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Extra Cash To Help Achieve Your Goals

With a Home Equity Loan or Line of Credit (HELOC) from the Credit Union of Southern California (CU SoCal), you’ll get the extra cash you need—without the extra costs.

Access up to 80% of your home's equity for repairs, renovations, or just about anything your heart desires. We offer the choice of either a lump-sum loan or a revolving credit line that can be used over and over again.

For over 60 years, CU SoCal has been helping homeowners leverage the equity in their homes to achieve their financial goals, offering some of the lowest home equity loan interest rates in the industry.

So, what are you waiting for? Apply online for a home equity loan or a home equity line of credit at CU SoCal today!

Why Southern California Homeowners Choose CU SoCal

At CU SoCal, we’re here to help you get the most out of your home. Whether you need money for renovation and repairs—or simply some extra cash for a long-deserved vacation, we’re here to help you utilize your home’s value to achieve your financial goals.

We offer some of the lowest rates for both home loans and home lines of credit (HELOC).
Our HELOCs offer attractive terms including no closing costs and generous limits up to $500,000.

No Appraisal Fee for HELOCs $250,000 and Below

We’re here for you, helping you save big in a wide variety of ways. Our advisers are focused on helping you achieve your financial goals rather than making a commission. That’s why we’ve waived our appraisal fee for HELOCs $250,000 and below; so that you can maximize your money and make those big purchases quicker than ever.

No Closing Costs

We believe in making a difference, not a profit, which is why we’re committed to reducing or eliminating fees wherever we can. In addition to waiving the traditional appraisal fee, we’ve eliminated any closing costs as well.

Unlike other banks or credit unions, we’ve managed to eliminate closing costs without raising rates, which is just another way we’re looking out for you. Trust CU SoCal and see why we’re the premier pick for a credit union HELOC or Home Equity loan.

Competitive Rates

CU SoCal proudly offers some of the most competitive rates of any credit union or bank. Because our home equity loans and credit lines are secured against the value of your home, we can offer even lower rates than our other loan products.

Whether it’s a low fixed rate on a home equity loan or a generously low promotional rate on a HELOC, CU SoCal can help you maximize the value of your home’s equity.

Generous Limits Up to $500,000

Our home equity loans and lines of credit come with generous lending limits of up $500,000, so no matter what your financial goals may be, we can help you achieve them!

Whatever your plan is, make it happen with:

A home equity loan or line of credit from CU SoCal is one of the best ways to make the value of your home work for you.

A home equity loan or HELOC allows you to leverage the equity in your home to help you achieve your financial goals. Whether you’re looking to start that big renovation, make emergency repairs, or simply need additional cash-on-hand, we’re here to help make it happen.
  • No points.
  • No appraisal fees for HELOCs $250,000 and below.1
  • No annual fee.
  • No closing costs.1
  • A generous limit up to $500,000.
  • Possible tax deductions on interest payments.2
Additionally, CU SoCal offers an interest-only option with our Home Equity Line of Credit. Paying only the interest due each month gives you the flexibility to keep payments low during the 10-year draw period of your HELOC.

Two Great Options to Use Your Equity

Whether you’re looking to repair or renovate your home, pay for your child’s education, or simply need to cover an emergency expense, leveraging your home’s equity with a home equity loan or line of credit may be the perfect solution.

A home equity loan or line of credit is a loan secured against the current equity in your home, giving you the cash to cover anything you need or want.

Our home equity loans provide you the total value of your home’s equity in a lump-sum amount, while our home equity line of credit allows you to tap into a generous revolving credit line as needed. With generous lending limits of up to $500,000, you can easily achieve your financial goals.


A home equity line of credit, or HELOC, is a revolving line of credit that operates similarly to a credit card. You’re able to tap into it as needed by simply writing a check or transferring funds to another account.

You can make major purchases, consolidate debt, cover emergency expenses, and much more with this flexible credit line. We offer some of the lowest HELOC interest rates available, helping you to maximize your money and save even more.

