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Home Equity Line of Credit

A home equity line of credit is a great way to finance major expenses like home improvements or education costs.

Our HELOCs offer unique benefits:

  • No application fee and No annual fee
  • No pre-payment penalties
  • Access money as needed and make payments only on the funds you use
  • Easy access to available credit – make transfers in person, over the phone, or online
  • HELOC can be set up as free overdraft protection for your Altra checking account(s)
  • Tax advantages – the interest you pay may be tax deductible; consult your tax professional.
  • Rate adjusts monthly to a variable rate of as low as Prime Rate + 0
  • Rate will never exceed 18% APR
  • Closing costs vary by state.
  • Home Equity Line of Credit currently not available in Texas. Please contact Altra for other Home Equity Loan options available.

HELOC Payments

All HELOCs with a 90% or lower LTV require interest-only minimum monthly payments on the outstanding balance. You have the flexibility to pay only the interest due or to make additional payments to reduce the balance. Contact Altra for complete details.

Download the Home Equity Line of Credit (HELOC) Checklist