Home Equity Line of Credit

Use your valuable home equity to make home improvements, pay for college, consolidate bills, or for any other good reason with a home equity loan. You’ll get a low interest rate and access to more money than with an unsecured loan. You may also be able to take advantage of certain tax savings, just ask your tax professional.

  • Line of credit up to $250,000
  • NO closing costs
  • Borrow up to 90% loan to value, less existing liens
  • Minimum advance is $250
  • Once limit is established, future advances are just a phone call or convenience check away
  • There is no prepayment penalty for early payoff
  • Interest may be tax deductible (consult with your tax advisor regarding the deductibility of interest)
  • During the draw period, you may keep the credit line open even if it has a zero balance
  • Excellent choice for members who want ongoing access to funds

Interested in a home equity line of credit? Apply now!

Institution NMLS #414996

How do I apply for a loan with ElecTel?

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Call or visit us today to get started!