MORTGAGE LOANS

Home Equity Loans

The equity in your home can be a great way to pay off debt.

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When your home's value increases, so does your home's equity.

Many people are struggling with rising debt and rising credit card balances. While it may seem impossible to get ahead, there's a solution right under your feet! Your home's value has most likely risen considerably over the past few years, giving you the power to tap into its increased value. With lower rates than most personal loans, tapping into Home Equity may be a great option to help get rid of credit card or other debt holding you down. Home Equity loans are an excellent way to raise cash for life's challenges.

We offer 3 other ways to borrow from your home's equity listed below: Home Equity Line of Credit, Cash-Out Refinance, and Texas Home Improvement Loan.

HELOC

A Home Equity Line of Credit allows you to draw funds as needed for any purpose. Funds are replenished as you pay down your balance. A good option if you have more than 20% equity in your home and want quick access to your money.

How much can I borrow?
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Cash-Out Refinance

A Cash-out Refinance (1st lien Home Equity Loan) creates a new mortgage and lets you borrow more than you owe, keeping the difference as cash (one lump sum). Use your funds for anything and enjoy the low rates with a Home Equity Loan!

How much can I borrow?
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Texas Home Improvement

From mid-size repairs to total renovation, a Home Improvement Loan can take your Texas property to a new level! Must hire a licensed contractor and be at least 30 days from the start of your project when applying for this loan.

How much can I borrow?
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Ask an expert

If you need funds, but don't know which loan to choose, we are here to walk you through all of your options to choose what's best for you!

If you would like to speak to a Home Equity or Mortgage Specialist immediately, call us at 713-407-1830.

Don't know where to start? Complete a short form and get the ball rolling!

Help Me

What should I know before starting my application?

  • Approximately how much you want to borrow.
  • The tax assessed value of your property.
  • Your current mortgage balance (if you have a mortgage).

*HELOC: RATE IS SUBJECT TO CREDIT APPROVAL AND WILL VARY BASED ON LIEN POSITION, TERM, AND LOAN AMOUNT. MINIMUM LOAN AMOUNT $15,000 AND MAXIMUM LOAN AMOUNT IS $250,000. INTRODUCTORY RATE IS FIXED FOR A 12-MONTH PERIOD THEN REVERTS TO A VARIABLE RATE BASED ON PRIME RATE PLUS A MARGIN. RATE WILL NOT DECREASE BELOW THE START RATE NOR WILL IT INCREASE ABOVE 15%. MAXIMUM LOAN TO VALUE IS 80%. RESTRICTIONS ON THE TYPE OF HOME USED AS COLLATERAL SUCH AS A MINIMUM PROPERTY VALUE OF $50,000. BORROWER MAY BE RESPONSIBLE FOR CERTAIN CLOSING COSTS WHICH MAY INCLUDE TITLE INSURANCE, APPRAISAL FEE, AND SURVEY COSTS. HAZARD INSURANCE IS REQUIRED, INCLUDING FLOOD INSURANCE, INCLUDING A $100 CLOSING COST AND AN ANNUAL FEE OF $50. CLOSING COSTS MAY NOT BE FINANCED UNDER THE TEXAS FINANCE CODE. ALL FEES ARE TO BE PAID UPFRONT BY THE BORROWER. DRAW PERIOD UP TO 10 YEARS WITH A REPAYMENT PERIOD OF 10 YEARS. DRAWS ARE RESTRICTED TO A MINIMUM OF $4,000 PER TEXAS LAW. SMART FINANCIAL CREDIT UNION MORTGAGE LOANS ARE AVAILABLE ONLY ON PROPERTY IN TEXAS. AS A SAFEGUARD, A 12-DAY COOLING-OFF PERIOD IS REQUIRED BY TEXAS LAW BEFORE HOME EQUITY LINES OF CREDIT LOANS MAY BE CLOSED. A 3-DAY RIGHT OF RESCISSION IS ALSO REQUIRED AFTER CLOSING BEFORE THE FUNDS MAY BE DISBURSED. OTHER CONDITIONS APPLY. SUBJECT TO CHANGE WITHOUT NOTICE.

CASH-OUT REFINANCE: FIXED RATE IS SUBJECT TO CREDIT APPROVAL AND WILL VARY BASED ON LIEN POSITION, TERM, AND LOAN AMOUNT. MAXIMUM LOAN TO VALUE IS 80% (CONDOS 70%). MINIMUM LOAN AMOUNT IS $15,000 AND MAXIMUM LOAN AMOUNT IS $250,000. RESTRICTIONS ON THE TYPE OF HOME USED AS COLLATERAL SUCH AS A MINIMUM PROPERTY VALUE OF $50,000. BORROWER MAY BE RESPONSIBLE FOR CERTAIN CLOSING COSTS WHICH MAY INCLUDE TITLE INSURANCE, APPRAISAL FEE, AND SURVEY COSTS. SMART FINANCIAL CREDIT UNION MORTGAGE LOANS ARE AVAILABLE ONLY ON PROPERTY IN TEXAS. AS A SAFEGUARD, A 12-DAY COOLING-OFF PERIOD IS REQUIRED BY TEXAS LAW BEFORE CASH-OUT REFINANCE LOANS MAY BE CLOSED. A 3-DAY RIGHT OF RESCISSION IS ALSO REQUIRED AFTER CLOSING BEFORE THE FUNDS MAY BE DISBURSED. OTHER CONDITIONS APPLY. SUBJECT TO CHANGE WITHOUT NOTICE.

TEXAS HOME IMPROVEMENT: FIXED RATE IS SUBJECT TO CREDIT APPROVAL AND WILL VARY BASED ON LIEN POSITION, TERM, AND LOAN AMOUNT. MAXIMUM LOAN TO VALUE IS 90% (CONDOS 70%). MINIMUM LOAN AMOUNT $15,000. RESTRICTIONS ON THE TYPE OF HOME USED AS COLLATERAL SUCH AS A MINIMUM PROPERTY VALUE OF $50,000. THIS TYPE OF LOAN REQUIRES A LICENSED CONTRACTOR, A SIGNED CONTRACT TO COMPLETE THE WORK AND PERIODIC DISBURSEMENTS. THE DISBURSEMENTS ARE MADE OUT TO BOTH THE HOMEOWNER(S) AND THE CONTRACTOR TO PAY FOR WORK COMPLETED TO THE BORROWER’S SATISFACTION. CLOSING COSTS ASSUMED BY BORROWER. SMART FINANCIAL CREDIT UNION MORTGAGE LOANS ARE AVAILABLE ONLY ON PROPERTY IN TEXAS. AS A SAFEGUARD, A 12-DAY COOLING-OFF PERIOD IS REQUIRED BY TEXAS LAW BEFORE HOME IMPROVEMENT LOANS MAY BE CLOSED. A 3-DAY RIGHT OF RESCISSION IS ALSO REQUIRED AFTER CLOSING BEFORE THE FUNDS MAY BE DISBURSED. OTHER CONDITIONS APPLY. SUBJECT TO CHANGE WITHOUT NOTICE.