Home Equity Line Of Credit (HELOC)
Make your home investment work for you by accessing a revolving credit line.
From funding your child’s college education to the kitchen remodel you’ve always dreamed of, the equity in your home can be harnessed in many ways. Tapping into your home’s value enables you to make significant improvements to your way of life, including investing in remodeling services, consolidating high-interest debt accounts, and much more.
Home Improvement Expenses
High Interest Debt
Education Expenses
Wedding ExpensesEnjoy our Wealth Home Equity Line of Credit:
Get outstanding rates, benefits, and more with this exciting offer, along with features that include:
- Rates are as low as 8.50% APR1
- Borrowing up to 80% of your property equity
- Loans ranging from $10,000 to $500,000
- Draw periods of 10 years
- Repayment periods of 20 years
- Competitive rates and payment options
*APR = Annual Percentage Rate. The rate you receive will be based on certain creditworthiness. Please ask us for the rate for which you qualify. All rates are subject to approximate loan term limits and certain restrictions may apply. Rates, terms, and conditions are subject to change without notice. There are minimum loan amounts required for some loan terms. Contact us for minimum loan amounts by term, maximum loan amounts, and loan-to-value requirements. Additional conditions apply. Call (800) 564-1588 for additional information.
1The Wealth Home Equity Line of Credit APR can vary and is based on Prime Rate plus a margin of 0.00% to 5.00% based on credit rating. The APR is subject to change on the 10th of each month, based on changes to Prime Rate, the highest Prime Rate published in the Wall Street Journal "Money Rates" table on the 20th of the prior month. Minimum APR 4.00%, maximum APR 18%. During the draw period, you may withdraw (advance) funds up to your credit line limit and pay interest accrued on that balance monthly. After the draw period, you may not withdraw any more funds from the line. Your loan is then amortized and you begin to pay the principal and interest monthly. Wealth Home Equity Line of Credit up to 80% CLTV with loan amounts of $10,000 to $500,000. There are no loan processing or early closure fees and no prepayment penalty. Borrower is responsible for closing costs ranging from $450 to $1,500 including appraisal and escrow. Offer not applicable on refinance of existing CommonWealth HELOCs. All third-party fees associated to the loan at origination that were not collected at time of origination will have to be reimbursed to the credit union if the line of credit is closed within 24 months of the opening date.
Real Estate loans are available for owner-occupied properties in the state of California only. Membership in CommonWealth is required. HELOC offer is available for existing CommonWealth members and new members residing in the following counties in California: Santa Clara, San Benito, Alameda, Santa Cruz, Monterey, San Mateo, and San Francisco.
Premium Home Equity Line of Credit
The Premium Home Equity Line of Credit offers an APR* as low as 8.50% and offers an excellent outlet when you need to withdraw indeterminate funds at various times.
Enjoy benefits such as:
- No closing cost
- 10 year draw periods, 20 year repayment periods
- Loans ranging from $10,000 to $100,000
- Up to 80% of CLTV
- No third party fees2
*APR = Annual Percentage Rate. The rate you receive will be based on certain creditworthiness. Please ask us for the rate for which you qualify. All rates are subject to approximate loan term limits and certain restrictions may apply. Rates, terms, and conditions are subject to change without notice. There are minimum loan amounts required for some loan terms. Contact us for minimum loan amounts by term, maximum loan amounts, and loan-to-value requirements. Additional conditions apply. Call (800) 564-1588 for additional information. The Wealth Home Equity Line of Credit APR can vary and is based on Prime
2The Premium Home Equity Line of Credit APR can vary and is based on Prime Rate plus a margin of 0.00% to 5.00% based on credit rating. The APR is subject to change on the 10th of each month, based on changes to Prime Rate, the highest Prime Rate published in the Wall Street Journal "Money Rates" table on the 20th of the prior month. Minimum APR 4.00%, maximum APR 18%. During the draw period, you may withdraw (advance) funds up to your credit line limit and pay interest accrued on that balance monthly. After the draw period, you may not withdraw any more funds from the line. Your loan is then amortized and you begin to pay the principal and interest monthly. Premium Home Equity Line of Credit up to 80% CLTV with loan amounts of $10,000 to $100,000 and no closing costs. There are no loan processing or early closure fees and no prepayment penalty. Offer not applicable on refinance of existing CommonWealth HELOCs. All third-party fees associated to the loan at origination that were not collected at time of origination, will have to be reimbursed to the credit union if the line of credit is closed within 24 months of the opening date.
Real Estate loans are available for owner-occupied properties in the state of California only. Membership in CommonWealth is required. HELOC offer is available for existing CommonWealth members and new members residing in the following counties in California: Santa Clara, San Benito, Alameda, Santa Cruz, Monterey, San Mateo, and San Francisco.
HELOC Rates
Want to know how much you could earn, save, and borrow from CommonWealth Central Credit Union? Compare our options and find the perfect account for your lifestyle.
|
|
Wealth Home Equity Line of Credit | Premium Home Equity Line of Credit |
|---|---|---|
| APR* (As Low As) | 8.50% | 8.50% |
| Interest-Only Option | • | • |
| Early Closure Fee |
None |
None |
| 3rd Party Fees |
$450-$15001 |
None2 |
| No Pre-Payment Penalties | • | • |
| No Annual Fee | • | • |
| Equity Checks | • | • |
| 24/7 Loan Application Center | • | • |
| Online Banking Access | • | • |
| Draw (borrowing period) |
10 years |
10 years |
| Repayment |
20 years |
20 years |
| Loan Amounts up to 80% CLTV |
$10,000 - $500,000 up to 80% CLTV |
$10,000 - $100,000 up to 80% CLTV |
*APR = Annual Percentage Rate. The rate you receive will be based on certain creditworthiness. Please ask us for the rate for which you qualify. All rates are subject to approximate loan term limits and certain restrictions may apply. Rates, terms, and conditions are subject to change without notice. There are minimum loan amounts required for some loan terms. Contact us for minimum loan amounts by term, maximum loan amounts and loan-to-value requirements. Additional conditions apply. Call (800) 564-1588 for additional information.
1Borrower is responsible for closing costs ranging from $450 to $1,500, including appraisal and escrow.
2All third-party fees associated with the loan at origination that were not collected at time of origination, will have to be reimbursed to the credit union if the line is closed within 24 months of the opening date.
How Can You Apply
We’ve Made Applying For a Home Equity Line of Credit Easier Than Ever
