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Home Equity Loans and Lines of Credit

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    Make Your Home Work For You!

    A home equity loan or line of credit is a quick and convenient way turn your home’s equity into cash. Get the money you need now to finance home improvement projects, to pay for unexpected expenses, or to consolidate debt.
    Repay your loan over time at a competitive interest rate.

    What’s The Difference?

    A home equity loan is a fixed-rate loan that enables you to take out a lump sum of cash, secured by the equity you have in your property. Borrow up to 80% of your home’s value.

    A home equity line of credit (HELOC), is an adjustable-rate line of credit secured by the equity in your home. Draw upon your line of credit as needed for remodeling projects, paying off high-interest credit cards, auto repairs, medical bills, vacations, weddings, tuition, or any need you may have.

    Have questions? Call (877) 695-2732 or book a free virtual appointment today!

     

    • Fixed-rate loans available
    • Open-ended line of credit, secured by your property
    • Up to 80% loan to value¹

  • Rates

    Home Equity Loans

    Fixed Rate APR*
    Fixed Rate Equity Loan Up to 80% Loan to Value
    Up to 84 months 7.250%
    85 – 120 months 7.500%
    121 – 180 months 7.625%
    181 – 240 months 8.000%

    EFFECTIVE RATE DATE: July 27, 2023

    *APR = Annual Percentage Rate. 7.250% fixed APR is based on a loan term of up to 84 months. Minimum loan amount $25,000. Maximum loan-to-value is 80% for owner occupied properties, and 70% for non-owner occupied properties. Maximum term on owner occupied properties is 20 years, and 15 years on non-owner occupied properties. Loans available on 1-4 family dwellings. Property hazard insurance is required. Home Equity Loans are available for properties located in California, Arizona, Colorado, Idaho, Montana, Nevada, Oregon and Utah. 7-year rate term payment example (effective date July 27, 2023): $35,000 loan with 7.250% fixed APR for 84 months would cost $15.22 per $1,000 borrowed. All loans are subject to credit approval and applicable LAPFCU policies. All advertised rates and terms are subject to change without notice. Your actual payment may vary. Restrictions apply, ask for complete details.

    Home Equity Line of Credit

    Variable APR**Home Equity Line of Credit (HELOC)
    9.00%Up to 80% Loan to Value
    Minimum Line $25,000

    APR = Annual Percentage Rate. 9.00% Variable APR (rate effective July 1, 2023) for Home Equity Lines of Credit. Minimum loan amount of $25,000 and a minimum draw of $5,000 at funding. Variable rates may increase or decrease during the term of the agreement and is tied to the (WSJ) Prime Rate + 0.75% margin. Maximum life APR cap is 18%. Property hazard insurance is required. 80% combined loan to value for owner occupied or second home properties located in California only. All loans are subject to creditworthiness. $500.00 fee for early termination if closed prior to two (2) years. If balance is at zero, a yearly draw of $100.00 is required to avoid the non-usage fee of $75.00. All rates and terms are subject to change without notice. Other restrictions may apply, ask for details.

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Questions? Call us (877) 695-2732

Disclosures

¹Home Equity Loans are available on 1-4 family dwellings and for properties located in California, Arizona, Colorado, Idaho, Montana, Nevada, Oregon and Utah. Maximum loan-to-value is 80% for owner occupied properties, and 70% for non-owner occupied properties. Maximum term on owner occupied properties is 20 years, and 15 years on non-owner occupied properties. Property hazard insurance is required. All loans are subject to credit approval and applicable LAPFCU policies. Other restrictions may apply, ask for complete details.