Home Equity

Need a low-cost way to obtain ready cash? An iTrust FCU Home Equity Loan may meet your needs.  You pay no application fees, get a good rate and may qualify to have us pay your closing cost.  Check it out today!

  • Home Equity Loans may be made on single family dwellings and duplexes located in Tennessee, Mississippi and Arkansas provided that the member resides in the residence on which the loan is being made. This is restricted to the surrounding counties of Desoto, Tunica, Tate, and Marshall counties in Mississippi and Crittenden county in Arkansas. 

  • The minimum line of credit will be $10,000 and the maximum will be $50,000. The minimum initial advance will be $5,000 and the minimum advance, thereafter, will be $500. There will be no time limit between advances.  

  • The maximum amount that the property can be indebted, at the time of credit is extended, is eighty percent (80%) of the current appraised value, including the Credit Union's line of credit. 

  • No loan will be made when there is more than one other lien (the first mortgage) on the property unless the additional lien(s) is being paid off with the Credit Union Home Equity Loan. The Attorney must pay off the additional lien(s) when the line of credit is granted.  

  • All parties to the ownership of the property must sign the lien document (Trust Deed). 

The interest rate will be variable based on the Prime Rate (as published in the Wall Street Journal) plus a margin depending on the credit score.