Home Equity Products

Members receive the rates in effect the day the loan documents are drawn. Loan rates are established by the Board of Directors. Rates, products, services and terms are accurate as of the effective dates below.

Contact our Call Center at 916-569-5400 (Sacramento area) or 800-962-0990 for the most current information.


Effective April 18, 2014

HOME EQUITY LINES OF CREDIT

Product
(Credit Limit)
Maximum Loan to Value   APR Range1,2   Index Margin Range2 Maximum Rate Annual Fee Other Fees
HELOC I3,4,5,6

($5,000-
$250,000)


80% 4.50%-5.50%1 3.25% 1.25%-2.25% 17.00% $50 Annual Fee

(waived first year)
None7,8,9
HELOC II3,4,5,6

($5,000-$250,000)

80% 4.50%-5.50%1 3.25% 1.25%-2.25% 10.50%-11.50%10 $75 Annual Fee

(waived first year)
$400 Documentation Fee7,8,9
HELOC NOO3,5,11

Non-Owner Occupied ($10,000-$49,900)
70%12 5.25%-6.25%1 3.25% 2.00%-3.00% 17.75% $50 Annual Fee

(waived first year)
None7,8,9

1 APR=Annual Percentage Rate. The APR is variable. Following any discount period (if applicable), the APR is determined by adding the applicable "Margin" to the "Index" in effect on each APR Adjustment Date. The Index is the Prime Rate as published by The Wall Street Journal.
2 Final APR and Margin are based on creditworthiness and loan to value (LTV).
3 All lines of credit are subject to credit approval and Credit Union policies and procedures. Other terms and conditions may apply.
4 Initial draw period of 10 years, with an additional 15-year repayment term.
5 HELOCs are not allowed behind a negatively amortizing first mortgage loan.
6 Members may have only one Owner-Occupied HELOC open at any time.
7 Third party fees of up to $1,500 are waived unless you payoff your loan within the first three years.
8 Plus title and escrow fees of up to $1,050 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).
10 The maximum rate is 6% over the rate in effect the day your loan documents are drawn.
11 Initial draw period of 10 years with an additional 12-year repayment term.
12 Maximum LTV of 65% for two- to four-unit properties.

  • 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.


Effective April 1, 2014

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

 

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 a negatively amortizing first mortgage.
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 lein position it cannot be refinianced. In this circumstance, an additional equity loan may be placed in second lein position.
5 Members are limited to owner-occupied equity loans.
6 Maximum LTV of 65% 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 $1,050 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.