  • Rates as low as 8.50APR.3

Home Equity Loan4

A home equity loan is a lump-sum loan for a fixed amount that is secured against your home. Like your mortgage, you repay the loan in equal monthly payments over a fixed-term. With this option, you’ll readily have access to a large lump-sum and utilize however you see fit. We offer some of the best home equity loan interest rates in the industry, which is just another way we’re here to help you save.

  • Low, fixed rate of 7.50%APR.5
  • Affordable 15- to 25-year repayment plan

HELOC Loan Rates

With a home equity line of credit from CU SoCal, you’re able to access the money you need—when you need it.

Our revolving line of credit offers some of the top HELOC rates available today. 

Contact a CU SoCal Real Estate Loan Consultant today and see why a credit union HELOC might be right for you.
Amount Max CLTV1 APR2
Up to $250,000 80% 8.50
Up to $500,000 70% 8.50
1. Combined loan to value (LTV) not to exceed 80% of the appraised property value. Maximum loan amount is subject to credit qualification and appraised property value. Appraisal fees are applicable for HELOCs above $250,000. HELOC is only available on owner-occupied California properties including single-family residences, condominium and two-, three-, or four-unit properties. Properties with construction work in progress may not be eligible. Borrower responsible for payment of property taxes and homeowners insurance.

2. APR=Annual Percentage Rate. Offer available only for new CU SoCal HELOCs or refinanced HELOC from outside lender. NMLS#454788

Credit Union of Southern California is located at 8101 E. Kaiser Blvd., Suite 300, Anaheim, CA 92808

Home Equity Loan Rates

Contact a Real Estate Loan Consultant from CU SoCal today and see what a credit union home equity loan can do for you.
Amount1 Term Max CLTV2 Rate Points APR Est. Payment Per $1,0003
Up to $250,000 Up to 25 Years 75% 8.00% 0 8.00% $7.72
Up to $150,000 Up to 15 Years 80% 7.50% 0 7.50% $9.27
Up to $150,000 Up to 25 Years 80% 8.00% 0 8.00% $7.72
Up to $250,000 Up to 15 Years 75% 7.50% 0 7.50% $9.27
Up to $250,000 Up to 20 Years 75% 7.75% 0 7.75% $8.21
Up to $150,000 Up to 20 Years 80% 7.75% 0 7.75% $8.21

1. Maximum loan amount subject to credit qualification and appraised property value.
2. Combined Loan-to-Value (CLTV).
3. Payment factor is based on a 15-year term, 20-year term, or 25-year term. The rates and prices quoted above are effective as of 3/6/2024, are not guaranteed and are subject to change without notice. CU SoCal offers a variety of real estate loan programs. For more information, please call a CUSoCal home loan specialist at 800.698.7196.

Answers to some of our most commonly asked questions about Home Equity Lines of Credit are below.

Q: What is a home equity line of credit (HELOC)?

A home equity line of credit is a type of revolving credit that uses your home as collateral.

Q: How does a HELOC work?

The HELOC includes a draw period of 10 years followed by a repayment period of 15 years. During the draw period, you can borrow as much or as little as you need, whenever you need it.  During the draw period, as you repay your outstanding balance, the available credit amount is replenished. This means the amount you can borrow increases, up to your credit limit.

Q: What is the HELOC interest rate?

The interest rate is variable, based on the Prime Rate plus a margin.

Q: How is the HELOC monthly payment determined?

The monthly payment amount during the draw period is interest only based on the outstanding balance. We encourage you to pay more than the minimum amount due to rebuild the equity into your home and reduce the total amount of interest you will owe.  The monthly payment during the repayment period is principal and interest based on the outstanding balance.

Q: How do I know if I’m eligible for a CU SoCal HELOC?

Once we receive your application for a HELOC we review several criteria, such as your credit history, employment, income and the amount you’re requesting to borrow. We also consider your loan-to-value (LTV) ratio, which is the total amount you want to borrow plus your remaining mortgage loan balance divided by the value of your home.

