How To Apply for a Homeowner Express Loan

Homeowner Express loans are a unique form of personal loan available to Amplify Credit Union members.

Written By Amplify Administrator (System Administrator)

Updated at July 7th, 2022

Given the rising real estate costs in Texas, homeowners are spending more and more of their hard-earned money on deposits, leaving little room for upcoming projects. That's why we created the Homeowner Express loan - this type of personal loan is the perfect way to leverage your status of a homeowner without worrying about your future equity. In this article, we'll explain how the Homeowner Express loan works and why you should consider one for your next life milestone.

Key Takeaways:

  • Homeowner Express Loans are a type of personal loan that do not use your home equity as collateral.
  • These loans are only available to homeowners. You do not need to have your mortgage with Amplify or meet a minimum equity requirement to qualify.
  • You must be a current Amplify member to apply. Applications can only be submitted within online banking for members.

Why can only members apply for Homeowner Express Loans?

We developed the Homeowner Express Loan as a unique loan product for Amplify members. With home prices skyrocketing in Texas, our goal was to create a product for both new and experienced homeowners who need faster or more flexible alternatives to a home equity loan. Because of these benefits, we want to make sure that these loans are available to those who have a vested interest in the health of our community – our members and member families. 

What is the difference between a Homeowner Express Loan and a home equity loan?

Homeowner Express Loans are a unique type of personal loan, meaning they do not require borrowers to meet a home equity threshold to be eligible. Instead, Homeowner Express Loans use your status as a homeowner as proof of your creditworthiness and allow you to borrow a set amount of money at a low interest rate. Unlike home equity loans, Homeowner Express Loans are also processed in days, not weeks, allowing borrowers to access the funds they need as quickly as possible.

Do I need to have a mortgage with Amplify to qualify ?

No. If you are a member of Amplify and up to date on your mortgage payments – with us or any mortgage company authorized to lend in Texas - you are eligible to apply for a Homeowner Express Loan. There are also no balance requirements with a Homeowner Express Loan, and homeowners who have paid off their mortgages in full are also eligible to apply.

If you do not have your mortgage with Amplify – or if you have completed making payments on your home – you will be asked to provide proof of homeownership. Please follow the instructions in the application to complete this step.

How do I apply for a Homeowner Express Loan?

Because you must be a member of Amplify to apply, you will need to complete your application in two steps. First, you will need to complete an application to become a member of Amplify.

  • Click on the Apply Now button on the Homeowner Express Loan page.
  • Enter your Zip Code.
  • Select the Primary Savings Account. You may also choose to add a Checking Account to your membership during this application process.
  • Complete and submit the full application.

For more information on the member application, visit the How to Open a New Account walkthrough. Once your account has been created, you will log into online banking and complete an application for a Homeowner Express Loan.

  • Use the Login module on the Amplify homepage or log in with the Amplify mobile app.
  • Select the Apply / Open dropdown menu in the online banking sidebar.
  • Click Personal Loan.
  • Select Homeowner Express Loan (Unsecured Term) and enter your desired loan amount and terms.
  • Complete and submit the full application.

Once your application has been received, our team will review and respond with a decision within 24-48 hours.


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