Tap into the cash reserve found right under your roof
Use a home equity loan or line of credit with competitive rates to finance home improvement dreams or short-term needs.
Benefits You’ll Love
- Rates as low as 5.49%
- Unique repayment terms to meet your needs
- Enjoy local decision-making and processing
- Get helpful, attentive service throughout the entire process
- Competitive rates for several short-term or recurring needs:
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- Education expenses
- Major life events
- Home remodel projects
- Debt consolidation
- And more
- The existing equity in your home is used to secure the loan
- Term loan and line of credit options available
- Accommodating repayment terms that work uniquely for you
- The interest paid might be tax deductible**
- Local Central Texas decision-making and processing
- Helpful, customized service throughout the entire process
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Home Equity Loans & Home Equity Lines of Credit (HELOC)
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What is the difference between a home equity loan and a home equity line of credit?
A home equity loan is a mortgage loan that is collateralized by the difference in the value of your home and any other loans that you may have against your home.
A home equity line of credit (HELOC) is a revolving mortgage loan with a set credit limit. Like a home equity loan, a HELOC is collateralized by the difference in the value of your home and any other loans that you may have against your home. We encourage you to make CCU your primary financial institution by setting up a checking account, enrolling in online banking and setting up monthly payments through our online Bill Pay service.
How much can I borrow?
You can borrow up to 80% of the fair market value of the property minus the principle balances of any outstanding mortgages on the property. At Capitol Credit Union, home equity loans range from $10,000 to $250,000. HELOCs range from $10,000 to $150,000.
How are home equity loans and HELOCs structured?
A home equity loan is a closed-ended loan with regular required monthly payments. The repayment terms will be determined based on the amount financed.
A HELOC is a revolving account with monthly payments required only so long as you maintain a loan balance. You can obtain as many advances as you need up to your available credit limit for up to five years, with your borrowing power replenished as you repay the loan. Initial draw minimum is $10,000 and the minimum for subsequent draws is $4000.
Can I have more than one home equity loan/HELOC?
No. You can only have one home equity loan or HELOC at a time. Texas law states that if your home was used as security for a home equity loan or HELOC in the past year, a new loan secured by the same property may not close before one year has passed from the closing date of the other loan.
Does my mobile home qualify for a HELOC?
Mobile homes and modular homes, even on permanent foundations, are not eligible for this program. A residence that is not the member’s primary residence or is not a single family dwelling will not qualify.
Is the interest tax-deductible?
Yes, in most cases you can deduct 100% of the interest you pay from your federal income tax. Generally, interest on a home equity loan/HELOC up to $100,000 is tax deductible. You should consult with a tax advisor regarding your tax situation. The tax advantages can make a big difference in the total after tax interest that is paid on a loan.
Can I have a home equity loan/HELOC on property that is not my primary residence?
Yes. You may borrow against the equity in your home or a second home but home equity loans/HELOCs from Capitol Credit Union are only available on primary residences.
What is the process for getting a home equity loan/HELOC from Capitol Credit Union?
To get a home equity loan application please contact us. We will process the application and have a preliminary decision for you within two business days. After the approval, it takes a minimum of 15 days to receive your funds. A home equity loan cannot be closed before the 12th day after submitting the application, and there is a three-day right of rescission. The closing date will depend on getting all of the necessary information and documentation for closing. A loan specialist will talk you through the process and let you know all the documentation you will need.
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| Details | Home Equity Loan | Home Equity Line of Credit (HELOC) |
|---|---|---|
| Rates | Fixed | Variable |
| Term | 5, 10, 15 or 20 year terms | 10 year draw period with a 10 or 15 year payback period based on lien position |
| Payment | Fixed principle and interest payment | Principle and interest payment that can change based on rate and loan balance |
| Funding | Lump sum distributed at closing | Funds drawn as needed with a minimum advance of $4000 |
| Borrowing Limits | All liens cannot exceed 80% of the appraised value of the home | All liens cannot exceed 80% of the appraised value of the home |
| Purpose | Good for immediate needs such as home improvement or debt consolidation | Good if funds are not needed immediately or not needed all at once. Example would be school tuition or a home build where the builder is paid in incremental draws |
*APR is Annual Percentage Rate based on creditworthiness. The home equity line of credit APR is variable and is based on the highest Prime Rate published each month-end in The Wall Street Journal Money Rates Table (the "Index"), +/- a margin based on creditworthiness. The maximum APR is 18.00%. If necessary, additional fees may be required for title search, appraisal fee, lien recording fee and/or title company closing costs and document preparation fees.
