Home Equity Loan
A home equity loan from SWACU helps you optimize the equity in your home so you can get more for less! So go ahead, pay college tuition, splurge on those granite countertops, add that pool, take a much-needed vacation or simply consolidate your high interest rate debt. Our home equity rates offer:
- Flexible repayment terms
- No maintenance or underwriting fees
- Automatic transfer available for payments
Home equity loans are available in Texas, Arizona, Illinois and Georgia for owner-occupied properties. Please consult a tax advisor as interest on home equity loans may be tax deductible.
- Texas
- Available to Texas owner-occupied properties only
- Borrow up to 80% of the home's market value, minus the first mortgage balance
- $5,000 minimum loan
- $100,000 maximum loan
- Up to 15-year terms available
- No penalty for paying off loan early
- 12-day waiting period after you have submitted all paper work (state law)
- After closing, three-day right of recession before funds are released
- Closing costs may vary
- Title policy required for loan above $100,000
- Appraisal may be required
- Annual percentage rate may vary
- Arizona
- Available to Arizona owner-occupied properties only
- Borrow up to 80% of the home's market value, minus the first mortgage balance
- No up front fees
- Up to 15-year terms available
- Early termination fee if loan is closed within first three years
- After closing, three-day right of recession before funds are released
- Closing costs may vary
- Title policy required for loan above $100,000
- Appraisal may be required
- Annual percentage rate may vary
- Georgia
- Available to Georgia owner-occupied properties only
- Borrow up to 80% of the home's market value, minus the first mortgage balance
- $5,000 minimum loan with a $100,000 maximum
- Up to 15 year terms available
- Title policy require for loans above $100,000
- Appraisal may be required
- Annual percentage rate may vary
- Illinois
- Available to Illinois owner-occupied properties only
- Borrow up to 80% of the home's market value, minus the first mortgage balance
- $5,000 minimum loan with a $100,000 maximum
- Up to 15-year terms available
- After closing, three-day right of recession before funds are released
- Closing costs may vary
- Title policy required for loan above $100,000
- Appraisal may be required
- Annual percentage rate may vary