Q: How do you determine the value of my home?

CU SoCal uses multiple sources to determine your property value, including ownership deeds, recent home sales reports, property records and other mortgage records. We may also get an appraisal of the property during your application process to confirm its value to support your requested line amount.

Q: Does the home I’m requesting to use as collateral need to be my primary residence?

Yes. Eligible property types include single-family residences (such as a house or townhouse), attached single-family residences (condominium) and owner-occupied two- to four-unit residences.

Q: How much can I borrow?

Your credit limit will depend on the amount of equity in your home, your income, your credit history and property location. We also consider your LTV ratio; some HELOC products have LTV up to 80% of the value of your home.

Q. Can I apply for a CU SoCal HELOC if I’m self-employed?

CU SoCal HELOCs are available to self-employed members. We will review your income documentation, including your business and personal tax returns along with other documents to demonstrate your ability to repay. 

Q. Can retirees apply for a CU SoCal HELOC?

You can apply for a HELOC if you’re retired. We will need previous two years’ tax returns, pension/Social Security award letters and IRA/investment statements along with other documents to demonstrate your ability to repay. 

Q. What are the major pros of getting a CU SoCal HELOC?

Use what you need, when you need it. Borrow the money you need to consolidate high-interest debts, to complete home improvements or home repairs, or for other large expenses that you wish to pay over time.
Reduce your interest payments. Interest rates for a HELOC are usually lower than those for personal loans and credit cards. You may be able to lower your interest payments by consolidating your debt into a HELOC, which will save you more over time.
Potential income tax benefits. If you use your HELOC for home improvements, a portion of your interest may be tax deductible. Discuss your situation with your tax advisor to determine what interest may be deductible.

Q. How can I compare different HELOC options?

Comparing the annual percentage rate (APR) of different HELOC options and lenders may not be enough to find the right option for you because the APR only considers the interest rate on the line of credit. You should ask lenders about any fees, payment options and the length of their draw and repayment periods when comparing your options.

Q. How soon can I access my HELOC?

Once you sign the HELOC loan documents, you have a three-day period called your “right of rescission” and it must pass before you can access your line of credit. Once your right-of-rescission period is over, funds can be disbursed on the fourth business day after signing.

Q. How do I access my CU SoCal HELOC?

You can transfer funds to your CU SoCal checking account or to an external account via online banking, or in person at your nearest branch. You can use your HELOC checks to draw money from your account. 

Q. How long will it take to obtain a new CU SoCal HELOC?

It takes up to 30 days to finalize and fund your CU SoCal HELOC after you submit your application and required supporting documents and complete any required disclosures. 

Q. Why is my interest rate variable and how does it affect my monthly payments?

The interest rate of your HELOC is variable, which means your minimum payment amount may change when your rate changes. You can always make additional principal payments online, in person at any CU SoCal branch or by mail using the payment coupon attached to your monthly statement.

Q. What are my payment options when I begin my repayment period?

Continue making your monthly payments. No action is required on your part for this change to happen. You’ll see your new payment amount on your monthly statements. You can also pay off the outstanding balance at any time.
You could also refinance your outstanding balance into a new home equity account or new mortgage if you meet current credit criteria.  Contact us before your draw period ends to discuss your options.

Q. Can I extend my CU SoCal HELOC draw period?

The draw period for your existing CU SoCal HELOC cannot be extended. You could refinance your outstanding balance into a new home equity line of credit or mortgage loan if you meet current credit criteria.

Q. Will my minimum monthly payment go up?

Your minimum monthly payment amount may be adjusted when your repayment period begins, depending on the terms of your credit agreement.

Q. What do I need to do if I want to continue making automatic payments each month?

No action is required on your part for this automatic payment service to continue. However, please consider the impact on your checking account if your minimum payment amount is expected to increase. 

Q. I've already paid off my outstanding balance. Is there anything I need to do to close my account?

Yes, please contact us to request a payoff quote because you may be required to pay a lien-release fee from the county clerk's office to close your account.

