With a Tyndall Federal Home Equity Line of Credit Loan, you are approved for a revolving line of credit, using your home as collateral. As with a credit card or personal line of credit loan, you are approved for a specific credit limit, but your payments are based only on what you borrow at any given time. You apply for the loan only once; then you can borrow against it any time you wish (up to the established limit). As you repay the loan, you may borrow against it again and again - that established credit line makes the extra cash available quickly when you need it.

• Funds are easily accessible.
  
  
• Simply write a Home Equity check; the minimum advance (draw) is $100, but you may write checks as often as you wish, up to the established credit limit
• Transfer the necessary funds by phone with GENIE24
• Advance the loan through Online Banking
• Stop by any branch location and access your Home Equity Line of Credit at the teller line
• Contact our Call Center at (850) 747-4300 or toll-free at 888-896-3255


• The interest rate is variable and is tied to the Prime Rate as listed in the Wall Street Journal. Interest rate may change quarterly.  Annually, your payment may change as a result of changes in the Prime Rate throughout the year.


• Payments are calculated by amortizing the loan amount for the remaining loan term and may change monthly due to payments and advances.


• Home Equity Lines of Credit available on primary and secondary residences, including approved condominiums


• May be used for home purchases, refinances, or available home equity


• Keep track of your Home Equity Loan online through Online Banking.


• Borrow up to 80% of the equity in your home, for qualified borrowers.


• Tyndall Federal Credit Union may pay all closing costs (up to a maximum of $500)* on qualified properties.


• The interest you pay may be tax deductible (please consult your tax advisor).