Your credit has been preapproved* for a Home Equity Line of Credit (HELOC).

One of our Home Equity Loan Officers will be in touch within one business day to discuss your credit approval, start the process of determining your available equity, and decided which option is best for you! As a CUTX member, our HELOC offers you:

• Interest Only Payments for up to 10 years**
• No Prepayment Penalty
• Quick Close for Easy Access to your Equity

We look forward to working with you.

Credit Union of Texas offers two different rates programs for the Home Equity Line of Credit (HELOC) 1) a variable Annual Percentage Rate (APR) based on the Prime Rate as published in the Money Rates section of The Wall Street Journal (the “Index”) plus a margin based on creditworthiness and credit limit. 2) a fixed Annual Percentage Rate (APR) based on creditworthiness and credit limit. As of December 13, 2023, the index value is 8.50%. The floor APR will be 3.00%. An increase in the index will result in an increase In the periodic rate which, in turn, will result in higher payments. In no event, will the APR increase by more than 18% or the maximum rate allowed by applicable law. Interest only payments during the 10-year draw period and will be re-amortized at the time the repayment period begins. If interest only payments are made during the draw period, the loan balance will not decrease. Property insurance is required, including flood insurance where applicable. The minimum advance during the draw period is $4,000. No closing costs. If, however, an appraisal or a policy of title insurance is required, applicant is responsible for those costs. Texas homestead properties are limited to 80% combined loan to fair market value for home equity financing. All loans are subject to credit approval and Credit Union of Texas lending policies. Other restrictions may apply. In Texas, there is a 12-day cooling off period on all HELOCs. There is also a three-day right of recission after closing before the funds may be disbursed. Actual time of funding may differ depending on appraisal, title, and other underwriting requirements. This offer is valid for 60 days following the application receipt date. The account is subject to application, credit qualifications, and income verification, additional evaluation and verification criteria may apply. CUTX home loan programs are only available in Texas. Credit Union of Texas NMLS #576560.

Thank you for applying for a Home Equity Line of Credit (HELOC) at CUTX. Your application is currently in review and one of our Home Equity Loan Officers will be reaching out to you within one business day. We may need some additional information to complete the application process.

Texas homestead properties are limited to 80% combined loan to fair market value for home equity financing. All loans are subject to credit approval and Credit Union of Texas lending policies. Other restrictions may apply. In Texas, there is a 12-day cooling off period on all HELOCs. There is also a three-day right of rescission after closing before the funds may be disbursed. Actual time of funding may differ depending on appraisal, title, and other underwriting requirements. The account is subject to credit qualification, and income verification; additional evaluation and verification criteria may apply. CUTX home loan programs are only available in Texas. Credit Union of Texas NMLS #576560

We regret to inform you that we are not able to approve your Home Equity Line of Credit (HELOC) application at this time. If you have further questions, please feel free to reach out to our Home Equity Department at 972-301-1989. Credit Union of Texas NMLS #576560