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Home equity, meet endless possibilities.

Home improvements? Education? Debt consolidation? A Patelco home equity line or loan can help you achieve your financial goals and meet life’s unexpected expenses by converting your home equity into cash. It’s a low-cost, convenient, and smart financial tool for homeowners to access the equity from rising home values.

Here’s a closer look:

Best Use
Interest Rate
Home Equity Line of Credit
Borrow what you need, when you need it, against your approved loan amount.
As low as 4.75% APR¹ variable-rate
No closing costs up to $250,000²
Pay interest only for the amount you use for the first 10-years. Pay down anytime with no penalty. After that, payment will include principal and interest for the remaining 15 years.
Up to $500,000
Home Equity Loan
You need a lump-sum amount to address immediate financial needs.
As low as 5.467% APR¹ 7-year fixed rate
No closing costs
Fixed monthly payment for 7 years (longer terms available)
Up to $500,000
Get Instant Online Approval

No Application Fee

Questions? Talk to a Home Loan Consultant

800.358.8228 (press 3)

¹ APR = Annual Percentage Rate. Rates and terms shown are accurate as of 8/7/2017, and apply to a Home Equity Line of Credit or to a Home Equity Loan for the most qualified applicant at the CLTV shown. Rates vary for second or vacation homes. Home Equity Lines of Credit and Home Equity Loans are only available in California on owner occupied and vacation or second homes.

The minimum periodic payment for line of credit is interest-only for the first ten years ('draw period') followed by fully-amortizing payments to repay the balance over the final fifteen years. No draws will be allowed during the repayment period. Payments and rate can adjust monthly. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest.

Line of credit rate is calculated using an index plus a margin. The index used is the Prime Rate as published in the Wall Street Journal Western Edition on the last business day of the month prior to the change. The current prime index is 4.25. In no event can your rate increase above 17% APR.

² The minimum credit line amount is $10,000 and the maximum is $500,000. Patelco Credit Union will pay customary closing costs on lines up to $250,000 in second lien position. Borrower is responsible for closing costs on lines in first lien position or over $250,000 and any escrow fees resulting from changes to title. Closing costs range from $0 to $2,500. Borrower may be required to pay a notary fee varying from $1 to $40 to execute the loan documents. Read the HELOC Program Disclosure.

Rates, terms, conditions, and availability are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an offer or commitment to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Hazard insurance may be required. NMLS ID Number is 506373.