Tony and Lisa, SF Natives.
Low
Possible
Tax-Deductible**
Low
Use the Equity in Your Home
You've worked hard making your house a home. Now let it work for you. Tap into the equity you've built to pay for home repairs, pay off high-interest debt, or anything else you might need. Choose between a Home Equity Line of Credit (HELOC) or Home Equity Loan, and benefit from rates typically lower than a personal loan or credit card.
HELOC
- Variable rate
- Interest-only payments for the first 10 years
- Withdraw funds only when you need them
- Pay only on what you borrow
Home Equity Loan
- Fixed rate
- Fixed term of 15 years for repayment
- No prepayment penalties
- You get all the funds up front in a lump sum
Home Equity Line of Credit Rates
| APR* | Loan-to-Value (LTV) |
|---|---|
| 9.75% | <70% |
*APR = Annual Percentage Rate. The variable rate APR on home equity lines of credit may vary quarterly based on the latest U.S. Prime Rate as published in the Wall Street Journal plus a margin of 2.00% (the Prime Rate is 7.75% as of November 8th, 2024). Maximum annual percentage rate under this plan is 18.00%
Maximum Combined Loan to Value (CLTV) is 70%, including existing first mortgage and new Home Equity Loan. All loans and lines of credit are subject to property valuation. Limited to owner occupied one-to-four family units located in the state of California. All loans and lines of credit are subject to credit approval and income and employment verification. Property insurance is required, and flood insurance may be required. Membership eligibility requirements apply.
The minimum Home Equity Credit Line is $20,000 and the maximum Line is $250,000, subject to loan to value and credit approval. A $350 Application Fee and $175 Document Preparation fee will be assessed at the time of closing. There is no annual fee. Borrower agrees to pay the credit union with a $300 early termination fee if the account is closed within 2 years. Borrower must pay mortgage reconveyance fees at loan termination. Additional fees may apply.
Borrower must be at least 18 years of age.
Terms and conditions are subject to change. Income restrictions and additional conditions may apply.
**Please consult a tax advisor about your specific tax situation.
Home Equity Loan Rates
| Combined-Loan-to-Value (CLTV) | Rate | APR* |
|---|---|---|
| <70% | 9.00% | 9.152% |
*Rates are effective 5/18/2023 and are subject to change without notice. APR = Annual Percentage Rate.
Loan repayment term is 15 years (180 months). Home Equity Loan rate is fixed for the duration of the loan.
Maximum Combined Loan to Value (CLTV) is 70%, including existing first mortgage and new second lien Home Equity Loan. All loans are subject to property valuation. Limited to owner occupied one-to-four family units located in the state of California. All loans are subject to credit approval and income and employment verification. Property insurance is required, and flood insurance may be required. Membership eligibility requirements apply.
Minimum Home Equity loan amount is $50,000 and maximum is $250,000. A $350 Application Fee and $175 Document Prep Fee will be assessed at the time of closing. All fees will be deducted from the proceeds of the loan, with the balance of the loan proceeds deposited to your SF Fire Credit Union checking or savings account. Additional fees may apply.
Payment example: A $50,000 loan with an APR of 9.152% for 180 months will have a monthly payment of $507.13.
Borrower must be at least 18 years of age.
Terms and conditions are subject to change. Income restrictions and additional conditions may apply.
**Please consult a tax advisor about your specific tax situation.
Discover More
Brie, world traveler.
BUYING A HOME
How much equity do I have?
You hear a lot about equity when it comes to home ownership. But what is home equity and how much equity do you have?
Learn More
Hannah & Martin, SFUSD supporters.
HOME EQUITY LINE OF CREDIT
Should you use a HELOC for home improvements?
A HELOC could help you finance a home improvement project. Find out if it's right for you.
Learn More
Let's Talk
As a local credit union, we measure our success one member at a time. We want to get to know you and help you achieve your goals. Come into a branch or call us today. Our people are happy to serve you.
Stop by a branch
Branch hours
Mon – Fri 9:30 AM – 5:30 PM
Saturday 10:00 AM – 2:00 PM
