lending experts today.  

Apply Now

*APR = Annual Percentage Rate. For one year, Prime for life thereafter. All offers of credit are subject to credit approval and property valuation; applicants may be offered credit at higher rates and other terms. Loan-to-Value (“LTV”) restrictions apply. Hazard insurance is required on all loans secured by real property; if the premises is in a special flood hazard area flood insurance may also be required. Minimum draw at closing required. Closing costs will be paid by Teachers Federal Credit Union, but must be repaid by the borrower(s) if the minimum balance requirement on the HELOC is not met for the first 36 months of account opening.

**The introductory rate is 4.24% APR for 12 months and applies to primary residence transactions only with a maximum 80% LTV. Home Equity rates and terms accurate as of 6/13/22 and are subject to change without notice. Prime rate is 4.50% APR. HELOC is a variable rate product. The annual percentage rate may change quarterly on the first day of January, April, July and October. The rate cannot increase or decrease more than 1.0 percentage point at each adjustment, with a rate not to exceed the maximum legal limit for Federal Credit Unions (currently 18%).

Secondary Home: Home Equity Line of Credit products securitizing second home introductory rates as low as 5.24% APR, Prime +1.00% for life thereafter. Minimum draw at closing required. Borrower is responsible for all closing costs.

Teachers Federal Credit Union offers either an amortizing or an interest only repayment option. (1) The amortizing loan has a 15 year drawdown period followed by a 10 year repayment period. (2) The interest only loan has a 10 year draw period followed by a 15 year repayment period.

Lines up to $100,000 require $10,000 minimum advance and must maintain a minimum balance of $5,000 for 36 months to avoid repayment of closing costs. Lines $100,001 - $250,000 require $60,000 minimum advance and must maintain a minimum balance of $50,000 for 36 months to avoid repayment of closing costs. Lines $250,001 - $500,000 requires $150,000 minimum advance and must maintain a minimum balance of $100,000 for 36 months to avoid repayment of closing costs. Variable rate equal to the Wall Street Journal Prime Rate as published 30 days prior to interest rate adjustment date, applied at loan origination.

Please consult with a Teachers Federal Credit Union representative at 1-800-341-4333 for more information.

Membership required, $1.00 minimum Regular Savings account is required at or prior to HELOC opening.

Consult a tax professional regarding the deductibility of your interest payments and charges.