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

Home equity, meet endless possibilities.

ACCESS LOW COST FUNDS

no closing costs

no annual fee

no prepayment fee

Special Introductory Variable rate as low as

4.250% APR1

as of 12/10/2018

Fixed rate as low as

5.467% APR1

as of 12/10/2018

Home Equity Line of Credit

For home improvements, consolidating debt, or whatever you need.

  • Borrow what you need, when you need it, against your approved loan amount
  • No closing costs up to $250,0002
  • Variable interest rate as low as 4.250% APR1
  • Fixed rate option available
  • 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

Home Equity Loan

When you need a specific amount right now.

  • Good for immediate financial needs that require one lump sum and fixed payments
  • No closing costs
  • Fixed Interest rate as low as 5.467% APR1
  • Loan term for 7, 10, 15, or 20 years
  • Loans up to $500,000

Home Equity Loan & Line of Credit (HELOC) Calculator

How much can I borrow from my home equity?

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¹ Home Equity loans and lines of credit are available on California properties only. Prime + 0% APR (annual percentage rate), of 5.25%, Prime minus 1% Introductory APR (annual percentage rate) of 4.25%, and other terms shown are accurate as of September 24, 2018 and apply to a HELOC for the most qualified applicant at CLTV up to 80% on applications received by December 31, 2018 and funded by January 31, 2019. 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 5.250%. Maximum interest rate is 17%.

APR During the Introductory Period: The variable Introductory APR is based upon The Wall Street Journal Prime Rate ("Prime"). Prime may change at any time and is subject to change without notice. If Prime increases or decreases during the Introductory Period, the variable Introductory APR and minimum required payment will correspondingly change. The Introductory Period begins on the date of account opening and lasts for the first twelve (12) billing cycles. Line increases to existing HELOCs are not eligible for the Intro Rate.

APR After the Introductory Period: After the Introductory Period ends, any and all remaining balances will automatically convert to the variable APR and minimum required payment per the terms of the HELOC agreement. The variable APR is based on Prime plus a margin, and will vary with Prime.

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

Read the HELOC Program Disclosure.

NMLS ID # 506373

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