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Last Updated: 04/18/2025

Teachers FCU Home Equity Line of Credit

in Home Equity Lines of Credit from Teachers Federal Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$25,000 - $1,000,000

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

Up to 20

Teachers FCU Home Equity Line of Credit Review

Teachers FCU Home Equity Line of Credit is offered by Teachers Federal Credit Union , a credit union founded in 1974 and based in Hauppauge, NY. Teachers FCU Home Equity Line of Credit are available in 50 states, 5 US territories, and Washington, DC.

Key Takeaways

No primary residences considered. Teachers FCU Home Equity Line of Credit does not offer financing for primary homes.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

Teachers FCU Home Equity Line of Credit Pros & Cons

Pros

Cons

Available in 55 states.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.

Teachers FCU 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 $1,000,000. 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 Teachers FCU 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.

Teachers FCU Home Equity Line of Credit offers home equity loans with a maximum term of 20 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 Teachers FCU Home Equity Line of Credit charge for a HELOC?

Teachers FCU Home Equity Line of Credit may charge an origination fee.

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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

2410 North Ocean Avenue, Farmingville

Hauppauge, NY 11738

(800) 341-4333

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

9:00AM - 5:00PM

Tuesday

9:00AM - 5:00PM

Wednesday

9:00AM - 5:00PM

Thursday

9:00AM - 5:00PM

Friday

9:00AM - 6:00PM

Saturday

9:00AM - 2:00PM

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SuperMoney Net Recommendation Score

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-1000+100

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