Unlock the Possibilities with Home Equity
At PremierOne Credit Union, we offer flexible home equity loan solutions tailored to your goals. Our personalized service, competitive rates, and convenient online application process make home financing easy and stress-free.
Check out our Home Equity Options
- Home Equity Loan
- Home Equity Line of Credit
- Go Green Secure Equity Loan
- Accessory Dwelling Units (ADU) Loan
- Go Green Enhancement Loan
- Mortgage Referral Program
Home Equity Loan
A Home Equity loan1, also known as a Second Mortgage, provides a one-time loan amount at a fixed rate over a set repayment period. Equity loans are perfect for one-time expenses such as; home improvements, debt consolidation, emergency and wedding expenses. Program features:
- Up to 90% Combined Loan to Value (depending on loan amount); 1 to 4-unit primary residence and investment property in California only
- Up to 100% Combined Loan to Value (depending on loan amount); 1 to 2-unit primary residence in California only
- No points* and No early closure fee, after the first 36 months
- Subject to credit approval
Home Equity Line of Credit (HELOC)
A HELOC is a revolving credit line with a low, variable percentage rate. You may only pay interest on what you actually use, so you have financial flexibility to handle whatever comes next. Program features:
- Up to 90% Combined Loan to Value2 (depending on loan amount); 1 to 4-unit primary residence and investment property in California only
- Up to 100% Combined Loan to Value3 (depending on loan amount); 1 to 2-unit primary residence in California only
- No appraisal fee, No annual fee and No early closure fee, after the first 36 months for limits up to and including $250,000
- Insurance on property required
- Subject to credit approval; 1 to 4-unit primary residence and investment property in California only
- Interest may be tax deductible
Go Green Secured Equity Loan
If you are interested in making a few green home renovations, we can help! Use this low-rate Go Green Equity Loan4 to help with the purchase of:
- Solar panels or photovoltaics
- Solar-powered water heaters
- Wind turbines
- Fuel cells
- Certified insulation products
- Other green products will be considered on a case-by-case basis
- Up to $500,000
- A document showing the "green" installation is required
Accessory Dwelling Unit (ADU) Line of Credit
Get more from your home with an ADU HELOC5. Whether you want extra space for guests, a separate home office, rental opportunities, or just a place to slip away for some quiet time, an ADU is a great option. Program features:
- 22-year variable rate line of credit with interest-only payments in the first two years
- No prepayment penalties
- Fast Approval & Funding with approved plans and permits
- Up to 90% Combined Loan to Value available based on the, as completed value
- Limits available up to $500,000
Go Green Enhancement Loan6
- Unsecured Loan based Green renovation option
- Maximum loan of $50,000
- Terms of 5, 6, 7 & 10 years
- A document showing the "green" installation is required
Additional Resources
- What are the Different Types of Mortgages?
- Myths About Renting vs. Buying a Home
- How Can I Prepare to Buy a Home in the Future?
- 5 Reasons to Consider Investing in Property
Some restrictions may apply. All loans are subject to credit approval.
*In the event the credit union elects to waive any bona-fide third party fees, the Borrower agrees that they will not prepay their loan within three years of the closing date. If the loan is paid off prior to the three-year period, the Borrower will reimburse the credit union for the bona-fide third party fees. CLTV over 80.000% requires the Borrower to pay for the bona-fide third party fees.
1. Home Equity Loan: No Closing Costs and No Points. EXCEPT: 1. Appraisal Fee: only if an electronic version is not available (usually if property is new or rural, etc.) and/or if loan amount requested is above $400,000 2. Title Update Fee: only if title/vesting changes are required after the policy is ordered. 3. Reconveyance Fee: only if an existing PremierOne Credit Union Mortgage Loan or HELOC is being paid off/closed. If the CLTV is over 80.000%, the borrower agrees to pay for the bona-fide fees. Refer to the closing disclosure provided prior to loan closing for an itemization of fees paid by the borrower. The CLTV allowed for loan amounts is based on your individual credit profile, and other policy restrictions.