**Interest on your Home Equity or HELOC loan may be tax-deductible – please consult your tax advisor regarding the deductibility of interest. NMLS 707628
Use this calculator to determine your projected earnings from our Kasasa Cash account. Move the sliders or type in the numbers to see your potential rewards.
- Estimated Annual Rewards $0
- Estimated monthly dividends earned* $0
- Monthly ATM fees refunded**$0
This calculator compares the costs of buying or leasing a vehicle. There are three sections to complete, and you can adjust and experiment with different scenarios.
- Net cost of buying $0
- Net cost of leasing $0
A fixed-rate, fixed-term Share Certificate can earn higher returns than a standard savings account. Use this calculator to get an estimate of your earnings. Move the sliders or type in numbers to get started.
- Total value at maturity $0
- Total dividends earned $0
- Annual Percentage Yield (APY)0.000%
Whether it's a down payment, college, a dream vacation...a savings plan can help you reach your goal. Use the sliders to experiment based on length of time and amount per month.
- Monthly deposit needed to reach goal $0
This calculator can help you get a general idea of monthly payments to expect for a simple loan. Move the sliders or type in numbers to get started.
- Estimated monthly payment $0
- Total paid $0
- Total interest paid $0
Auto Loans
| Term | Annual Percentage Rate | Payment Per $1000 |
|---|---|---|
| up to 60 months | as low as 4.99%* | $17.62 |
| up to 66 months | as low as 5.89% | $17.89 |
| up to 72 months | as low as 6.39% | $16.87 |
| up to 84 months | as low as 6.89% | $15.02 |
*4.99% on new loans, not eligible for in-house refinance - 5.49% for internal refi
Business Plus Checking
| Balance | Annual Percentage Yield (APY) |
|---|---|
| 0 - $2,499.99 | - |
| $2,500 - $49,999.99 | 0.65% |
| $50,000 - $99,999.99 | 0.75% |
| $100,000 - $149,999.99 | 0.85% |
| $150,000 - $249,999.99 | 0.95% |
| $250,000+ | 1.70% |
Business Savings
| Balance | Annual Percentage Yield (APY) |
|---|---|
| 0 - $2,499.99 | 0.05% |
| $2,500 - $49,999.99 | 1.05% |
| $50,000 - $99,999.99 | 1.05% |
| $100,000 - $149,999.99 | 1.15% |
| $150,000 - $249,999.99 | 1.25% |
| $250,000+ | 2.00% |
Home Equity Loans
| Term | Annual Percentage Rate | Payment Per $1000 |
|---|---|---|
| up to 60 months | as low as 5.49% | $19.27 |
| up to 120 months | as low as 5.79% | $11.16 |
| up to 180 months | as low as 5.99% | $8.64 |
| up to 240 months | as low as 6.49% | $7.62 |
IRA Share Certificates: $1,000.00 or Greater
| Certificate Term | Dividend Rate |
|---|---|
| 3 Month IRA Certificate | 3.00% |
| 6 Month IRA Certificate |
3.95% |
| 12 Month IRA Certificate | 4.20% |
| 18 Month IRA Certificate | 4.10% |
| 24 Month IRA Certificate | 3.90% |
| 36 Month IRA Certificate | 3.70% |
| 48 Month IRA Certificate | 3.50% |
| 60 Month IRA Certificate | 3.45% |
Membership Required. Rates subject to change without notice. $1,000 minimum opening deposit required. Only New money eligible for promotional rate. CD will auto renew at standard rate at maturity unless otherwise stated. Early withdrawal penalty will apply. Early withdrawals may result in penalties. Terms of less than 12 months lose 90 days’ interest. Terms 12 months to less than 36 months lose 180 days’ interest. Terms of 36 months or longer lose 270 days’ interest. The penalty will be deducted from earnings and may reduce principal balance. New money is defined as money not currently on deposit with Capitol Credit Union.
