Home Equity

Tap into your home equity for extra cash

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Extra cash can go a long way toward a major purchase or dealing with one of life’s little surprises. Using your available equity, you can pay for tuition, home improvements, a vacation, unexpected auto repairs, pay off high-interest credit card and personal loan debts, consolidate your bills, take advantage of a real estate investment, and more!

Home Equity Line of Credit vs. Home Equity Loan

Home Equity Line of Credit (HELOC)

As a California homeowner, you can tap your equity easily and affordably for any purpose. Upon approval of your HELOC, we’ll establish a credit limit, so you will only need to apply once for this revolving line of credit. And, since you only pay interest on the actual amount you use, it’s perfect for an emergency fund! Loan limits range from $10,000 to $250,000 depending on your combined loan-to-value and credit scores.

  • Interest-only terms available
  • No up-front costs or annual fees
  • Pay interest only on the amount you borrow
  • 100% advance availability

Because the balance of a HELOC may change from day to day, you pay interest on what you borrow. You have the option to choose the lowest payments with an interest-only HELOC, which allows you to pay only the interest on the loan for up to 10 years. After 10 years this loan will amortize out over the next 15 years. Or, choose a traditional HELOC where your payment is higher, but you’ll pay your loan off sooner because you’re making both principal and interest payments.

Second Trust Deeds

A Second Trust Deed is a closed-end, fixed-rate equity loan perfect for when you’re borrowing for a specific purpose. Borrow only as much as you need!

  • $10,000 to $250,000
  • 10- or 15-year terms
  • Fixed-rate payments that never change
as low as Prime
3.50%
APR

See Current Rates

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Must qualify for USCCU membership and membership fee may apply; please call or visit www.USCcreditunion.org to confirm eligibility.
*Rate is for combined loan-to-value of 75% (Interest Only) and 80% (Traditional) or less, owner occupied homes and require a FICO score of 720+. Higher rates may apply, depending on credit and combined loan-to-value. Credit limits up to $250,000. Appraisal may be required. No annual fee. Your APR can adjust monthly and is based on the Prime Rate as published in the Wall Street Journal. Maximum advance period of 10 years, with a 15 year repayment period. $10,000 minimum advance required. Minimum loan balance of $8,000 must be maintained for first 12 months; otherwise, a $400 fee will be assessed. Minimum loan rate of 3.50% APR. Floor Rate of 3.25% APR; Maximum loan rate: 18% APR. A sample monthly payment for a 75% interest only HELOC, credit score of 720+ with a balance of $10,000 at 3.50% is $29.17; a sample monthly payment for an 80% traditional HELOC, credit score of 720+ with a balance of $10,000 at 3.50% is $150. Interest paid may be up to 100% tax deductible. Consult your tax advisor.
** Consult your tax advisor.