2. HELOC: This loan has a variable rate. The annual percentage rate can change on the first day of each month. Minimum lifetime APR is 4.50%. Maximum lifetime APR is 18.00%. The APR is based on an index. The index is the WSJ Prime rate. Actual rate determined by applicant's individual credit profile. The minimum credit advance that you can receive is $5,000 for the first advance and $300 for each subsequent advance. We will charge your account $20.00 if you request an advance for less than the minimum advance amount permitted under this agreement. If your approved credit limit is $250,000 or below and you do not receive an initial discounted rate, the credit union may pay the third party fees on your behalf. These fees generally total $0 - $1,000.00. If we pay bona fide third party fees on your behalf as listed in the “Schedule of Closing costs” on the addendum at closing, and you pay off your line of credit within 3 years from the opening date, you agree to reimburse the credit union for the bona fide third party fees paid on your behalf, as permitted by applicable law. If your approved credit limit is over $250,000, you must pay certain fees to third parties to open the plan. These fees generally total between $800 - $2,500.00. If you receive an initial discounted rate, you must pay certain fees to third parties to open the plan. These fees generally total between $0 - $1,000.00. If you ask, we will provide you with an itemization of the fees you will have to pay to third parties. If the initial rate is discounted, it will not be based on the index and margin used for later rate adjustments. Recently offered initial discounted rates have been in effect for 12 months. Ask us for the current index value, margin, discount and annual percentage rate. After you open a plan, rate information will be provided on periodic statements that we send you. Lines must be secured by first or second deed of trust on your personal 1-4 unit residence in California. Loan Purpose for 90.01% up to 100% Combined Loan To Value (CLTV) allowed for any purpose except Purchase Money Seconds. All loans are subject to credit approval. Some restrictions apply. Please consult a tax advisor regarding the deductibility of interest.
3. APR = Annual Percentage Rate. Full appraisal may be required. Maximum combined-loan-to-value ratio up to 100% or maximum loan amount of $250,000, whichever is lower. Qualifying fico score must be 660 or higher. Subject property must be primary residence located in California. Eligible property types are single-family home, townhouse, and condominium (if warrantable). Borrowers must pay certain fees to third parties to open the plan. These fees generally total between $800 - $2,500. Must meet eligibility criteria. This loan is not available for Second/Vacation homes or investment properties. Purchase transactions are not allowed. Maximum of two borrowers are allowed to qualify for the loan; both must be on title and occupy the property. This is a limited time offer and may be changed or terminated without prior notice.
4. Restrictions may apply. All loans are subject to credit approval. Actual rate offered is determined by the loan term requested and by the applicant's individual credit profile. $25,000 minimum loan amount. Up to 80% of appraised Value, less first mortgage balance. California owner-occupied property only. Proof of “Green” Purchase required. Loan-to-value restrictions apply. Programs, rates, terms, and conditions are subject to change without notice.
5. ADU HELOC: This loan has a variable rate. The annual percentage rate can change on the first day of each month. Minimum lifetime APR is 5.50%. Maximum lifetime APR is 18.00%. The APR is based on an index. The index is the WSJ Prime rate. Actual rate determined by applicant's individual credit profile. The minimum credit advance that you can receive is $5,000 for the first advance and $300 for each subsequent advance. We will charge your account $20.00 if you request an advance for less than the minimum advance amount permitted under this agreement. In order to open, use and maintain a line of credit plan, you must pay the following fees to us: Application Fee: $500.00 (Due at application), Loan Processing Fee: $195.00 (Due at closing), Check Printing Charge: $15.00 (Due when checks are ordered). You must pay certain fees to third parties to open the plan. These fees generally total between $0.00 and $1,999.00. If you ask, we will provide you with an itemization of the fees you will have to pay third parties. All loans are subject to credit approval. Some restrictions apply. Rates, terms, conditions, and availability are subject to change or withdrawal at any time and without notice. Please consult a tax advisor regarding the deductibility of interest.
6. Loan proceeds must be used for eligible energy-efficient or environmentally beneficial home improvements as determined by PremierOne Credit Union. Documentation verifying the improvement may be required prior to funding.