Advertiser Disclosure

Texas

Best home equity loan lenders

National/regional

National

Max LTV

90%

Why we like it

Ideal for borrowers who want low fees. US Bank does not require application fees or closing costs on home equity loans. Origination fee is optional.

 

Learn More

at PenFed Credit Union

National/regional

National

Max LTV

90%

Why we like it

Ideal for customers seeking more than plain-vanilla services. PenFed offers a traditional home equity loan as well as interest-only HELOCs and lines with rate adjustments every five years.

 

National/regional

National

Max LTV

70-80%

Why we like it

Ideal for those who prefer an online experience. Rate discounts available if you sign up for Citibank Auto Deduct and link your HEL to a premier Citi banking account.

 

National/regional

National

Max LTV

100% (military)

Why we like it

Ideal for military families. Navy Federal offers multiple home equity loan and line of credit options and will pay “most closing costs” on new equity loan applications.

 

Learn More

at BB&T Home Mortgage

National/regional

Regional

Max LTV

80%

Why we like it

Ideal for borrowers seeking low fees. BB&T pays for the appraisal and does not charge prepayment fees.

 

National/regional

National

Max LTV

90%

Why we like it

Ideal for borrowers that want the convenience of an online experience. LoanDepot is one of the few non-bank lenders to offer a home equity product.

 

National/regional

National

Max LTV

89%

Why we like it

Ideal for those that are already a customer of Flagstar. Flagstar offers rate discounts for existing customers with high credit scores who withdraw at least $25,000 at closing.

 

National/regional

National

Max LTV

90%

Why we like it

Ideal for the homeowner who wants flexible repayment terms. Choose a repayment period of five to 20 years, with a fixed interest rate.

 

Best home equity loan lenders for a line of credit

Home equity lines of credit, or HELOCs, offer the convenience of drawing on your home’s equity only as you need it.

National/regional

National

Max LTV

90%

Why we like it

Ideal for equity borrowers looking for flexibility on loan terms. PNC HELOCs have locked fixed-rate terms of 5 to 30 years.

 

National/regional

National

Max LTV

89.9%

Why we like it

Ideal for homeowners who want flexibility. SunTrust offers a variable-rate HELOC where borrowers can convert all or part of the HELOC balance into a fixed-rate option.

 

Best cash-out refinance lenders

A cash-out refi can be a solid alternative to home equity lines of credit, and you’ll often find it offered with a lower, fixed interest rate. Below are two cash-out refinance lenders, but be sure to review our entire list of the best cash-out refinance lenders.

Learn more

at Rocket Mortgage

Min. credit score

620

National / regional

National

Why we like it

Ideal for refi borrowers with little time. Rocket Mortgage brings smart-phone app convenience to the refinance process. And online income and asset verification speeds the process.

 

Min. credit score

620

National / regional

National

Why we like it

Ideal for refinancing online or in person. Loan Depot has a fully-online application process as well as hundreds of affiliated lending centers across the nation. Well-rated for low customer complaint volume, too.

 

Learn More

at BB&T Home Mortgage

National/regional

Regional

Max LTV

80%

Why we like it

Ideal for borrowers seeking low fees. BB&T pays for the appraisal and does not charge prepayment fees.

Min. credit score

580/ 550 for FHA 30-year

Min. down payment

3%

Why we like it

Ideal for borrowers with low credit scores. About 95% of the mortgages Carrington makes are FHA, VA or USDA. About 45% of Carrington borrowers have FICO scores under 650.

testing link

Credit Union of Texas

Website: http://www.cuoftexas.org/schoolzone.html

Eligibility: Membership is open to anyone who:

  • Lives and works in Dallas, Collin, or Rockwall Counties; and the Lewisville, Red Oak, and Midlothian school districts
  • Is a student attending an institution of higher learning in Dallas, Collin, and Rockwall Counties (includes trade schools, junior college, and four-year colleges)
  • Is a member of a school-related associations and organizations created to serve or assist public or private schools.
  • Works or is a member of a qualifying company or organization
  • Organizations whose members are within CUofTX’s field-of-membership.
  • Is a family member of anyone eligible to join
  • Is an employee of CUofTX

Loans offered:

Loan Description Term APR Loan Limit
First-Year Teacher Loan To defray cost of moving until first paycheck (offered in August and September only) 12 months 0% $2,500
Alternative Teacher Certification Loan To help with certification costs 60 months 1% discount $5,000
Classroom Supply Loan To help school employees furnish classroom 12 months ? $750
Teacher Retirement Buy-Back Loan Buy back existing loans 60 months 1% discount $20,000
Home Possible Neighborhood Solution Teacher Program Purchase or refinance a mortgage with reduced insurance requirements N/A N/A N/A

Back to top

A+ Federal Credit Union

Website: http://www.aplusfcu.org

Eligibility: membership is open to all Texas residents, age 18 or older.

Loans offered:

Loan Description Term APR Loan Limit
Klassroom Kash To fund out-of-pocket classroom expenses ? 0% $500
Teacher Home Buyers Program Discounted rates on mortgages, including a 0.5% origination fee discount N/A 0.25% discount N/A
Bridge Loan For newly hired school district