Reach your goals with home equity
A TCT home equity loan or line of credit (HELOC) allows you to use the value you've built up in your home as collateral for a loan. The credit union HELOC provides you with a revolving balance, just like a credit card, that you can use to fund important goals like furthering your education, making home improvements, or consolidating debt. We can also help you refinance a current home loan from another lender.
Pay No Closing Costs for a HELOC up to $100,000*
Home Equity Line of Credit (HELOC)
You can decide when and how much to borrow by writing a check against the loan.
- Low 3-year introductory rate
- Borrow up to 80% of your home's value
Home Equity Loan
Ideal for a large, one-time purchase or project. Fixed rate with a consistent monthly payment.
- Terms from 5-20 years
- Borrow up to 80% of your home's value (up to 90% available with different terms and conditions)
Important Links
What You Should Know About Home Equity Lines of Credit (HELOC) from the CFPB
HOME EQUITY EARLY DISCLOSURE - IMPORTANT TERMS OF OUR HOME EQUITY LINE OF CREDIT PLAN
| Premier Plan* | Preferred Plan* |
|---|---|
| 5.25% APR Variable Rate Plan: |
6.25% APR Variable Rate Plan: |
| Initial rate is discounted for the first 36 months, thereafter prime rate plus 0% for the life of the loan. | Initial rate is discounted for the first 36 months, thereafter prime rate plus 1.00% for the life of the loan. |
| Annual interest rate review, 2% annual adjustment cap with a maximum rate of 15.00%, and a floor of 4.00%, except for the introductory rate offered. | Annual interest rate review, 2% annual adjustment cap with a maximum rate of 15.00%, and a floor rate of 5.00%, except for the introductory rate offered. |
*Current Prime Rate as of December 19, 2024, is 7.50%. 25 Year Repayment Period | 10 Year Draw Period Minimum Line of Credit Amount: $10,000 | Maximum Line of Credit Amount: $250,000 (1st Lien Position), $125,000 (2nd Lien) TCT Federal Credit Union NMLS Identifier: 643679 | |
| Term | APR* (Fixed Rates as low as) | Monthly Payment per $1000 |
|---|---|---|
| RAPID REFI MORTGAGE (1st LIEN-HOLDER POSITION) | ||
| 5 Year (60 month) | 5.49% | $19.10 |
| 10 Year (120 month) | 5.75% | $10.98 |
| 15 Year (180 month) | 6.25% | $8.58 |
| 20 Year (240 month)* | 6.75% | $7.61 |
| *20-year minimum loan amount is $50,000, available only to A+, A, and B tiers, and eligible only on first liens. | ||
| 2nd LIEN-HOLDER POSITION | ||
| 5 Year (60 month) | 6.50% | $19.57 |
| 10 Year (120 month) | 6.75% | $11.49 |
| 15 Year (180 month) | 7.25% | $9.14 |
Minimum Loan Amount: $10,000 | Maximum Loan Amount: $350,000 (RAPID REFI MORTGAGE /1st Lien Position), $150,000 (2nd Lien Position) TCT Federal Credit Union NMLS Identifier: 643679 | ||
*Closing costs including the New York State Mortgage Tax will be paid by TCT Federal Credit Union on behalf of the borrower on Home Equity Loans and Lines of Credit up to $100,000. Closing costs are estimated at $245.00 - $1616.50, actual closing costs and mortgage tax may be different. Property insurance is required. This special offer may be withdrawn at any time. Existing TCT loans do not qualify for this special offer. All Lines of Credit require a minimum initial advance of $10,000. If the HELOC or Home Equity Loan is paid and closed within 3 years of the closing date, the borrower will be required to reimburse the Credit Union for all closing costs paid on their behalf which will be added to the payoff amount of the loan. TCT Federal Credit Union NMLS Identifier: 643679
Home Mortgage Disclosure Act Notice: The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s Web site (www.consumerfinance.gov/hmda). You may also inquire at TCT FCU, Lending Department, 416 Rowland St., Ballston Spa, NY regarding the locations where HMDA data may be inspected.
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