home equity line of credit

Looking for the most flexible way to tap into the equity in your home? Our Home Equity Line of Credit (HELOC) gives you access to an affordable revolving credit line whenever you need it. With our HELOC, you’ll always have quick and easy cash available. Here are the details:

• Borrow up to a $250,000 revolving line of credit. As you pay off your credit line, the money becomes available again. You can draw money for up to 10 years.
• No application fee, escrow fees, points, closing costs or prepayment penalties. Smart, smart, smart.
• Interest may be tax-deductible. Speak to a tax advisor for information on your specific financial situation.
• Easy cash access. Your credit line can be accessed through online banking, touch-tone banking, convenience check, or by giving us a quick call. Funds transferred to your UMe checking account can be accessed via ATM.

So what’s next? Check out our current rates by clicking the “Rates” tab above, estimate a payment by clicking the “Calculator” banner below, or better yet, click “Apply Now” and let’s get the ball rolling!

Note: All fees associated with a Home Equity Loan or HELOC can be included in the loan or taken out of the proceeds.

*APR is Annual Percentage Rate. The Home Equity Line of Credit APR is a variable rate which is based on the Prime Rate. Loan approval and rate are based on a verification of income, an evaluation of your creditworthiness, and property evaluations which include Loan-to-Value (LTV). Your rate will never be less than 4.00% or exceed 18.00%. If you cancel your loan, third party fees may apply. Costs include a non-refundable appraisal fee, plus title insurance and recording fees. Property insurance is required. Loan amounts up to $250,000. For additional details, please call the Credit Union at 818) 238.2900. All loans and rates are subject to change.

The following information will be needed before you apply:

• Statement(s): Your most recent statement showing balance(s) owed on your first trust deed and your second trust deed (if applicable).
• Verification of income: Two months of current and consecutive pay stubs and a copy of your most recent tax return. If you are self-employed, please bring complete tax returns for the last two years.
• Insurance: A copy of your most recent Homeowner’s Insurance Policy.
• Other: A copy of original 1st Mortgage loan contract in full.

Must be the primary residence in California, and cannot be more than four (4) units.