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As a homeowner, you can use the value built up in your home to pay for one-time or ongoing expenses. Smart use of this asset starts with understanding how home equity works and with selecting the right home equity loan to fit your needs.

When you use your home equity for a loan or line of credit, you’ll typically pay a lower interest rate than other financing methods such as unsecured loans and credit cards. The interest paid may be tax-deductible (consult your tax advisor). Using your home equity is a popular and viable funding alternative, especially if you want to avoid using your savings to take care of these expenses.

Using your home equity allows you to:

  • Utilize the benefits of home ownership
  • Take advantage of lower interest rates compared to other financing methods
  • Keep your savings intact

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What's on your To-Do list?

new roof home equity

Save on your A/C Bill with a new roof

new flooring home equity

Entertain on your new wood deck

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Save cash with energy efficient windows

new kitchen home equity

Unleash your inner-gourmet with a kitchen upgrade

new bathroom home equity

Upgrade your bathroom

 

Which Home Equity Account is Right for You?

One of the smartest financial tools in this current economy is the roof over your head – your home. As a homeowner, you can use the value built up in your home to pay for one-time or ongoing expenses. Smart use of this asset starts with understanding how home equity works and with selecting the right home equity loan to fit your needs.

Step 1

How will you use your funds?

ONE-TIME Expenses

  • Bill consolidation
  • Down payment on another property
  • Purchase of a car

ON-GOING Expenses

  • Home improvements
  • College tuition
  • Medical expenses
  • A wedding, baby or other life event

Step 2

What loan options are you seeking?

ONE-TIME Expenses

  • Low rate
  • Fixed term and monthly payments
  • Receive funds in a single lump sum

ON-GOING Expenses

  • Low variable rate
  • Access to available credit line
  • Available credit without reapplying

Step 3

Your Travis loan option!

Home Equity Loan

  • Fixed-rate, fixed term loan
  • Fixed monthly payments

Home Equity Line of Credit

  • Reusable HELOC on available balance
  • Interest-only payments during draw period (10 years)
  • No upfront fees*

Use home equity financing as a smart financing tool

The value of your home is an asset that, if used wisely, is a smart financial tool for homeowners. When you use your home equity for a loan or line of credit, you’ll typically pay a lower interest rate than other financing methods such as unsecured loans and credit cards. The interest paid may be tax-deductible (consult your tax advisor). Using your home equity is a popular and viable funding alternative, especially if you want to avoid using your savings to take care of these expenses.

Using your home equity allows you to:

  • Utilize the benefits of home ownership
  • Take advantage of lower interest rates compared to other financing methods
  • Keep your savings intact

What can I do with my home equity?

Your home equity ensures you have the financial resources available when you need them. For example, you can pay for ongoing expenses such as home improvement projects, college tuition or medical expenses. One-time expenses include buying a new car, a large tax bill or a life event such as a wedding. You could also consolidate your bills and improve your cash flow. It’s all up to you!

Use your home equity to fund:

  • Home improvement projects
  • Consolidate bills
  • Educational expenses
  • Life events such as a wedding or new baby
  • A new car

What makes home equity financing better at Travis?

Travis Credit Union is based in Vacaville with 22 branches throughout Northern California. We are your local lender and service all of our real estate loans in house. Our friendly and knowledgeable mortgage loan consultants will listen to your concerns, explain the different home equity loans available and walk you through the application requirements. Your loan application will be processed quickly and efficiently, so you can get on with life.

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*No upfront fees will be charged for HELOC loans that are kept active for a minimum of 3 years. The $50 annual fee for our HELOC will be waived on active accounts with balances of at least $5,000 on Dec. 31. NMLS registered. Equal Housing Opportunity.

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