HOME EQUITY LINE OF CREDIT

Are there any prepayment penalties associated with a home equity line of credit?
There are no pre-payment penalties associated with a home equity line of credit.
Fri, 7 Feb, 2020 at 12:46 AM
Do I pay closing costs on a home equity line of credit?
Tower pays all closing costs that are associated with a home equity line on your behalf as long as you retain the loan for 24 months or more. You will be re...
Fri, 7 Feb, 2020 at 12:47 AM
How do I apply for a home equity line of credit?
Apply online and receive an instant response or pick up an application from any branch. You can also call the Member Service Center at 301-497-7000 or 800-7...
Fri, 7 Feb, 2020 at 12:47 AM
How do I contact Tower regarding my loan application?
Call 301-497-7000 or 800-787-8328, ext. 7225 to be directed to your Consultant with any questions regarding your application. Or click here and provide your...
Fri, 7 Feb, 2020 at 12:48 AM
How do I contact Tower regarding servicing of my home equity line of credit?
Call the Member Service Center at 301-497-7000 or 800-787-8328 and ask for Loan Servicing
Fri, 7 Feb, 2020 at 12:48 AM
How do I make a payment?
Here are some ways you can make payments: To make transfers from a Tower account, use Home Banking or our Mobile app. Click on Make A Payment at towerfcu...
Fri, 7 Feb, 2020 at 12:49 AM
How do I pay down my principle balance?
When a payment is made, all unpaid interest will be satisfied first. This includes interest that has accrued after the billing end date and is not yet provi...
Fri, 7 Feb, 2020 at 1:07 AM
How do I settle on my home equity line of credit?
All documents will be mailed to your home address. Tower will provide a settlement date to you. Sign the documents in the presence of a Notary Public on or ...
Fri, 7 Feb, 2020 at 1:08 AM
How often do rates change?
The annual percentage rate can change quarterly on the 11th day of January, April, July and October. There is no limit on the amount by which the annual per...
Fri, 7 Feb, 2020 at 1:08 AM
Is the home equity line of credit loan tax deductible?
Your home equity line interest may be tax deductible. Consult a tax advisor for details
Fri, 7 Feb, 2020 at 1:09 AM