Home Equity Loans and Lines (HELOC)
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)—owner-occupied, California only
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 3.306% APR - Adjustable-Rate Mortgage *****
as low as 4.429% APR - Investment Property Loans
as low as 4.690% 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 Details (HELOC)
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
- No closing costs on HELOCs under $250,000
- 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
- Maximum loan amount $750,000
Fixed-Rate Home Equity Loan Details
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.
- No closing costs
- 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
Adjustable-Rate Home Equity Loan (ARM) Details
An adjustable-rate Home Equity Loan allows you to borrow a lump sum up to a specified percentage of the equity in your home.
- No closing costs
- 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 3.306% APR—120 monthly payments at $2,934.00; 15-year mortgage at 3.429% APR—180 monthly payments at $2,126.10; 20-year mortgage at 3.796% APR—240 monthly payments at $1,778.40; and 30-year mortgage at 3.909% APR—360 monthly payments at $1,410.60. Loan payments do not include taxes and insurance.
** 15-year adjustable-rate home-equity loan rates range from 5.443% APR to 10.375% APR. The APR is variable, based on an index and margin. On a loan of $300,000 at 5.443% APR, you would make 180 payments of $2,431.80 over 15 years. Loan payments do not include taxes and insurance.
*** Home-equity lines of credit rates may range from 5.500% APR to 6% 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 $1,500 to $2,500. 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 4.809% APR, you would make 180 payments at $2,333.70 over 15 years.
***** ARM mortgage loan rates may range from 4.648% APR to 4.022% 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 4.648% APR, you would make 36 payments of $1,264.80 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.
