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HELOC
HELOC

Home equity may be the best way to achieve your goals

Renovate your home, add a swimming pool, pay for college, fund a getaway, or maybe just set aside funds to draw from. With lower rates than most personal loans, tapping into your Home Equity may be the smartest way to fund your goals this year.

We offer 3 ways to borrow from your home's equity: Home Equity Line of Credit, Cash-Out Refinance, and Texas Home Improvement Loan. Keep reading to learn how each loan works.

HELOC NEW!

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.

View Rates & Terms

Finance up to 80% of your home's value. To estimate, take your home's tax-assessed value x .80 minus your remaining mortgage balance (if you have a mortgage). This is how much you may be able to borrow based on your available equity.

Cash-Out Refinance

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

View Rates & Terms

Finance up to 80% of your home's value. To estimate, take your home's tax-assessed value x .80 minus your remaining mortgage balance (if you have a mortgage). This is how much you may be able to borrow based on your available equity.

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.

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Finance up to 90% of your home's value. To estimate, take your home's tax-assessed value plus 75% of the cost for improvements x .90 minus your remaining mortgage balance. This is how much you may be able to borrow based on your available equity.

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, click here.

Don't know where to start? Click below to complete a short form and get the ball rolling. Someone will be in touch shortly.

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)
• How long you would like to finance your loan (not applicable to HELOCs)

Rates and Fees

Mortgage Loans

We have a variety of loan options for you to choose from. From FHA Loans to Fixed and Adjustable Rate, we will find the best option for you. Smart Financial offers the best mortgage tools to provide easy, convenient, online shopping for the best loan programs and most up-to-date rates available.

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Personal Lot Loans

A lot loan is a mortgage secured by land with the intention of building a residence. Once a house is built and suitable for occupancy, a permanent mortgage loan replaces the lot and construction financing. We offer up to 75% financing on approved credit with an adjustable rate loan that is fixed for the first 3 years and amortizes over 15 years to keep your payments affordable.

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Questions? Speak to a Lending Specialist

New Home Equity or Mortgage loan
Call us at 713-407-1830 or email us at mortgagelending@smartcu.org.

Existing Home Equity or Mortgage loan
Call us at 713-407-1850 or email us at mortgageservices@smartcu.org.

NMLS #456807

Loan Specialists are available by phone 9 am - 5 pm (M, T, Th, F) and 9 am - 2 pm (Wednesdays).

1 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. SUBJECT TO CHANGE WITHOUT NOTICE.

2 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. SUBJECT TO CHANGE WITHOUT NOTICE.

3 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. SUBJECT TO CHANGE WITHOUT NOTICE.