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Home Equity Lines and Loans

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) from Star One Credit Union.

  • Competitive rates
  • Interest paid is often tax-deductible**
  • No prepayment penalties
  • No annual fees

A Home Equity Loan (also called a Second Mortgage or a Second Trust Deed) is available with a fixed or adjustable interest rate.


Home Equity Line of Credit—California

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.

  • Revolving line of credit—withdraw funds as needed
  • Open-ended 10-year maximum draw period and 15-year repayment period
  • No annual fee
  • Adjustable interest rate adjusts quarterly: January, April, July and October on the cycle period
  • Index used is the Prime Rate
  • Margin is up to .50% based on risk-based pricing

Fixed-Rate Home Equity Loan—California

A Home Equity Loan allows you to borrow a lump sum up to a specified percentage of the equity in your home.

  • Fixed interest rate for a maximum loan term of 15 years
  • Equity loan (cash out) and cannot be in the first position
  • Maximum loan amount $750,000
  • Available only for 1-4 unit primary residence properties located in California
  • No closing cost for loans up to $500,000

Adjustable-Rate Home Equity Loan (ARM)—California

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 only for 1- 4 unit primary residence properties located in California

Current Home Equity Interest Rates

(Owner-occupied, California only)

Adjustable-Rate Home Equity Loan**

Maximum 15 years / Up to $750,000

3.625

%

3.669% APR


Fixed-Rate Home Equity Loan**

Maximum 15 years / Up to $750,000

3.875

%

3.922% APR


Adjustable-Rate Home Equity Line of Credit**

15 years / Up to $750,000

3.500

%

3.500% APR

Get more mortgage rates and details


Apply Online

* APR = Annual Percentage Rate is subject to change. Rate and terms apply to California owner-occupied residences. Star One Home Equity Line is a variable-rate product. The home equity line rate is calculated based on Prime Rate, a margin of 0.50% could be added depending on your credit qualification, which includes your income, assets, credit and collateral. The maximum possible rate is 18% and the minimum possible rate is 3.500%. You must provide adequate insurance and a clean title to the property so that the Star One Equity Line will appear in second position. The maximum Star One real estate loan(s) to any member is limited to $3,500,000 (cumulative total). The amount of the credit line and the amount of the first trust deed may not exceed 80% of the market value of the home up to $1,000,000. For lines exceeding $250,000, closing and appraisal fees may apply in the range of $800 to $1,200. Fees, rates, costs are subject to change. Maximum term of the loan is 25 years, which includes a 10-year draw period and a 15-year repayment period. Other terms and conditions may apply, call for details. There may be an early closure fee of $500 for Home Equity Lines closed within the first two years of origination.

** Consult your tax advisor regarding your ability to deduct Home Equity Line interest.



Second Mortgages and Home Equity Lines

Apply online
  Fixed Second Trust Deed Adjustable Second Trust Deed Adjustable Home Equity Lines
Single Family Primary Residences, Condominiums & Townhomes - Maximum Percent Financed and Loan Amount Maximum 80% if the first and second trust deeds are 1,000,000 or less.

Maximum 75% if the first trust deed and Home Equity Loan are over 1,000,000.

Lower loan-to-values may apply in some declining property areas.

Maximum loan limit is $750,000.
Maximum 80% if the first trust deed and Home Equity Line are 1,000,000 or less.

Maximum 75% if the first trust deed and Home Equity Line are over 1,000,000.

Lower loan-to-values may apply in some declining property areas.

Maximum loan limit is $750,000.
2-4 Unit Primary Residences -
Maximum Percent Financed and Loan Amount
70% up to $750,000
Second Home/Investment Property -
Maximum Percent Financed and Loan Amount
Not Available
Term Maximum 15 years Maximum 15 years N/A
Repayment Period N/A N/A Draw period is 10 years
Repayment period is 15 years
Index Not applicable Weekly average yield of one-year Treasury securities Prime Rate
Interest Rate Adjustment Not applicable Annually Quarterly
Margin1 Not applicable 3.00% As low as 0.00%
Caps Not applicable 2% annual and 5% lifetime cap for zero point loans Maximum interest rate is 18%. Minimum interest rate as low as 3.500%.
Location California Only
Early Closure Fee Not applicable Early Closure Fee of $500 for Lines closed within 2 years.
Fees

For Home Equity Lines, Credit Union will pay fees related to the loan, including appraisal, title policy, flood certification and recording fees for loans up to $250,000. For Second Trust Deeds, The Credit Union will pay fees related to the loan, including appraisal, title policy, flood certification and recording fees for loans up to $500,000. Members will pay all loan-related closing cost for Home Equity Lines exceeding $250,000 and Second Trust Deeds exceeding $500,000.

No annual or periodic fees will be assessed.

Early Closure Fee of $500 to Adjustable Home Equity Lines for Lines closed within 2 years

Rates Current rates and payment examples.

1. Maximum real estate loan(s) to any one member is $3,500,000 (cumulative total). The maximum percent financed is calculated by dividing the loan amount by the property's value. The property's value for purchase transactions is the lesser of the appraised value or purchase price.