Home Equity Loan
If you’ve built equity in your home over the years, you can use it for home improvement projects, education expenses, or consolidating your debts with a Home Equity Loan from Greater Texas and Aggieland CU.
Plus, the interest paid on your Home Equity Loan may be 100% tax deductible.* Your credit union can help you recycle the money in your home with a Home Equity Loan.
To apply for a Home Equity fill out the application and return it to us along with the following:
- 12 day notice
- Mortgage Fraud Warning
- Written verification of income. We need last 2 years tax returns plus 2 months of current pay stubs.
- A tax statement
- Your deed of trust
- Your Homeowners Insurance Policy
- Your Mortgage Balance
- For Home Improvement we will also need a contractor's bid
- In the event the member is married, the spouse must apply for the loan as a co-applicant. All income will need to be verified for both applicants.
- When the new loan amount is $100,000 or more and the total Loan to Value Ratio of the property is more than 65%, the credit union will require a certified appraisal to determine the value of the property.
We will take care of the rest. You just need to plan on how you are going to spend your money!
*Consult your tax adviser