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 $100,000
- 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
How do I apply for a loan with ElecTel?
Fax: Print the online application, and then fax it to (919) 876-8018.
Phone: Call us at 1-800-849-5600 and a loan officer will take your loan application over the phone during normal business hours.
Mortgage Loan Originator (MLO) #s
684249 Lindsey Roten
684251 Sheral Williams Graves
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* – annual percentage rate