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Home Equity Lines of Credit
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Last Updated: 04/18/2025

Monterra Credit Union Home Equity Lines of Credit

in Home Equity Lines of Credit from Monterra Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A


Amount Range

$25,000 - $400,000

Maximum LTV

N/A


Minimum Draw

N/A


Loan Term (Years)

Up to 15

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Monterra Credit Union Home Equity Lines of Credit Review

Monterra Credit Union Home Equity Lines of Credit is offered by Monterra Credit Union (NMLS #416747), a credit union founded in 1952 and based in Redwood City, CA. Monterra Credit Union Home Equity Lines of Credit are available in 50 states, 5 US territories, and Washington, DC.

Key Takeaways

  • No primary residences considered. Monterra Credit Union Home Equity Lines of Credit does not offer financing for primary homes.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

Monterra Credit Union Home Equity Lines of Credit Pros & Cons

Monterra Credit Union Home Equity Lines 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 $400,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
Typically, borrowers with good credit can qualify for up to 85% of the property value, minus the balance on their first mortgage.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Monterra Credit Union Home Equity Lines of Credit charge for a HELOC?

Monterra Credit Union Home Equity Lines of Credit may charge an origination fee.

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Contact

Headquarters

P.O Box 910
Redwood City, CA 94064
Visit Site

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 - 2:00PM

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