Home equity, meet endless possibilities.

A home equity loan or line of credit (HELOC) provides access to large amounts of money. They’re often easier loans to receive because you’re using your home as collateral.

Home equity loans and HELOCs are some of the best loans to improve your financial well-being – from increasing the value of your home to paying off high-interest debt. And because we care about your well-being, we don't have closing costs for our home equity loans, unlike most banks.

Check out the FAQs on this page to learn more about each – plus the calculator to see how much you may qualify for. We’re always here to talk with you and help you make the best choice for your individual goals. Reach out today or visit your local branch. You can also apply online today.


no closing costs

no annual fee

no prepayment fee

Variable rate as low as

3.750% APR1

as of 12/1/2021

Fixed rate as low as

3.924% APR2

as of 12/1/2021

Find the right solution

Answer a few quick questions to see the type of financing that's best for you.

  • Borrow what you need, when you need it, against your approved loan amount
  • No closing costs up to $250,0003
  • Variable interest rate as low as 3.750% APR1
  • Interest-only payments for the first 10 years, followed by 15-year repayment period
  • No prepayment penalty and early closure fee
  • No annual fee
  • Lines up to $500,000
  • Flexibility to lock in a fixed rate on all or a portion of your existing balance after closing4
  • Good for immediate financial needs that require one lump sum and fixed payments
  • No closing costs
  • Fixed Interest rate as low as 3.924% APR2
  • Loan term for 7, 10, 15, or 20 years
  • Loans up to $500,000

Home Equity FAQs

Home Equity Loan & Line of Credit (HELOC) Calculator

How much can I borrow from my home equity?

We can help you take the next step

Talk to a Local Home Loan Consultant

800.358.8228 (press 3)

Visit a branch

Apply online

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1 Home Equity loans and lines of credit are available on California properties only. 3.750% APR (annual percentage rate) and other terms shown are accurate as of 12/1/2021 and apply to a HELOC for the most qualified applicant at CLTV up to 80%. Not all applicants will qualify for the lowest rate. Rates vary based on property value, line amount and other factors, and will vary for second or vacation homes. The minimum periodic payment 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. The 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 3.25%. Minimum interest rate is 3%. Maximum interest rate is 17%.

2 3.924% APR (Annual Percentage Rate) and other terms shown are accurate, as of 12/1/2021. The fixed Annual Percentage Rate of 3.924% is available for 7-year second position home equity installment loans with loan-to-value (LTV) of 80% or less. Loan payment example: on a $50,000 loan for 120 months at 6.157% APR assuming no down payment, monthly payments would be $548.85. Loan terms available are 7, 10, 15, or 20 years; however, the monthly payment amount may differ from the example used above based on the loan amount and loan term selected. Payment example does not include amounts for taxes and insurance premiums. The monthly payment obligation will be greater if taxes and insurance are included and an initial customer deposit may be required if an escrow account for these Items is established. Loan approval is subject to credit approval and program guidelines. Interest rates and program terms are subject to change without notice. Property insurance and the fee to release an existing mortgage may be required. Fixed rate home equity loans are not available in 1st lien position. Home Equity Loans and lines of credit are available on California properties only.

3 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. Closing costs range from $0 to $2,500. This offer does not include escrow or recording fees, or additional notary fees that may result from changes in title, vesting or notary appointments. Visit patelco.org/homeequity for additional details.

4 Rates offered are subject to credit approval, may vary and are subject to change.


Read the HELOC Program Disclosure.

NMLS ID # 506373


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