Enjoy the things that really matter with the equity that you’ve built into your home.
A Home Equity Line of Credit allows you to turn your home’s equity into cash that you can use to renovate your home, take a dream vacation or more. You’ll have access to a line of credit that allows you to withdraw money when you need it. Especially valuable for making multiple purchases over a longer period of time, or simply wanting to have the cash available if an opportunity or need arises.
This line of credit is also a smart way to consolidate debt.
- No upfront fees and no annual fees1
- Open-ended revolving line of credit
- 10-year draw period with interest-only payments1
- No minimum draw (advance) required at funding
- Simple interest, variable rate
- Interest paid may be tax-deductible2
- Credit limit access is easily available 24/7 online, over the phone, in person or by using HELOC checks (no minimum amount)
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1 APR = Annual Percentage Rate.
California Credit Union’s primary area of service is Southern California which includes the following counties: Los Angeles, San Diego, Orange, Ventura, Riverside, San Bernardino, Kern, Imperial, Santa Barbara and San Luis Obispo. Your home must be owner occupied and located in our service area- Southern California. Introductory rate based on combined loan-to-value. After the initial fixed 12-month introductory period, your HELOC rate may adjust quarterly up to 1.0% based on WSJ Prime Rate + a margin. After the 10-year draw period, your HELOC rate may adjust annually up to 2.0% based on WSJ Prime Rate + a margin. As of December 19, 2024 the home equity line of credit rates range from 8.50% – 10.00% APR. The maximum Annual Percentage Rate that can apply is 12.0% and the minimum Annual Percentage Rate is 4.0%. Rates are variable, and subject to increase after account opening. If payment is made more than 15 days after due date, a late charge will be assessed equal to 20% of the interest due ($5 minimum). An early closure fee of $500-$1,500 applies when the account is closed within 3 years of origination. Property insurance is required. All loans are subject to credit approval, income verification, and satisfactory appraisal and collateral. Maximum credit limit subject to combined loan-to-value guidelines. Rates, terms, and fees are subject to change without notice. Minimum credit line of $25,000 required. A $5 new membership fee may be required.
2 Please consult a tax advisor regarding the deductibility of interest.
California Credit Union’s primary area of service is Southern California which includes the following counties: Los Angeles, San Diego, Orange, Ventura, Riverside, San Bernardino, Kern, Imperial, Santa Barbara, and San Luis Obispo. Your home must be owner-occupied and located in our service area, Southern California.
View the full Home Equity Line of Credit Terms & Conditions
Download this PDF guide to learn more about What You Should Know About Home Equity Lines of Credit.
