Last Updated: 04/18/2025
Credit Union of Southern California Home Equity Loan
Unaffiliated
Last Updated: 04/18/2025
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Highlights
Credit Score Range
N/A
Amount Range
Up to $250,000
Maximum LTV
80%
Loan Term (Years)
15 - 25
Credit Union of Southern California Home Equity Loan Review
Credit Union of Southern California Home Equity Loan 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 Loan 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 Loan 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 Loan has a maximum loan to value ratio of 80%.
Credit Union of Southern California Home Equity Loan Pros & Cons
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Credit Union of Southern California Home Equity Loan FAQ
How much can you borrow with a Credit Union of Southern California Home Equity Loan home equity loan?
A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.
Credit Union of Southern California Home Equity Loan allows borrowers to apply for home equity loans of up to $250,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
What are the home equity loan requirements of Credit Union of Southern California Home Equity Loan
This lender's maximum loan to value rate is 80%. That means the total debt secured by the property cannot exceed 80% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $60k.
Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.
What fees does Credit Union of Southern California Home Equity Loan charge for a home equity loan?
Credit Union of Southern California Home Equity Loan may charge a loan origination fee
What types of property can you use as security for a home equity loan with Credit Union of Southern California Home Equity Loan?
Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Credit Union of Southern California Home Equity Loan will consider loans secured by the following property types:
- Primary home.
- Secondary homes and vacation properties.
Is Credit Union of Southern California a legit company?
Credit Union of Southern California was founded in 1954, it is a well-established company that has been in business for 72 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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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