Home Equity Line Of Credit (HELOC)

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.

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Compare our two unique Intro Rate HELOCs to determine which option is right for you. Choose either:

• A fixed introductory rate at 1.99% APR* for the first 12 months,  and thereafter as low as 4.75% APR for the months.¹
• Or a fixed introductory rate at 2.99% APR* for the first 24 months, and thereafter as low as 4.75% APR for the months.²

Get outstanding rates, benefits, and more with this exciting offer, along with features that include:

• 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

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*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 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 initial rate for the Intro Rate Home Equity Line of Credit is a fixed rate not based on the index and margin used for subsequent rate adjustments. The Intro Rate HELOC has two options: an initial rate of 1.99%  APR fixed for the first 12 months or an initial rate of 2.99% APR fixed for the first 24 months. After the introductory rate of 12 or 24 months the 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 4.75%, maximum APR 18.00%. Intro Rate Home Equity Line of Credit up to 80% CLTV with loan amounts of $10,000 - $500,000. 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. Offer not applicable on refinance of existing CommonWealth HELOCs. 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 refinancing of existing CommonWealth HELOCs or within 24 months after the closed date of the 12 mos or 24 mos Intro Rate Home Equity Line of Credit. All third-party fees associated with the loan at origination that was not collected at the 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. Rates, terms, and conditions are subject to change without notice.
Real Estate loans are available for owner-occupied properties in the state of California only.

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Premium Home Equity Line of Credit

The Premium Home Equity Line of Credit offers an APR* as low as 4.00% and offers an excellent outlet when you need to withdraw indeterminate funds at various times.

Enjoy benefits such as:

• Zero closure fees
• 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 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.
²The 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 4.75%, 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

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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.

 

	Intro Rate Home Equity Line of Credit	Premium Home Equity Line of Credit
Introductory Rate Options	Fixed for 1.99% (12 Months) Or 2.99% (24 Months)	None
APR* (As Low As)	4.75%	4.75%
Fixed Rate Option	•	None
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 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.

HELOC Calculator