Unlock Your Equity with an ELOC Loan

There are lots of reasons you may want to use your home's equity and TTCU has the best way for you to access it with our Equity Line of Credit loans. You can use your home's equity for home improvements, to consolidate debt, a much-needed vacation or just about anything you want. We offer great rates. Rates and terms are subject to change without notice. Here's how it works;

• Equity Line of Credit (ELOC) loans are loans secured by the equity in your primary residence.
• We may loan up to 100% of the value of your home. This includes the total of all mortgages including the proposed ELOC.
• Your approved credit line can be used all at once, or you may borrow it only as needed.
• Interest may be tax deductible.  Consult your tax advisor for tax deductibility.
• The minimum monthly payment is the accrued interest only or $30; whichever is greater, for 5 years (called the draw period).   Additional 5-year draw periods may be requested.  It is then converted to a 15-year amortized loan during which the payment includes both principal and interest (called the repayment period).
• You may access your ELOC by visiting a TTCU Teller, completing an ELOC draft which looks just like a personal check, by Virtual Branch, by calling 918-749-8828 or 800-234-8828 to request a transfer to your TTCU checking account or to have a check mailed to your address on file.
• During the draw period, you may keep the credit line open even if it has a zero balance.
• Minimum credit line, $10,000.
• An ELOC gives you more control & flexibility over your financial matters.
• No Closing Costs, Points or Annual Fees. *
• We have very competitive rates.
• 1 Month ARM, The initial rate is in effect for one month. After the first month the annual percentage rate is based on the value of an index plus a margin. The annual percentage rate may vary.  There is no floor and the maximum rate is 18%. .
• 3/1 ARM initial rates are fixed for 3 years! Initial rate is good for first three years. After 36 months, APR is based on an index plus a margin and may vary monthly.  There is no floor and the maximum rate is 18%.

* With approved credit. Rates are subject to change. Property and flood insurance may be required. You may be required to reimburse TTCU for ELOC closing costs if the credit line is closed within the first 3 years.

Click here to apply online, call TTCU today at 918-749-8828 or Toll Free 800-234-8828 to talk to a loan officer or come by any of our branch locations. Click here to print out the following list of what we need in order to process your loan. Click here for a brochure from HUD titled What You Should Know About HELOC.

Information Needed to Process Home Equity Line of Credit