Turn your dreams into a reality.
What is a home equity line of credit (HELOC)?
A HELOC is simple. If you own your home, a HELOC through Tucoemas allows you to borrow up to 80% of its available equity. With this set credit limit, you can borrow as you need, for whatever you need. With each payment towards your borrowed balance your line of credit is replenished, just like a credit card! Dreamy right?
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Don't want to apply online?
You can pick up a HELOC package at any branch location or contact our loan department at 559-732-8892 to have a HELOC package mail to you.
The Annual Percentage Rate (“APR”) is variable, based on an index plus a margin and subject to change. The margin is based on your credit rating. The APR includes only interest and no other costs. The draw period is 10 years; after the draw period ends, the length of repayment will depend on the date and the amount of last advance but in no event will exceed 120 months. A HELOC is secured by a first or second mortgage lien on your home, which must be Single family residence, condominium or townhouses and excludes Mobile Homes and Manufactured Homes. It is available for up to 80% of the combined loan-to-value of the property securing the loan, and only on properties located in California. Rates and terms subject to change without notice. Credit is subject to credit review and approval; not all applicants will qualify. Flood and property hazard insurance may be required. Other restrictions apply.
IMPORTANT TERMS of our HOME EQUITY LINE OF CREDIT
- Tucoemas Federal Credit Union is federally insured by NCUA
- Equal Housing Lender
- Equal Opportunity Employer