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Last Updated: 04/18/2025

Credit Union of Southern California Home Equity Line of Credit

from Credit Union of Southern California

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

Up to $250,000

Maximum LTV

80%

Minimum Draw

N/A

Loan Term (Years)

Starting at 15

Credit Union of Southern California Home Equity Line of Credit Review

Credit Union of Southern California Home Equity Line of Credit is offered by Credit Union of Southern California (NMLS #454788), a credit union founded in 1954 and based in wHITTIER, CA. Credit Union of Southern California Home Equity Line of Credit are available in 1 state.

Key Takeaways

Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Credit Union of Southern California Home Equity Line of Credit does offer financing for primary and secondary homes (e.g. vacation properties).
No-closing-cost mortgages available. This option allows you to include the closing costs into the new loan, so you don't pay for these expenses upfront.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Maximum LTV. Credit Union of Southern California Home Equity Line of Credit has a maximum loan to value ratio of 80%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Credit Union of Southern California Home Equity Line of Credit.

Credit Union of Southern California Home Equity Line of Credit Pros & Cons

Pros

Cons

Charges an origination fee.
Charges prepayment fees.
Only available in 1 state.

Credit Union of Southern California Home Equity Line of Credit FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $250,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

The maximum loan-to-value (LTV) ratio goes up to 80%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $60k in credit.

What are the terms for Credit Union of Southern California Home Equity Line of Credit?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

Credit Union of Southern California Home Equity Line of Credit offers a draw period of up to 10 years

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What is the estimated funding time for a HELOC?

The HELOC through Credit Union of Southern California can fund in as few as 14 days after approval.

What fees does Credit Union of Southern California Home Equity Line of Credit charge for a HELOC?

Credit Union of Southern California Home Equity Line of Credit may charge an origination fee.

What types of property can you use as security for a HELOC with Credit Union of Southern California Home Equity Line of Credit?

Credit Union of Southern California may consider HELOCs secured by the following property types:

Primary residences
Secondary or vacation homes

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

11749 Whittier Blvd.

wHITTIER, CA 90601

(562) 945-2214

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

9:00AM - 5:00PM

Tuesday

9:00AM - 5:00PM

Wednesday

9:00AM - 5:00PM

Thursday

9:00AM - 5:00PM

Friday

9:00AM - 5:00PM

Saturday

9:00AM - 1:00PM

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SuperMoney Net Recommendation Score

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-1000+100

No one recommends

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