Convert Your Home’s Equity into Cash

Home Equity Can Equal Cash

Equity is the difference between what you owe on your mortgage and the value of the home. You can borrow funds if you have 21% equity or more to get cash quickly and conveniently. Take advantage of home equity to:

• Complete a home project
• Pay off high-interest credit cards
• Buy a new boat or RV
• Help pay for college tuition
• Make a down payment on an investment property
• Take that much needed vacation!

Home Equity Loan

A Home Equity loan*, also known as a Second Mortgage, provides a one-time loan amount at a fixed rate over a set repayment period. Equity loans are perfect for one-time expenses such as; home improvements, debt consolidation, emergency and wedding expenses.

• Get the full amount of the loan at once
• Predictable monthly payments and defined pay off time frame
• Loans from $5,000 to $500,000 with low fixed rates for the duration of the loan
• Up to 80% Loan to Value  (depending on loan amount)
• No points* and No early closure fee, after the first 36 months
• Subject to credit approval; 1 to 4-unit primary residence in California only

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Home Equity Line of Credit (HELOC)

A HELOC** is a revolving credit line with a low, variable percentage rate. You only pay interest on what you actually use, so you have financial flexibility to handle whatever comes next.

• Loan amounts from $5,000 up to $500,000
• Low closing cost and low competitive rate with no origination points
• Up to 80% Loan to Value (depending on loan amount)
• No appraisal fee, No annual fee and No early closure fee, after the first 36 months
• Insurance on property required
• Subject to credit approval; 1 to 4-unit primary residence in California only
• Interest may be tax deductible**

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*No Closing Costs and No Points EXCEPT 1. Appraisal Fee: only if an electronic version is not available (usually if property is new or rural, etc.) and/or if loan amount requested is above $400,000 2. Title Update Fee: only if title/vesting changes are required after the policy is ordered. 3. Reconveyance Fee: only if an existing PremierOne CU Mortgage Loan or HELOC is being paid off/closed. The LTV allowed for loan amounts is based on your individual credit profile and other policy restrictions.

**This loan has a variable rate. The annual percentage rate can change quarterly on the first day of January, April, July and October. Minimum lifetime APR is 4.50%. Maximum lifetime APR is 18.00%. The APR is based on an index. The index is the WSJ Prime rate. Actual rate determined by applicant's individual credit profile. The minimum credit advance that you can receive is $5,000 for the first advance and $300 for each subsequent advance. We will charge your account $20.00 if you request an advance for less than the minimum advance amount permitted under this agreement. If you do not keep your line of credit open for at least three years, you will reimburse PremierOne CU the cost of establishing your line of credit. Lines must be secured by first or second deed of trust on your personal 1-4 unit residence in California. All loans are subject to credit approval. Some restrictions apply. Please consult a tax advisor regarding the deductibility of interest.

HELOC Early Disclosure
HELOC What You Should Know
Holden Act Notice
Home Mortgage Disclosure Act Notice