Special Rate Home Equity Line of Credit (HELOC)

Get a rate as low as 4.99% APR1 for six months. Variable rate after the initial six months.

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DONNA I. MEMBER SINCE 1995

Unlock the equity in your home for improvements, large purchases or paying off debt

 

Large borrowing limits: Up to $500,000, depending on your home's occupancy.2

 

Lower interest rate than credit cards and unsecured loans.

 

Flexible — borrow what you need, when you need it.

 

Interest may be tax-deductible (ask your tax professional).

 

No lender origination fees.

 

No annual maintenance fee with automatic payments.3

A HELOC with a low introductory rate can help you kickstart your projects and make your financial goals more achievable from the start.

A split photo between a room and the room under renovation.

10 Things You Can Do with a HELOC

A home equity line of credit (HELOC) is one of the most powerful tools in a homeowner’s toolkit. Unlike a loan, it’s there for you to draw from whenever you need to. And HELOCs often offer lower interest rates compared to credit cards and personal loans, making them more cost-effective for large expenses. From upgrading a bathroom or investing in energy-efficient appliances, to consolidating debt at a lower interest rate, a HELOC is a powerful financial resource that can help you achieve a wide range of goals. It can even be used as a safety net for unexpected expenses like medical bills or emergency home repairs.

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How Much Equity Do I Have?

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Using Home Equity for a Major Purchase

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Consolidating Debt with Home Equity

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Brian M. and Family Member Since 2009
Brian M. and Family MEMBER SINCE 2009

Bring a Dream Project to Life

Brian cleverly tapped into the equity in his home to make their family home's backyard into a paradise with a stunning pool. This thoughtful investment provided a private space for recreation and relaxation and a convenient way to stay cool during the hot summer months. Additionally, a well-maintained pool can increase their property's value and appeal, making it a smart long-term investment.

Frequently Asked Questions

The interest rate adjusts to a variable rate, which is based on what the Prime Rate is at that time, plus a margin. This means the rate will fluctuate, depending on market conditions. For example, if the Federal Reserve continues to cut rates, your rate could be lower.

After the promotional period, the rate will be the Prime Rate plus a margin. If market rates go up, your HELOC rate could increase. If they go down, your rate could decrease. Our disclosures will show historical index rate changes. Currently, the maximum APR for a SchoolsFirst FCU HELOC is 18%, which is set and reviewed by the NCUA. It's important to understand the terms and conditions of the HELOC, including the potential maximum rate and how often the rate can change, to manage your finances effectively.

No, you won't pay any application or processing fees or closing costs. There is a $50 annual maintenance fee that is waived with automatic payments from a SchoolsFirst FCU Share Savings or Checking account.

You won't be charged any interest or fees, and you'll make no payments. As a line of credit, you can borrow and repay as needed, up to your limit.

No, there is no prepayment or early termination penalty. You can make payments of any amount toward the principal at any time or pay off the balance in full whenever you choose.

Tips to Use Your Home's Equity

Tools and lumber on top of home improvement blueprints.

Remodeling Trends That Increase A Home's Value

When determining the projects to tackle or forego, keep in mind that some enhancements can increase your home’s value, while others may not.

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How to Protect Your Home From Wildfires

If you live in an area prone to wildfires, protecting your home and property is essential.

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Home Renovations: Transform Your Space and Your Life

Home renovations aren't just about updating your space — they’re an investment in your lifestyle and your property.

LEARN MORE
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Call us Monday through Friday, 8 a.m. – 7 p.m. or Saturday, 9 a.m. – 3 p.m.

(800) 462-8328, EXT. 8288
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Disclosures

APR = Annual Percentage Rate. All loans subject to approval.

The interest rates and APRs listed above are effective as of 03/12/2025 and are subject to change without notice. The pricing you may qualify for is based on factors including your credit rating and loan-to-value (LTV) of your property. A minimum credit qualifying score is required. Loan pricing that you may qualify for can be different based on your credit history, loan-to-value (LTV), occupancy, property type, loan amount, loan purpose and income/financial obligations. Rates and programs are subject to change without notice. Lending area: State of California.
 

Property insurance is required. Flood insurance required when applicable.

  1. The 4.99% APR promotional rate is not available for investment properties or second homes and cannot be applied to the Rate Advantage HELOC. Not all Members will qualify for 4.99% APR. Available for Standard HELOC applications submitted no later than 12/31/2025.
  2. Owner-occupied primary residences, from $10,000 to $500,000. Non-owner occupied properties, from $10,000 to $150,000.
  3. Annual Maintenance Fee for HELOCs: $50. Fee will be waived if payments are automatically transferred from a SchoolsFirst FCU Share Savings or Checking account.

NMLS Identifier: 405503