It’s Easy to Access the Equity in Your Home

Have you dreamed of remodeling your home, but just didn’t have the money?

Now there is an easy way to tap into the equity in your home...with a Cabrillo Home Equity Line of Credit, or HELOC.

A HELOC is an easy and affordable way to:

  • Remodel your kitchen or bathroom
  • Install solar
  • Landscape your home
  • Consolidate other debt

It is also a great “safety net” for life’s unexpected emergencies.

We currently have a special promotion, where you can get a HELOC with an introductory rate of just 2.99% APR* through December 31, 2017. After that, the rate will be as low as 3.99% APR. Plus, as part of this special promotion, we are waiving the origination fees*. That’s a $650 savings to you.

  • 10-year draw period / 15-year repayment
  • 80% LTV maximum
  • Property must be in California and primary residence
  • Appraisal fees and closing costs up to $650 will be waived
 

* APR = Annual Percentage Rate. On approved credit. A Home Equity Line of Credit (HELOC) is a loan on your home and the amount of the loan is determined by the equity available. Rate is tied to Prime rate, as posted in the Wall Street Journal on the first day of each month. The first rate adjustment will take place 1/1/18. Rate can adjust monthly, but will never increase or decrease by more than 2% per year and is limited to a maximum interest rate of 10% greater than the initial rate. Minimum interest rate is 3.99%. Loan must be funded by 2/28/17 in order to obtain the introductory rate. Loan offers a 10-year draw period and a 15-year repayment. Balloon payment due on any unpaid balance at maturity date. 80% LTV maximum. Property must be in California and be primary residence. Please consult your tax advisor for possible tax benefits. Rates subject to change. Appraisal fees and closing costs up to $650 will be waived with an initial advance of at least $5,000 ($10,000 for a loan greater than $100,000) and an outstanding balance of at least $3,000 for 1 year. If the loan balance falls below $3,000 during the first year, all previously waived fees will be added to the balance of the loan. Cabrillo Credit Union reserves the right to discontinue the “No Fee” promotion at any time. NMLS 525546

 

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