Home Equity Line Of Credit

Note: This loan product is only available to members living in a Texas residence.

**TEXAS PROPERTIES ONLY**

Our HELOC program is the best in Texas! If you have equity in your home, you may qualify for a HELOC. A HELOC allows you to access the funds you need, when you need them. You could borrow up to 80% of your home's tax appraisal value (minus any other liens), to use for home improvement projects, debt consolidation, or anything else!

For more information call our Amarillo branches at 806.373.0736.

HELOC Minimum	$10,000
HELOC Maximum	No max (with approved credit)
Minimum HELOC Advance	$4,000
Annual HELOC Advances Allowed	Unlimited

Frequently Asked Questions:

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Do I have to use the money for home improvements?

No. The advances on the HELOC can be used for any purpose. We have members who use the HELOC to help fund their child's college education. Retirees use the HELOC to supplement their retirement income. We have members who get really innovative with the borrowing power of a HELOC and use it for investment purposes or debt consolidation.
Are the interest rates better than other loan options?

The interest rates are variable and at SFFCU our HELOC rates start at 100 basis points below prime (floor of 4%). Members enjoy the convenience of a ten year draw period with the flexibility of interest only minimum monthly payments! The repayment period starts after that with equal monthly payments of principal and interest for the next ten years. The flexibility of our HELOC is accommodating to every member's situation!
Is the interest tax deductible?

In general, the interest on a HELOC is tax deductible. Ask your tax adviser for more information on this.
Are there fees and closing costs?

In rare instances only, but not usually. And no escrow accounts are required.

Home Equity Line Of Credit

Frequently Asked Questions:

Do I have to use the money for home improvements?

Are the interest rates better than other loan options?

Is the interest tax deductible?

Are there fees and closing costs?

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