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Mission statement

To provide for the well-being of our Members. Note that no references to finance or banking appear in this statement; that is by design. At its core, UFCU serves a broader purpose that emphasizes concern for people. People matter! The Member is at the heart of all we do.

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Home Equity

Home Equity

Do you need more than just a little cash? Would you like to pay off bills at a lower interest rate, take your dream vacation, or do some improvements around the house? A UFCU home equity loan could be the solution. Our home equity loans are an easy, low interest way to get the cash you need. You can borrow up to 80% of the market value of the home - minus any liens against the property. Use the funds for any purpose, and the interest is usually tax deductible (consult your tax advisor for exact details). You can borrow from $30,000 to $125,000 with terms ranging from 5-15 years.

For more information, contact our Real Estate experts.


Frequently Asked Questions

How do I apply?

You can apply for pre-approval by phone at 997-HOME during normal business hours or online 24 hours a day, 7 days a week. My tax appraisal is lower than what my house is actually worth. What value will you use?

What is the interest rate?

The interest rate depends on the term of the loan and the current day's interest rate environment.

 How long does it take to get the money?

By Texas law there is a minimum 12-calendar day "waiting" period from the time of the written application and Texas Home Equity Loan Disclosure are received to the day you can close. Once you are ready to close the loan, you must see and approve your Settlement Statement at least 24 hours before the closing. After closing, there is an additional 3-business day "right of rescission" period before the loan can be funded. The right of rescission period is required by both state and federal laws. Therefore, the minimum time it will take to receive the money is 17 days. Processing time may vary from loan to loan and may, in some cases, exceed 17 days.

 What can I use the equity for?

Anything you want. The money you borrow can be used for any purpose - to pay off bills, for home improvements, to take a vacation, to buy another property, etc.

 How much can I borrow?

According to Texas law, you can borrow up to 80% of the value of your home minus any liens against the property. For example:

Property value


Multiplied by 80%


Minus your mortgage balance


Means you can borrow




University Federal Credit Union NMLS #441215
8303 N MoPac Expressway Ste A105, Austin, TX  78759
Office:  (512) 997-4663
Toll Free:  (800) 476-8409
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