Why TruWest
Finance What's Important to YouHome Equity Line of Credit
You've put in the time and hard work–now it's time to enjoy the fruits of your labor. Turn the equity you’ve built up into a home equity line of credit (HELOC). A home equity line of credit offers lower rates than traditional credit cards and provides you with quick access to cash whenever you need it. Use it to finance a major purchase or for peace of mind with unexpected expenses, including debt consolidation, educational costs, medical expenses, home renovations, and more.
- Lower variable-interest rate
- No annual fee
- No appraisal required1
- Possible tax deductions2
- Revolving line of credit
Have questions? You can talk to a mortgage loan originator at (855) 841-9203.
FAQs
Frequently Asked Questions-
Do I need to be a member TruWest Credit Union to receive a home equity line of credit (HELOC)?
Answer:
Yes. A membership is required if you are approved for a HELOC.
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What is the difference between a home equity loan (HE loan) and a HELOC?
Answer:
With a home equity loan, the money you are borrowing comes to you in one specific lump sum. Typically, you will also pay a fixed interest rate. A home equity line of credit (HELOC), lets you borrow money multiple times from an overall available sum. HELOCs usually also have you pay an adjustable interest rate.
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Why choose a home equity line of credit?
Answer:
Some of the benefits of a HELOC is its flexibility with the revolving line of credit and low closing costs. This is a great option for homeowners who want to borrow less money, withdraw their funds, as needed rather than all of it upfront.
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Who are loan originators that work with TruWest?
Answer:
View our licensed mortgage loan originators.
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Do you have any calculators or any other resources for help?
Answer:
Yes. The calculators tab can help you get a better idea of your payment.
Next Steps
As easy as 1, 2, 3How to apply for a HELOC
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1
Application
Apply online or by phone at (855) 841-9203. -
2
Processing
Applications with complete information will be processed and disclosed within 3 business days. A licensed TruWest Mortgage Loan Originator may contact you if additional information is needed. -
3
Origination
Once the application process has started, the origination process will begin. Origination times may vary based on transaction, but normally take 30-45 days. -
4
Closing
Once the loan has passed underwriting, a TruWest representative will contact you to arrange a closing appointment.
Note: A TruWest membership should be opened prior to loan approval but can be opened any time before loan disbursement (funding)
[gravityform id="1" title="true" description="true"]1 No appraisal necessary for credit lines less than $100,000. Property valuation must meet TruWest requirements.
2 Consult your tax advisor.