Home Equity Line of Credit
A Home Equity Line of Credit (also known as a HELOC) may be right for you if you have a recurring expense such as college tuition or are making home improvements.
Borrow up to 70% of the appraised value of your home up to $250,000 for owner-occupied property
- Flexible open-end loan with a variable rate
- 10-year draw period and a 25-year repayment period
- Interest is paid only on the money you use
- Interest may be tax deductible, so check with a tax advisor
- Access funds anytime by:
- Transferring funds to your checking or another North County CU account through Internet Teller or Mobile, Telephone & Text Banking
- Writing a Home Equity Line check
- By calling our Members Services to transfer funds
- By visiting our branch
- Property must be located in California
- Eligible properties include one to two family homes, condominiums, and double-wide manufactured homes on a permanent foundation
- Property insurance required on all properties being used as collateral
- Flood insurance may be required
Easy ways to make loan payments
- Payroll Deduction
- Internet Teller payments & transfers
- Online Bill Pay
- Mobile, Telephone & Text Banking
- Transfer by phone through Member Services
- Mail a check or pay at a branch
- Pay by e-check transfer from another financial institution
NMLS #756614
1Check with your tax advisor.
