Tony and Lisa, SF Natives.
Putting them first since 1991.

HOME EQUITY

Use your home's value with variable or fixed rate options.

If you're planning a large project, paying for a life event like a wedding, or just need some extra cash, a Home Equity Line of Credit or Home Equity Loan could be the answer.

Why Use Home Equity?

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

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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

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Home Equity Line of Credit Rates

Term

HELOC (prime + .75%)

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APR*Loan-to-Value (LTV)
8.25%<80%
Term

HELOC (prime + 1.75%)

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APR*Loan-to-Value (LTV)
9.25%80-85%

*APR is 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 an as-low-as margin of 0.75% APR (the Prime Rate is 7.50% as of December 15th, 2022) for those account holders whose total mortgage loans, including your SF Fire Credit Union Home Equity Line of Credit, do not exceed 80% of the value of your 1-4 family owner-occupied primary residential property in CA. The variable rate APR for account holders whose total mortgage loans, including your SF Fire Credit Union Home Equity Line of Credit  are greater than 80% but do not exceed 85% of the value of your 1-4 family owner-occupied primary residential property in CA will be the prime rate plus an as-low-as margin of 1.75% APR.

The Minimum Home Equity Credit Line is $20,000. A $250 Application Fee and $170 Notary Fee will be assessed at the time of closing. An appraisal fee and other closing costs including title, escrow, and recording fees will be assessed on credit requests of more than $250,000. These charges are estimated to range from $1,900 to $3,300. There is no annual fee. Borrower agrees to reimburse 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. Property insurance is required and flood insurance may be required. Rates and terms are subject to change. 

SF Fire Credit Union reserves the right to approve or decline member credit applications based on the following conditions: Member must be the owner of primary residential real estate property located in CA in which you live, member and co-applicant must have a verifiable income and must meet our standard credit items and policies.

Member 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

Term

Home Equity Loans

Apply Now

Combined-Loan-to-Value (CLTV)RateAPR*
<80%7.75%7.924%
80-85%8.75%8.934%

*Rates are effective 12/28/2022 and are subject to change without notice. APR = Annual Percentage Rate. Certain restrictions may apply. Maximum Combined Loan to Value (CLTV) is 85%, including existing first mortgage and new second lien Home Equity Loan. All loans are subject to property valuation, limited to one-to-four family units located in the state of California. All loans are subject to credit approval and income and employment verification. Membership eligibility requirements apply.

Loan repayment term is 15 years (180 months). Home Equity Loan rate is fixed for the duration of the loan. 

Payment example: A $50,000 loan with an APR of 7.92% for 180 months will have a monthly payment of $470.64. A $275,000 loan with an APR of 8.40% will have a monthly payment of $2667.89. Other rates available. 

Minimum loan amount is $20,000. A $425 Application Fee will be assessed at the time of closing. An appraisal fee and other closing costs including title, escrow, and recording fees, will be assessed on credit requests more than $250,000. These charges are estimated to range from $1,900 to $3,300. 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.

SF Fire Credit Union reserves the right to approve or decline member credit applications based on the following conditions: Member must be the owner of primary residential real estate property located in CA in which you live, member and co-applicant must have a verifiable income and must meet our standard credit items and policies.

Member 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.
Putting her first since 1994.
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
Brie, world traveler.
Putting her first since 1994.
Hannah & Martin, SFUSD supporters.
Putting them first since 2017.
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
Hannah & Martin, SFUSD supporters.
Putting them first since 2017.

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.

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(415) 674-4800
(888) 499-FIRE (3473)
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