Home Equity Loans

Home Equity and Home Equity Line-of-Credit (HELOC) are available directly through the KTFCU.

You can find our latest loan rates HERE.

For more information on how we manage Direct Deposits and Electronic Funds Transfers (EFT), click HERE.

Benefits of a Home Equity Loan.

• Fixed rate loans available from $15,000 to $150,000 with 5-year to 15-year terms.
• Variable rate loans available from $10,000 to $75,000 with a maximum 20-year draw period followed by a maximum 15-year repayment period.
• Loans are available at 80% of market value (less current mortgage balance) or 90% if OwnersChoice Funding is the first mortgagee.
• Closing fees apply.
• Pro-rated pre-payment penalties may apply.
• To apply, click the APPLY FOR A LOAN button.
• You can apply online or print the application and drop it off at the Credit Union.
• Home Equity payments can be automatically deducted from your Share or Share Draft account.

Information Required as Part of the Approval Process.

• Verification of income for all borrowers – paystubs within the past 30 days and all other income sources
• Statement of current mortgage – if applicable
• Deed and Survey
• Receipted tax bills
• Homeowners insurance policy
• Photo ID for all borrowers

You can expedite the loan evaluation process by uploading this information when you apply on-line. Click the APPLY FOR A LOAN button to begin the on-line loan application process. Alternatively, you can email this information to newloans@kenteachfcu.com or fax it to (716) 877-6456.