Home Equity Lines of Credit Rates
Home Equity Lines of Credit Rates
Effective November 21, 2019
| Loan Type | Approximate Term | APR1 |
|---|---|---|
| Home Equity Line of Credit 80% or less combined-loan-to-value |
10 year draw Up to 20 year repayment |
2.99% intro rate fixed for 12 months. After that, the rate will be WSJ Prime + a margin. Currently 4.75% + 1% = 5.75% |
| 100% Home Equity Line of Credit 80.01%-100% combined-loan-to-value |
10 year draw up to 20 year repayment |
4.49% intro rate fixed for 12 months. After that, the rate will be WSJ Prime + 2.5% margin. Currently 4.75% + 2.5% = 7.25% |
What you should know about Home Equity Lines of Credit
Terms & Conditions
1APR = Annual Percentage Rate
Must be owner-occupied home located in California. 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 annual up to 2.0% based on WSJ Prime Rate + a margin. The maximum Annual Percentage Rate that can apply is 12.0% and the minimum Annual Percentage Rate is 4.0%. 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). 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.
