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. Rates 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.


• Available on primary and secondary residences, including 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).



*APR=Annual Percentage Rate.  Loans subject to application and approval. Closing costs paid up to $500. If you cancel your home equity line of credit or pay off your home equity loan within 24 months, you may have to reimburse the credit union for closing costs. Loans may be amortized up to 15 years; $5,000 minimum loan. Property securing the loan must be insured until the loan is paid in full. Subject property must be your primary residence. Promotional rate, if available, is valid for loans repaid by automatic means only. Qualifying interest rate is based on creditworthiness. Promotional rates are  not applicable to existing Tyndall Home Equity Loans and are offered for a limited time only. Some restrictions apply. Consult with a tax advisor regarding the deductibility of interest.

Home equity lines of credit have a variable APR, with a minimum APR of 4.00% and maximum APR of 18%. Member eligibility required; an initial $1 non-refundable membership fee will apply. Offer subject to change without notice.