Home Equity Loans
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
- Use to consolidate loans
- May be tax deductible
Requirements
- Telco member
- Appraisal must be done on property
Variable Rate Home Equity
Key Features
- Rates as low as 6.5%
- 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
Fixed Rates
| Term | Rate |
|---|---|
| 7 Years | 8.50% |
| 8 Years | 8.75% |
| 9 Years | 9.00% |
| 10 Years | 9.25% |