California Home Equity Loans (Second Mortgage) at 6.750%, HELOC Rate: 8.500%, Star One Credit Union
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In your best interest

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.

Introducing the 20-year fixed-rate
Home Equity Loan

Are you dreaming of remodeling your home, a long vacation, or maybe just consolidating high-interest rate debt?

A fixed-rate Star One Home Equity Loan—now repayable over 20 years—can help you realize your plans with an even lower monthly payment, and no worry of rising interest rates.

Our Home Equity Line of Credit now has a fixed-rate option

Protect yourself against rising interest rates by converting all or part of your existing HELOC balance to a Fixed-Rate HELOC segment.

Learn more or apply to convert your HELOC balance.



$

20-Year Fixed-Rate
Home Equity Loan*

Up to $750,000

7.000%

APR: 7.075 %[1]
No closing costs
California only

$1,000,000 loan:
$XXX monthly payment

15-Year Fixed-Rate
Home Equity Loan*

Up to $750,000

6.750%

APR: 6.839 %[1]
No closing costs
California only

$1,000,000 loan:
$XXX monthly payment

Make an appointment for a free mortgage consultation with our experienced staff.

HELOC and Adjustable-Rate Home Equity Loan

Home Equity Line of Credit (HELOC)**

10-year draw period, 15-year repayment
Up to $750,000****

8.500%

APR: 8.500 %
No closing costs on HELOCs up to $250,000
California only

Adjustable-Rate Home Equity Loan***

Maximum 15 years / Up to $750,000****

7.000%

APR: 7.939 %[1]
No closing costs
California only

$1,000,000 loan:
$XXX monthly payment
for first year

More Mortgage Calculators


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 up to $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
  • Option to convert the existing balance to a fixed rate and payment—Learn more

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 20 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

Purchase a home

With our streamlined process, buying a home has never been easier.

Purchase a Home

Home refinance

Save money and refinance to lower your interest rate, or take cash out.

Refinance Your Home

Lower your interest

Are mortgage rates now lower than your current Star One mortgage rate?

Rate Modification

Mortgage rate-lock

Mortgage rates change continually—protect yourself against an increase.

Rate-Lock Commitment



Get connected with a real-estate agent

Learn more about the HomeAdvantage program.
Find a home with our hand-picked agents.

Follow home listings online and save hundreds or even thousands of dollars at closing.


Disclosures

Monthly payments may vary slightly from those quoted due to rounding.

* Fixed-rate home-equity loan payment examples assuming a $300,000 loan: 15-year at 6.839% APR—180 monthly payments at $2,654.40; 20-year at 7.075% APR—240 monthly payments at $2,325.90.

** Home-equity line of credit 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.

*** 15-year adjustable-rate home-equity loan rates range from 7.939% APR to 12.000% APR. The APR is variable, based on an index and margin. On a loan of $300,000 at 7.939% APR, you would make 180 payments of $2,696.40 over 15 years. 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 $3,000,000. You must provide adequate insurance and a clean title to the property so that the Star One equity line will appear in second position.

1. The Annual Percentage Rate (APR) for Jumbo loans assumes a loan amount of $800,000. The APR for all other loans assumes a loan amount of $100,000.

2. Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 6.365% APR—120 monthly payments at $3,369.00; 15-year mortgage at 6.473% APR—180 monthly payments at $2,592.90; 20-year mortgage at 6.707% APR—240 monthly payments at $2,258.70; and 30-year mortgage at 6.940% APR—360 monthly payments at $1,970.70. Loan payments do not include taxes and insurance.

3. ARM mortgage loan rates may range from 6.892% APR to 6.484% 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 7.342% APR, you would make 36 payments of $1,798.50 during the initial three-year fixed-rate period. Loan payments do not include taxes and insurance.