A “line of credit” secured by the equity in your home.
Home Equity Loans are simply a “line of credit” secured by the equity in your home. Telco offers two types of Home Equity Loans:
Fixed Rate Home Equity
Key Features
- Credit Lines from $10,000 to $100,000
- 80% Loan To Value less existing liens OR $100,000.00 (whichever is less)
Key Benefits
- No origination fees
- Use to consolidate loans
- May be tax deductible
- Member can obtain advances of credit for up to 5 years
Requirements
- Telco member
- Appraisal must be done on property
Variable Rate Home Equity
Key Features
- Rates as low as 5%
- Credit lines from $5,000 to $250,000
Key Benefits
- Use to consolidate loans
- May be tax deductible
- Member can obtain advances of credit for up to 10 years
Requirements
- Telco member
- Appraisal must be done on property