Q. What is a lien-release fee and why am I required to pay it?

Your county clerk's office charges a fee for processing the release of the lien on your property. Your payoff quote will show this fee, which you're required to pay to close your home equity line of credit.

Apply Online for a Home Equity Loan Today!

For over 60 years, the Credit Union of Southern California has been proudly serving the communities of Los Angeles, San Bernardino, Orange, and Riverside counties.

We empower our Members to achieve their financial goals, whatever they may be. We offer competitive rates and flexible terms on a variety of banking products and services, including home equity loans and lines of credit.

So, whether you’re looking to utilize your home’s equity, get a credit card, or start a savings account, trust CU SoCal to be the premier pick to handle all of your banking needs.

Apply Today

Get 6.375% APR6 With Our Premier 5/5 ARM

Don’t let rising mortgage rates shut you out of the housing market! CU SoCal’s 5/5 ARM (Adjustable Rate Mortgage) has an initial rate as low as 6.375‚Äč% APR for the first five years of the loan, far below current average rates on 30-year fixed rate loans. The 5/5 ARM is our most popular loan right now!

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Hear from others like you who made it happen.

Excellent experience with auto and home equity loans. User friendly website and ability to deposit checks with my phone.

Terri, Brea

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Frequently Asked Questions (FAQs) for Home Equity Loans and Line of Credit

When first applying for a Home Equity Line of Credit (HELOC), the lender will do a “hard credit inquiry” and use your credit information to determine your level of risk and if you qualify for the loan. A hard credit inquiry will cause a small temporary drop in your credit. If you are approved for the loan and make on-time monthly repayments your credit score will increase.
According to the IRS, interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or substantially improve the taxpayer’s home that secures the loan.
Knowing the differences between a HELOC and a Cash-Out Refinance can make all the difference, especially when you need cash fast. The most distinguishing characteristic of a Home Equity Line of Credit (HELOC) is that it is a line of credit. This allows borrowers to withdraw any amount up to the credit limit designated by the lender. Cash-out refinancing is when a homeowner refinances their mortgage to a new mortgage, typically to benefit from a lower interest rate.
HELOC processing time can be relatively quick, usually about two to six weeks, from the time a borrower completes a loan application until the loan is funded. The first step is to meet the lender’s eligibility requirements.
Yes, you can refinance a Home Equity Line of Credit, and there are several refinancing options. Or, you may not need to refinance if your lender allows you to do a loan modification to lower the interest rate or convert to a fixed rate loan.
The maximum HELOC amount that will be offered to you will depend on whether your ability to meet the lender’s HELOC eligibility requirements. HELOC qualification requirements may include your credit score, how much equity you have in your home, and other lender-specific factors.
The HELOC is popular with homeowners because it has a lower interest rate than credit cards. And you can use the money from a HELOC any way you’d like: make home improvements, pay off student loan debt, consolidate high-interest credit card debt, start a business… the possibilities are endless.
Similar to a home equity line of credit, the amount of a home equity loan you can get will largely depend on home much equity you have in your home.
While a Home Equity Line of Credit (HELOC) can be a powerful tool for paying for large expenses, one major HELOC disadvantage is that the borrower’s home is used as collateral to secure the loan. If the loan is not paid back on time or the loan is in default, the lender can take possession of the home.

Make it happen.

If you live, work, worship or attend school in Los Angeles County, Orange County, Riverside County, or San Bernardino County, we can make your plans a reality. Call us at 866.287.6225 to apply for your CU SoCal Home Equity Loan or Line of Credit.

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Credit Union of Southern California (CU SoCal) is a leading financial institution empowering those who live, work, worship, or attend school in Orange County, Los Angeles County, Riverside County, and San Bernardino County to reach their goals and build strong financial futures. CU SoCal provides access to convenient money management services and offers competitive rates and flexible terms on auto loans, mortgages, and VISA credit cards—turning wishing and waiting into achieving and doing.


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