Home Equity Line of Credit
It all starts with membership
Membership is open to those living or working in Torrance, Redondo Beach, Palos Verdes, Hawthorne, Lawndale, or Lennox
Home Equity Line of Credit
4.0% apr for 12 months
The TCCU HELOC is our most popular loan, and it’s no wonder! If you are borrowing against the home you live in, and you live in California, this is the loan for you! Borrow up to 80% of the value of your home up to $200,000. Repayment is based on a 25-year term. The intro rate is only available on first-time TCCU HELOCs. Download the HELOC application, Statement of Information, and Form 4506 from the links below to get started. A loan officer will provide you with a list of other required documents. Not a member yet? Visit our Membership page for the details. Visit Our How to Join Page
Disclosure
Here’s the fine print: Membership is required for loan qualification. Intro Rate is on the first TCCU HELOC only. *APR=Annual Percentage Rate. The current fully indexed APR is 8.00% to 10.50% for a conventional HELOC and an additional 0.25% for an interest-only HELOC. Rate is based upon Prime Rate minus 0.5% for the conventional HELOC and Prime Minus 0.25% for Interest-only HELOC with a floor rate of 3.00% APR for top tier credit and is subject to change after your introductory rate expires, then every six months. The maximum interest rate cannot exceed 6% APR above the fully indexed rate or 18%, whichever is less. Rates are effective as of 01/02/2024 and apply to HELOCs with a Combined Loan to Value (CLTV) of 80%, up to $200,000. The draw period is for 10 years. After the draw period ends, the loan is fully amortized to pay off within 15 years. All loans are subject to credit approval, title search, and verification of equity. Homeowner’s insurance and flood insurance, if applicable, are required. The introductory rate of 4.0% apr for one year is applicable to first-time TCCU HELOCs only. Fees apply for loans of more than $200,000. Rates are current as of January 2, 2024.
Prime Home Equity Fixed Loan
Rates start as low as 8.00% APR*. 15-year amortization and a 5-year balloon payment. No introductory rate. Interest may be tax-deductible. Please consult your tax adviser for potential tax breaks.
TCCU NMLS 777129