Home Equity Products

 

Home Equity Lines of Credit

The Index is the prime rate as published in the "Money Rates" section of The Wall Street Journal. Rates, products, services and terms are accurate as of the effective dates below.
Call our Member Contact Center at 916-569-5400 (Sacramento area) or 800-962-0990 for the most current information.

  Effective May 18, 2016

HOME EQUITY LINES OF CREDIT

  HELOC I HELOC II HELOC NOO
(Non-owner Occupied)
Credit Limit

$5,000 - $250,000 $5,000 - $250,000 $10,000 - $49,900
APR1

4.24%1 4.24%1 5.50%1
Maximum
Loan-to-Value (LTV)
Borrow up to 80% of the appraised value2 Borrow up to 80% of the appraised value2 Borrow up to 70% of the appraised value3

1 APR = Annual Percentage Rate. APRs are subject to change. HELOCs are variable-rate loans. The rate is tied to the U.S. Prime Rate as published in The Wall Street Journal, so the rate can increase or decrease over time, which will affect your monthly payment amount. Rates may change monthly. Posted rates are based on an evaluation of credit history, CLTV (combined loan-to-value) ratio, loan amount and occupancy, so your rate may differ.

2 Maximum LTV of 75% for two-unit properties.

3 Maximum LTV of 65% for two-unity properties.

All Home Equity Lines of Credit (HELOCs): All loans subject to approval and all Credit Union policies and procedures. Credit limited to one-to-four-family owner-occupied units, second homes and investment properties located in the State of California. Excludes mobile homes. We will not originate a HELOC behind a negatively amotizing first mortgage loan (including reverse mortgage) or first mortgages with a balloon payment due at maturity. The maximum APR is 1700% for HELOC I, 6.00% over the rate in effect the day your HELOC II is originated, and 17.75% for HELOC NOO. Pay-off demand fees and reconveyance fees are the responsibility of the borrower. Property insurance required. Flood insurance may be required. Other restrictions may apply.

HELOC I and HELOC II: Members may have only one owner-occupid HELOC open at any time.

 

 

Fixed Rate Equity Loans

Members receive the rates in effect the day the loan documents are drawn. Rates are established by the Board of Directors. Rates, products, services and terms are accurate as of the effective dates below.
Call our Member Contact Center at 916-569-5400 (Sacramento area) or 800-962-0990 for the most current information.

Effective June 1, 2016

FIXED RATE EQUITY LOANS

Product
(Loan Amount)
Maximum Loan to
Value

48
Months

60
Months

84
Months

120
Months

180
Months
Other Fees
    Rate APR1 Rate APR1 Rate APR1 Rate APR1 Rate APR1  
Equity Loan2,3,4,5

(10,000-$250,000)
80%6 4.990% 4.990% 5.240% 5.240% 5.490% 5.490% 5.740% 5.740% 5.990% 5.990% None7,8,9
Equity Loan2,3,4,5

($10,000-$100,000)
90% 5.240% 5.240% 5.490% 5.490% 5.740% 5.740% 5.990% 5.990% 6.240% 6.240% None7,8,9

 

Representative Example: A loan in the amount of $10,000, at an APR of 5.740% and a term of 120 months would have a payment of $109.38.

1 APR = Annual Percentage Rate.
2 All loans are subject to credit approval and Credit Union policies and procedures. Other terms and conditions may apply.
3 Equity loans are not allowed behind negatively amortizing first mortgage loans (including reverse mortgages) or first mortgages with a balloon.
4 Equity loans must be in second lien position. Properties with no existing mortgage are ineligible for our equity loan product. If a Schools equity loan is currently in first lien position it cannot be refinianced. In this circumstance, an additional equity loan may be placed in second lien position.
5 Members are limited to owner-occupied equity loans.
6 Maximum LTV of 75% for 2-unit properties.
7 Loans paid off within three years of the date of the note will be subject to an early closure fee in the amount of $250.
8 Plus title and escrow fees of up to $1,500 for loans with construction in progress.
9 For loan amounts $100,000 and under, "no closing costs" are based on the property value being established using an Automated Valuation Model (AVM).

  • All loans are subject to a demand fee of up to $30 upon request for payoff.
  • A reconveyance fee of $45 plus the applicable county recording fee will be collected at payoff.
  • Property insurance is required. Flood insurance required when applicable.