Kasasa Cash*
| Balance | Rate | APY |
|---|---|---|
| 0 - $15,000.00 | 5.84% | 6.00% |
| $15,000.01+ | 1.00% | 6.00% to 1.65% |
| All balances if qualifications not met | 0.05% | 0.05% |
Kasasa Saver*
| Balance | Rate | APY |
|---|---|---|
| 0 - $100,000 | 3.93% | 4.00% |
| $100,000+ | 1.08% | 4.00% to 1.00% |
| All balances if qualifications not met | 0.05% | 0.05% |
Lines of Credit/Credit Card
| Product | Term | Annual Percentage Rate | Minimum Payment |
|---|---|---|---|
| Personal Line of Credit | Revolving | as low as 10.99% | $25.00 |
| Visa Classic Credit Card | Revolving | as low as 10.99% | Greater of 3% of balance or $30.00 |
| Visa Capitol Rewards Credit Card | Revolving | as low as 11.99% | Greater of 3% of balance or $30.00 |
Non-collateralized Loans
| Term | Annual Percentage Rate | Payment Per $1000 |
|---|---|---|
| up to 60 months | as low as 10.99% | $21.41 |
| up to 72 months | as low as 11.99% | $19.17 |
| up to 84 months | as low as 12.99% | $17.72 |
Other Collateralized Loans (Boat, Motorcycle, Camper, ATV, Etc.)
| Term | Annual Percentage Rate | Payment Per $1000 |
|---|---|---|
| up to 60 months | as low as 7.29% | $20.04 |
| up to 72 months | as low as 7.79% | $17.54 |
| up to 84 months | as low as 8.29% | $15.84 |
| up to 120 months | as low as 8.79% | $12.67 |
| up to 180 months | as low as 9.29% | $10.45 |
Plus Money Market
| Balance | Annual Percentage Yield (APY) |
|---|---|
| 0 - $2,499.99 | - |
| $2,500 - $49,999.99 | 1.05% |
| $50,000 - $99,999.99 | 1.05% |
| $100,000 - $149,999.99 | 1.15% |
| $150,000 - $249,999.99 | 1.25% |
| $250,000+ | 2.00% |
Savings Accounts
| Account Type | Annual Percentage Yield (APY) |
|---|---|
| Savings Accounts | 0.01% |
| IRA Savings Account | 0.75% |
| Holiday Club Account | 0.10% |
Secured Loans
| Source | Annual Percentage Rate | Term |
|---|---|---|
| Share Account | 5.00% | up to 84 months |
Payment example: pay just $13.91/month for every $1000 borrowed at 5.00% APR on an 84 month term.
Share Certificates: $1,000.00 or Greater
| Certificate Term | Annual Percentage Yield (APY) |
|---|---|
| 3 Month Certificate | 3.00% |
| 6 Month Certificate | 3.95% |
| 12 Month Certificate | 4.20% |
| 18 Month Certificate | 4.10% |
| 24 Month Certificate | 3.90% |
| 36 Month Certificate | 3.70% |
| 48 Month Certificate | 3.50% |
| 60 Month Certificate | 3.45% |
Membership Required. Rates subject to change without notice. $1,000 minimum opening deposit required. Only New money eligible for promotional rate. CD will auto renew at standard rate at maturity unless otherwise stated. Early withdrawal penalty will apply. Early withdrawals may result in penalties. Terms of less than 12 months lose 90 days’ interest. Terms 12 months to less than 36 months lose 180 days’ interest. Terms of 36 months or longer lose 270 days’ interest. The penalty will be deducted from earnings and may reduce principal balance. New money is defined as money not currently on deposit with Capitol Credit Union.
