Family sitting on floor

Home equity loans & lines of credit

Home Equity Loans and Lines of Credit

Your home can be a great source of cash. The equity in your home — the difference between what you owe and the market value — can be used for home improvement projects, education expenses or a trip of a lifetime. A home equity loan is best for a single, lump-sum expense. A home equity line of credit is ideal for ongoing projects or expenses.

  • Home equity loans and lines-of-credit
  • Fixed-rates as low as 7.49% APR
  • Borrow up to 80% of your home's value
  • No points, no fees and no closing costs













 
Rates and terms subject to change without notice. Collateral protection insurance is required to obtain any secured loan. Must be 18 or older to apply. Loans subject to all credit union policies and procedures. For current information, please call a member service representative at (888) 858-6878. 

All home equity loans and lines of credit: Credit limited to California properties of five acres or less and 4 units or less.  An early closure fee of $100 plus actual costs will be imposed if the loan is closed within two years of opening.  Property insurance is required.  Flood insurance may apply.  Notary and reconveyance fees are the responsibility of the borrower.  All persons on the property title are required on the loan application.  All loans require income verification.  No manufactured or mobile homes.  Member is responsible for all property insurance and taxes.  Other restrictions may apply.  For current information, please call a real estate representative at (888) 858-6878, ext. 5282.

Home equity loans
Rates increase by 0.25% APR for loans over $726,200.  

Owner-occupied: We lend up to 80% of the appraised home value, less first mortgage balance. Minimum loan amount is $15,000; maximum loan amount is $2,500,000. Representative example: Pay $20.03 per month per $1,000 borrowed for 60 months at 7.49% with up to 80% LTV. Payment example does not include property taxes or insurance.

Non-owner occupied: For second and investment homes, we lend up to 70% of the appraised home value, less first mortgage balance. Minimum loan amount is $15,000; maximum loan amount is $726,200. Maximum term of 15 years for second homes and 12 years for investment homes. Representative example: Pay $10.14 per month per $1,000 borrowed for 180 months at 8.99% with 70% LTV.  Payment example does not include property taxes or insurance.

On the House: 7-year term; minimum loan amount is $50,000.  Reference additional qualifications above for owner- and non-owner occupied properties. Representative example: Pay $14.73 per month per $1,000 borrowed for 84 months at 6.25% with 80% LTV.  Payment example does not include property taxes or insurance.

Home equity lines of credit
Rates change with the prime rate as published in the 'Money Rates' section of the Wall Street Journal.  These are variable-rate loans, the rate may change monthly.

Owner-occupied: We lend up to 80% of the first $500,000 in appraised home value and 70% on the remaining home value, less first mortgage balance. Minimum loan amount is $15,000; maximum loan amount is $2,500,000. Minimum payments are interest only for the first 10 years followed by 15 years of fully amortized payments. The home equity line of credit variable rate is 0.00% - 1.00% APR plus the prime rate. Actual costs apply for loans over $250,000.  Initial setup fees generally range between $500 and $2,500 for lines over $250,000.  An annual fee of $50 will be charged only if the account is inactive for one year.  The minimum APR is 0.00% and the maximum APR is 18.00%. 

Non-owner occupied: For second home and investment homes, we lend up to 70% of the appraised home value up to the loan amount of $100,000 and 65% with loan amounts between $100,001 and $250,000, less first mortgage balance. Minimum payments are interest only for the first 10 years followed by 15 years of fully amortized payments (second home) and 12 years of fully amortized payments (investment home). The home equity line of credit variable rate is 0.50% - 2.00% APR plus the prime rate. Actual set up costs apply for loans over $100,000. Initial setup fees generally range between $500 and $2,500.  Maximum home equity line amount is $250,000. An annual fee of $100 will be charged only if the account is inactive for one year. The minimum APR is 6.00% and the maximum APR is 18.00%.