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Last Updated: 04/18/2025

Amplify CU Home Equity Line of Credit

from Amplify Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

N/A

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

Up to 10

Amplify CU Home Equity Line of Credit Review

Amplify CU Home Equity Line of Credit is offered by Amplify Credit Union (NMLS #530487), a credit union founded in 1967 and based in Austin, TX. Amplify CU Home Equity Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Amplify CU Home Equity Line of Credit.

Amplify CU Home Equity Line of Credit Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

Amplify CU Home Equity Line of Credit FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $500,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

Typically, borrowers with good credit can qualify for up to 85% of the property value, minus the balance on their first mortgage.

What are the terms for Amplify CU Home Equity Line of Credit?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

Amplify CU Home Equity Line of Credit offers home equity loans with a maximum term of 10 years and a draw period of up to 10 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Amplify CU Home Equity Line of Credit charge for a HELOC?

Amplify CU Home Equity Line of Credit may charge an origination fee.

What types of property can you use as security for a HELOC with Amplify CU Home Equity Line of Credit?

Amplify Credit Union may consider HELOCs secured by the following property types:

Primary residences
Secondary or vacation homes

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

3600 W Parmer Ln

Austin, TX 78727

(800) 237-5087

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Email Support

Hours of Operation

SundayClosedMonday8:30AM - 5:30PMTuesday8:30AM - 5:30PMWednesday8:30AM - 5:30PMThursday8:30AM - 5:30PMFriday8:30AM - 5:30PMSaturdayClosed

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SuperMoney Net Recommendation Score

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-1000+100

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