Home Equity Solutions
We'll help your home's equity work for you. Lines of credit as low as8.00% APR1
Need access to cash for a large expense? Want to be mortgage-free faster?
Truliant is here to help.
- No closing costs2
- Flexible loan terms
- No prepayment penalties3
- Excellent interest rates
Whether you’re looking for a lower-rate option for a large purchase, like home improvements or debt consolidation, or to pay off your mortgage faster, Truliant offers the ultimate home equity options to help you get to where you want to be – faster. Plus, you’ll enjoy no closing costs, no prepayment penalties, and we’ll even reimburse you any appraisal fees when the loan closes!
Mortgage Buster
Pay off your mortgage faster with our Mortgage Buster loan, a fixed-rate home equity loan with no closing costs! With loan amounts up to $350,000 and terms up to 15 years, you can pay off your mortgage quickly, or even combine a mortgage and home equity loan!
Home Equity Line of Credit
- Variable rates starting as low as 8.00% APR1
- Use your line of credit during the draw period for up to 15 years - borrow, repay and borrow again4
- Borrow up to 85% of your home’s value
- Line of credit amount from $10,000 to $350,000
- Minimum monthly payment is 1% of the outstanding balance
- Access funds through home equity line checks, or use online or mobile banking to transfer the money directly into your Truliant checking account
- No closing costs2, no maintenance fees and no prepayment penalties3
Mortgage Buster
- Fixed rates starting as low as 7.00% APR1
- Borrow up to 85% of your home’s value
- Loan amounts from $25,000 to $350,000
- 120 - 180 month terms for first lien position only5
- No cash out
- Available for owner-occupied primary and secondary or vacation home6, condominium, town home, manufactured or modular homes7
Home Equity Loan
- Fixed rates ranging from 7.50% APR - 8.80% APR1
- Borrow up to 85% of your home’s value
- Loan amounts from $10,000 to $350,000
- 120 - 240 month terms for first or second lien positions8
- Available for primary and vacation/second home6, single family, condominium, town home, manufactured or modular homes7
What should I expect when applying for a home equity loan?
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Apply at one of our branches, over the phone, or online using our quick, convenient digital application, available virtually anywhere.
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Once you apply, we will help to walk you through the rest of the process so if you ever have a question, we're here for you. If you applied online, you can expect the same personalized attention from one of our Digital Guidance Team members.
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Once a decision has been made on your application, a home equity processor team member will contact you to discuss your loan amount, terms and payment information.
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Your funds are ready whenever you are.
What's the difference between loans and lines of credit?
Home Equity Loans
Home equity loans are a lump, one-time loan so you can receive the full amount you need right away. If you have a big project you'd like to complete soon, a home equity loan could be right for you.
Home Equity Line of Credit
Home equity lines are a continuous loan that you can use whenever you need it. You only pay interest on the amount you use and draw as much as you need up to your limit. If you're considering needing some extra funds over the long-haul, this may be a good option for you
How Do Home Equity Loans Work
You've probably heard that your home is one of your most valuable assets, but did you know that with a home equity loan, you can make this equity work for you as you make upgrades, consolidate debt and more?
Learn all about home equity loans with our comprehensive article.
How large a credit line can I obtain?
Other Mortgage Tools and Resources
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(2) If an appraisal is deemed necessary, an appraisal fee will be collected at that time; total cost approximately $400-$600 and is non-refundable if the borrower does not close their home equity loan with Truliant. FEES IMPOSED BY THIRD PARTIES: If your home is located in SC or GA, an attorney in that state will charge approximately $250-$600 in SC and $300-$600 in GA to close your home loan. For SC loans, Truliant will pay up to $400 in closing cost attorney fees. For all states, certain third party fees are waived at loan origination. See your Home Equity Line of Credit Agreement (for home equity lines of credit) or Closing Disclosure (for home equity loans) for all fees related to this Agreement.
(3) If your account is paid in full and closed within 24 months, you will be required to reimburse the credit union for 50% to 100% (depending on when you close the account) of the closing costs paid on your behalf upon closing your account.
(4) Home Equity Line of Credit is a variable rate loan with a 15-yr open-end draw period with a maximum APR of 18.00%. The minimum monthly payment amount of a Home Equity Line of Credit is 1% of the outstanding loan balance or $50 minimum, whichever is greater.
(5) Must be in first lien position. Funds cannot be used for purchases. The estimated monthly payment on a $150,000, 10-year fixed-rate loan in first lien position at 7.00% APR is $1,742.
(6) Must be owner-occupied by borrower at least 14 days per year and be at least 60 miles from borrower's primary residence.
(7) Must be doublewide, on permanent foundation. Loan not available for investment property and cannot be used to purchase a residence.
(8) The estimated monthly payment in a second lien position on a $50,000, 10-year fixed rate Home Equity Closed End loan at 7.50% APR is $594.