Home Equity Lines and Loans
A Home Equity Loan (also called a Second Mortgage or a Second Trust Deed) is available with a fixed or adjustable interest rate.
Competitive Mortgage Rates
Home Equity Lines and Loans (Second Trust Deed)—California only
- No annual fees
- Interest paid is often tax-deductible (consult your tax advisor)
- Pay down the balance anytime with no prepayment penalty
Make home improvements, take a trip, or fund any big expense without worrying about access fees or high interest rates. Finance your plans easily with a Home Equity Loan or Line of Credit (HELOC).
Make an appointment for a free in-branch mortgage consultation with our experienced staff.
- More Mortgage Rates
- Fixed-Rate First Mortgage *
as low as 2.924% APR - Adjustable-Rate Mortgage *****
as low as 3.804% APR - Investment Property Loans
as low as 3.794% APR - First-Time Home Buyer
as low as 3% down payment - Get more mortgage rates and details
Compare Home Equity Loans and Lines
Home Equity Line of Credit
A Home Equity Line of Credit (HELOC) allows you to obtain multiple advances of the loan proceeds at your discretion, up to a specified percentage of the equity in your home.
- No annual fee
- Revolving line of credit—withdraw funds as needed
- Open-ended 10-year maximum draw period and 15-year repayment period
- Interest rate adjusts quarterly: January, April, July and October on the cycle period
- Index used is the Prime Rate
Fixed-Rate Home Equity Loan
A fixed-rate Home Equity Loan allows you to borrow, in a lump sum, up to a specified percentage of the equity in your home.
- Maximum loan term of 15 years
- Fixed interest rate and a fixed monthly payment
- Equity loan (cash out) and cannot be in the first position
- Maximum loan amount $750,000
- Available for 1-4 unit primary residences
- No closing cost for loans up to $500,000
Adjustable-Rate Home Equity Loan (ARM)
An adjustable-rate Home Equity Loan allows you to borrow a lump sum up to a specified percentage of the equity in your home.
- Maximum loan term of 15 years
- Variable-rate loan adjusts annually based on loan origination date
- Index is based on weekly average yield of 1-year Treasury Constant Maturity(TCM)
- Margin is 3.00%
- Caps: 2% annual and 5% lifetime cap above the initial interest rate
- Maximum loan amount $750,000
- Available for 1- 4 unit primary residences
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Disclosures
* Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 2.924% APR—120 monthly payments at $2,877.30; 15-year mortgage at 3.040% APR—180 monthly payments at $2,072.70; 20-year mortgage at 3.536% APR—240 monthly payments at $1,739.70; and 30-year mortgage at 3.778% APR—360 monthly payments at $1,389.30. Loan payments do not include taxes and insurance.
** 15-year adjustable-rate home-equity loan rates range from 4.302% APR to 9.250% APR. The APR is variable, based on an index and margin. On a loan of $300,000 at 4.302% APR, you would make 180 payments of $2,256.30 over 15 years. Loan payments do not include taxes and insurance.
*** Home-equity lines of credit rates may range from 4.250% APR to 4.75% APR. These rates are variable and the maximum APR that could apply is 18.000%. The maximum term is 25 years, which includes a 10-year draw period and a 15-year repayment period. For lines exceeding $250,000, closing and appraisal fees may apply in the range of $800 to $1,200. There may be an early closure fee of $500 for home equity lines closed within the first two years of origination.
**** For a 15-year fixed-rate home-equity loan of $300,000 at the current rate of 4.429% APR, you would make 180 payments at $2,276.10 over 15 years.
***** ARM mortgage loan rates may range from 3.855% APR to 3.794% APR during the initial fixed-rate period, which may be 3, 5, 7 or 10 years. The APR is subsequently variable, based on an index and margin, for the remainder of the 30-year term. For example, on a 30-year 3/1 ARM loan of $300,000 starting at 3.855% APR, you would make 36 payments of $1,305.60 during the intial three-year fixed-rate period. Loan payments do not include taxes and insurance.
****** The amount of the equity loan and the amount of the first-trust deed may not exceed 80% of the market value of the home up to $1,000,000. You must provide adequate insurance and a clean title to the property so that the Star One equity line will appear in second position.
