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Tap into the value of your home—and make it work for you. Tower’s Home Equity Loans can help you renovate your home, make repairs, pay for unexpected medical bills, consolidate debt —and more! Your security is our first priority, so we offer an online application process that is fast, easy, safe.

Tower’s Home Equity Line of Credit, or HELOC, lets you conveniently take advantage of the equity you’ve built in your home. Take money out in smaller chunks, rather than a big pay out, and use it for anything like repairs, renovations, or college tuition. And the best part, you only pay back what you use, when you use it.

  • Borrow up to 100% of your home’s equity
  • Closing costs paid by Tower*
  • Interest could be tax deductible – check with a tax advisor
  • Free, unlimited supply of home equity line checks
  • Interest accrues only on amount you borrow

Our Home Equity Line of Credit is available to you anytime. Make purchases or payments in minutes—as easy as writing a check or transferring funds with our Mobile App or via Home Banking.

Apply Now


Available in all states except Texas. Other restrictions may apply.

Closing Costs
For loan amounts up to $250,000, closing cost typically range between $500 and $3,000. Homeowner’s insurance is required.

Closing costs paid by Tower on Member’s behalf must be repaid if line of credit or loan is closed within the first 24 months.

Closing costs depend on the property location, property type, occupancy and loan amount.

See additional disclosures.

You’ve built some great equity in your home—so now put it to work. With Tower’s Home Equity Loan, you can pay for what you need, whether it be a renovation, college tuition, or any other large expense you may have coming up. Home Equity Loans are paid out in one lump sum and are available with adjustable or fixed rates—and flexible terms.

  • Terms of 5 to 15 years
  • Borrow up to 100% of your home’s equity
  • Closing costs paid by Tower*

Apply Now

Available in all states except Texas. Other restrictions may apply.

Closing Costs
For loan amounts up to $250,000, closing cost typically range between $500 and $3,000. Homeowner’s insurance is required.

Closing costs paid by Tower on Member’s behalf must be repaid if line of credit or loan is closed within the first 24 months.

Closing costs depend on the property location, property type, occupancy and loan amount.

See additional disclosures.

Rates are subject to change at anytime.
APR = Annual Percentage Rate.
Multiply the payment factor by each thousand dollars borrowed for the monthly payment.

Home Equity Rates
Loan TypeRatesAPRPayment Factor
(per $1,000)
Fixed
15 Year - up to 80% LTV / CLTV5.990%5.990%$8.4332
15 Year - from 80.01% to 100% LTV / CLTV6.990%6.990%$8.9827
10 Year - up to 80% LTV / CLTV5.250%5.250%$10.7292
10 Year - from 80.01% to 100% LTV / CLTV6.250%6.250%$11.2280
7 Year - up to 80% LTV / CLTV4.750%4.751%$14.0167
7 Year - from 80.01% to 100% LTV / CLTV5.750%5.751%$14.4890
5 Year - up to 80% LTV / CLTV4.500%4.501%$18.6430
5 Year - from 80.01% to 100% LTV / CLTV5.250%5.501%$18.9860
30 Year Amortization / 15 Year Balloon
30/15 up to 80% LTV / CLTV5.990%5.990%$5.9891
30/15 from 80.01% to 100% LTV / CLTV6.990%6.990%$6.6463
Line of Credit Adjustable Rate
Home Equity Line of Credit up to 80% LTV / CLTV4.750%4.750%$3.9583
Home Equity Line of Credit from 80.01% to 100% LTV / CLTV6.250%6.250%$5.2083

Home Equity Loans
Maximum loan amount for a 5 year and 7 year term is $100,000

Maximum loan amount for a 10 year and 15 year term is:
$250,000 for LTV / CLTV > 80%
$318,000 for LTV / CLTV < 80%

APR for 5 year and 7 year terms is based on a loan amount of $100,000 and $4.00 in other fees
APR for 10 year and 15 year terms is based on a loan amount of $250,000 and $4.00 in other fees


30 Year Amortization / 15 Year Balloon Loans
30 yr. amortization / 15 yr. balloon loans must be paid at maturity with a lump sum or balloon payment

APR for 30 yr. amortization / 15 yr. balloon loan is based on a loan amount of $250,000 and $4.00 in other fees


Home Equity Line of Credit
Home Equity Line of Credit minimum monthly payment will be based on the outstanding balance.

For Home Equity Line of Credit up to 80% LTV / CLTV, variable rate is based on Prime rate minus 0.50%

For Home Equity Line of Credit 80.01 – 100% LTV / CLTV, variable rate is based on Prime rate plus 1.00%

APR can change each quarter.

The maximum APR is 18.00%

Rates are subject to increase after consummation.

Current Prime rate : 5.25%


Closing Costs
For loan amounts up to $250,000, closing cost typically range between $500 and $3,000. Homeowner’s insurance is required.

Closing costs paid by Tower on Member’s behalf must be repaid if line of credit or loan is closed within the first 24 months.

Closing costs depend on the property location, property type, occupancy and loan amount.


General Home Equity Disclosures
Combined loan/line amounts secured by subject property may not exceed $1.0 million for LTV’s / CLTV’s > 80%.

Available in all states except Texas

Rates effective: 8/22/2019

Not a member of Tower Federal Credit Union yet? See if you are eligible to join!

For further assistance, please visit a branch or call our Member Service Center at 301-497-7000 or 866-56-TOWER.