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Home Equity Lines of Credit (HELOCs) let you borrow again and again

Flexible Borrowing

HOME EQUITY LINE OF CREDIT

Home equity, when you need it

Texas HELOCs from Amplify Credit Union

Flexible Borrowing

HOME EQUITY LINE OF CREDIT

Home equity, when you need it

HELOC FEATURES

  |  Borrow, then borrow again

  • Variable rate line of credit that lets you access the available equity in your home1
  • Pay interest only on what you borrow
  • Make interest-only payments during the 10-year draw period; after the draw period, your balance converts to a 10-year installment loan with monthly principle and interest payments
  • No prepayment penalties for paying early or extra toward principal at any time
  • Line of credit available four (4) business days after loan closing
  • Local, personal service and multiple locations across Austin, Round Rock, and Cedar Park

Use this tool to help determine if a Home Equity Line of Credit is right for your needs

Help Me Choose!

Did you know that Amplify also offers great alternatives to HELOCs? Use this tool to help decide between an equity line of credit and one of our Homeowner Express Lines of Credit.


IDEAL USES FOR HELOCs

  |  Equity you can access again and again

A Home Equity Line of Credit is great for home improvements in stages

Home Improvement

A Home Equity Line of Credit is a great way to finance home improvement projects in stages over time, and they generally have much lower rates than home improvement store credit cards.

Consolidating payments into a HELOC can help save you money and pay off debt faster

Loan Consolidation

Consolidating your higher interest loan and credit card payments into your HELOC can help you save money and pay off debt faster. Learn how to consolidate debt responsibly with a HELOC.

Use your HELOC funds for anything

Other Common HELOC Uses

HELOC funds can be used for anything, but common uses include paying for college or school tuition, medical expenses, new furniture and appliances, and lifestyle upgrades like swimming pools and RVs.

HOME EQUITY CALCULATORS

  |  Crunch numbers before you apply

CALCULATE YOUR AVAILABLE HOME EQUITY

PAYMENT CALCULATOR

These calculators are for illustrative purposes only, and are based on information provided by the user. Accuracy is not guaranteed. All loans are subject to approval. Your actual APR (“Rates”) and terms may vary.

For Home Equity Loan calculations, the monthly payment calculations reflect only principal and interest, and amounts for taxes and insurance, if applicable, may increase your actual payment. The calculators will display results based on the currently available Rate and/or loan terms.

For Home Equity Line of Credit calculations, the draw period payment is interest-only payment, while the Repayment period payment includes both principal and interest. The calculators will display results based on the currently available APR and/or loan terms.

HOME EQUITY LINE OF CREDIT RATES

  |  Save money with Amplify

Rates Effective as of April 3, 2017

Credit Score APR2
780 + 3.50%
730 - 779 3.75%
680 - 729 5.50%
640 - 679 7.00%
600 - 639  - 

HELOC FAQs

  |  We have answers

FEES

Administration Fee $250
Prepayment Penalties NONE
Appraisal Fees NONE

Amplify’s complete Consumer Fee Schedule located HERE.

TIPS FOR FINANCIAL SUCCESS

  |  Because your financial success is ours



What HELOCs are and the basics of how HELOCs work

What is a HELOC?

An introduction to Home Equity Lines of Credit in Texas and how they're different than Home Equity Loans.

Ideas and information about uses for Home Equity Loans and HELOCs

Common Uses for Home Equity Loans

From financing big projects to paying for unexpected expenses, read about common home equity loan uses here.

Comparing the similarities and differences between Home Equity Loans and HELOCs

Home Equity Loans vs. HELOCs

Examine the similarities and differences between Home Equity Loans and Home Equity Lines of Credit.

How to add value to your home with home improvements

Increasing Your Home's Value

Which home improvements add the most value to your home when you sell? Find out here.

1. Under Texas law, the maximum you can borrow with a HELOC is 50% of the fair market value of your home, as long as the combined loan-to-value does not exceed 80% in cases where there is an existing first lien mortgage on the home. A minimum draw amount of $4000 is required for each advance after the initial $10,000 advance at origination.

2. The home equity line of credit Annual Percentage Rate (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 credit worthiness. The current Index is 3.75%. Maximum APR is 17.90%. This Account has a Draw Period of 10 years, after which you will be required to repay any amounts within a 10-year term. Interest on your HELOC may be tax-deductible – please consult your tax advisor regarding the deductibility of interest. Property Insurance, including flood insurance as needed, is required to be maintained by the borrower. Loans Subject to approval. Additional terms, conditions, and restrictions may apply. Amplify Membership required. Consult the CFPB's Home Equity Line of Credit booklet as well as the Early HELOC Disclosure for more information. Federally insured by NCUA.



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