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Financial Freedom
Financial Freedom

There are no limitations on what you can do with the funds from a Home Equity Loan. Use them to improve your home, pay for a college education, or care for family members.

Tax Advantages
Tax Advantages

If you plan to use the money from your Home Equity Loan to make home improvements, you may be able to deduct some or all of your payments on your federal tax return.

Low Interest Rates
Low Interest Rates

Home Equity Loans use your equity in your home as collateral, which helps to keep the interest rates low.

Affordable Payments
Affordable Payments

Low interest rates translate to affordable monthly payments, making Home Equity Loans a good way to get the money you need.

Rates As Low As 3.74% APR
PrimeWay Home Equity Loan Features
Rates As Low As 3.74% APR

Home is where the – money – is.

A PrimeWay home equity loan allows you to take advantage of the value you’ve added to your home. You’ve spent countless hours turning your house into a home over the years. You can use a home equity loan for any financial need or life event, including:

Pay off high-interest credit card debt
Pay off high-interest credit card debt

Eliminate high-interest rate debt and consolidate your payments into one low monthly cost.

Pay for a child’s college education
Pay for a child’s college education

You've spent years investing in your home – now invest that equity into your child's future.

3.74% APR* Home Equity Loan

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*Rates as low as 3.74% APR for home equity loans with terms of up to 60 months. Appraisal costs are the responsibility of the borrower(s). PrimeWay home equity loans are available only in Texas. Maximum 80% CLTV. Certain credit criteria and restrictions apply.

How to Get a Home Equity Loan from PrimeWay

Step 1
Step 1

Start the online application by clicking the button below.

Step 2
Step 2

We'll be in touch to let you know if you're application is pre-approved.

Step 3
Step 3

We'll be there the entire process – walking you through the steps to using your Home Equity Loan!

Home Equity Loan FAQs

How much equity do I need to have in my home to qualify for a Home Equity Loan?

Lenders use the Combined Loan to Value Ratio (CLVR) to calculate your qualifications. The minimum in Texas is 80%, meaning that you will need equity of at least 20% to qualify.

Are there limits on what I can do with the funds from a Home Equity Loan?

No, you can use your Home Equity Loan for anything, including paying down debt, making improvements to your home, paying for college, or any other financial need.

Will the improvements I’ve made to my home increase my equity?

They may. Your equity is based on the amount you owe as it compares to the current appraised value of your home. If the value of your home is higher than it was when you bought it, you will have a higher amount of equity.

What is a mortgage prequalification?

Mortgage prequalification is an assessment of whether your debt-to-income ratio fits mortgage guidelines and provides an estimate of the amount you may be able to borrow. A prequalification letter can also be given to your real estate agent to show you are a serious home buyer. Prequalification is optional, but it's a helpful step in the process of buying a house..

Mortgage prequalification is free and doesn't require a commitment from you or the bank or credit union.

Mortgage prequalification checklist

It is convenient to get prequalified and can help you in the mortgage process. Here's what you'll need to provide for a mortgage prequalification:

  • Your name (plus any co-borrowers' names)
  • Your current address
  • Your estimated annual household income
  • Your estimated monthly household debt expenses
What documents are required for mortgage pre-approval?

You can apply for pre-approval at any time, regardless of whether you've completed the prequalification process. You'll complete a full mortgage loan application, which will include the following information.

This is a partial list as varying information and documentation can be requested during the closing process. Your mortgage specialist can tell you about any additional requirements.

Residential History

  1. Your residential address for the past two years
  2. Landlord names and addresses for the past two years

Personal Assets


  1. Past months checking and savings account statements
  2. Past two months for other investments, including CDs, IRAs, stocks, bonds or other securities you intend to use for your down payment
  3. Current real estate holdings, including property address, current market value, mortgage lender's name and address, loan account number, balance and monthly payment

Employment & Income History

  1. Paycheck stubs from the last 30 days showing your year-to-date earnings
  2. W-2 or I-9 tax forms for the past two years

Personal debt

A list of any new monthly debts not listed on your credit report (auto loans, student loans, mortgage loans, credit cards, etc.), including creditor name, address, account number, minimum monthly payment amount and outstanding balance on each account.

Additional documents may be required at your mortgage closing. Your real estate agent and mortgage loan officer will let you know which documents will be needed when you close on your new home and they'll work closely with you at each step of the mortgage loan process.

What determines my credit score?

Your credit score, or FICO score, is a number that reflects your financial responsibility and helps lenders decide if you're a credit risk or not. Your score is based on - but not part of - your credit report. It's generated at the time of the request, then included with the report.
The five factors that determine your Credit Score are:

  • Payment History - (approximately 35% of your score) The factor that has the biggest impact on your score is whether you've paid past credit accounts on time.
  • Amounts Owed - (approximately 30%) Having credit accounts and owing money doesn't mean you're a high-risk borrower. But owing a lot of money on numerous accounts can suggest that you are financially overextended and more likely to make some payments late or not at all. Part of the science of scoring is determining how much debt is too much for a given credit profile.
  • Length of Credit History - (approximately 15%) In general, a longer credit history will increase your FICO score. It shows that you can responsibly manage your available credit over time.
  • New Credit - (approximately 10%) Opening several credit accounts in a short period of time can represent greater risk; especially for people with short credit histories. Requests for new credit can also represent greater risk.
  • Types of Credit in Use - (approximately 10%) Your FICO score will reflect a combination of credit cards, retail accounts, installment loans, finance company accounts, and mortgage loans. While a healthy mix will improve your score, it is not necessary to have one of each, and it is not a good idea to open credit accounts you don't intend to use.

Learn more about what determines your credit score and how your score is interpreted.

Learn Why Our Members Love PrimeWay

We make your dreams our mission – every day. Read what our members have to say about how PrimeWay membership has helped them achieve their dreams.

Jim Vo

APR = Annual Percentage Rate. Rates as low as 3.74% APR for home equity loans with terms of up to 60 months. Appraisal costs are the responsibility of the borrower(s). PrimeWay home equity loans are available only in Texas. Maximum 80% CLTV. Certain credit criteria and restrictions apply.

Rates and terms are based on a combination of your earned credit score, the term you select, collateral, down payments, loan-to-value (LTV) position and other normal lending criteria. Acceptable property hazard insurance is required, as well as Flood Insurance if the property is in a designated flood zone.

You should consult your tax advisor regarding your possible tax implications. Rates are subject to change without notice.

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