Unlock the power of your home’s equity with a home equity loan or line of credit from Edwards FCU. Whether you’re planning home improvements, covering education costs, or consolidating debt, we offer flexible options to fit your needs. Our team is here to guide you every step of the way, ensuring you make the most of your home’s value.
Home Equity Line of Credit (HELOC)
Flexible Funding. Only When You Need It.
A HELOC provides ongoing access to a revolving credit line—perfect for home improvements, unexpected expenses, or big plans that unfold over time.
- Access funds as needed during a 10-year draw period
- Make interest-only payments during the draw period
- Borrow up to 90% of your home’s value, based on credit profile
- Variable interest rates based on the Wall Street Journal Prime Rate
- Repay over 15 years after the draw period ends
- No prepayment penalties
- Property insurance required
Home Equity Loan
Fixed Loan. Fixed Rate. Full Confidence.
If you’re looking for a structured loan with fixed terms and predictable payments, this option gives you:
- Fixed repayment terms: 5, 10, or 15 years
- Fixed interest rate for the life of the loan
- Set monthly principal and interest payments
- Financing available up to 90% CLTV, based on credit
- Property insurance required
Ready to Tap into Your Home’s Equity?
Let’s make your equity work for you. Our team is here to help you choose the right option based on your goals.
Or call us at 877-256-3300
Edwards Federal Credit Union offers two home equity financing options: a Closed-End Home Equity Loan and an Open-End Home Equity Line of Credit (HELOC). Both products allow qualified borrowers to access up to 90% combined loan-to-value (CLTV), subject to credit approval and other underwriting criteria. Property insurance is required for all equity loans and lines of credit, and flood insurance may be required depending on the property location. Loans are available on properties located in California only.
The Closed-End Home Equity Loan features a fixed interest rate and fixed monthly payments for the life of the loan. Loan terms are available in 60, 120, or 180 months. Borrowers are responsible for all fees associated with the loan. Sample payments based on a $25,000 loan are as follows: $491.97/month at 6.24% APR for 60 months, $296.62/month at 7.49% APR for 120 months, and $242.39/month at 8.24% APR for 180 months. Your actual rate and payment may vary depending on your credit profile, CLTV, and other underwriting factors.
The HELOC is a variable-rate product with a 10-year draw period followed by a 15-year repayment period. During the draw period, payments are interest-only. Once the repayment period begins, monthly payments will consist of 1/180th of the outstanding principal, plus accrued interest, and any applicable fees. The APR is variable, based on the Wall Street Journal Prime Rate, and may adjust monthly without a cap on annual changes. The margin applied to the Prime Rate is based on the applicant’s credit score and CLTV.
Minimum loan or credit line amount is $25,000, with a maximum of $300,000, depending on credit and other underwriting criteria. APR means Annual Percentage Rate. All rates and terms are subject to change without notice. Final terms will be determined based on the applicant’s creditworthiness, market conditions, and loan characteristics at the time of closing. Not all applicants will qualify for the lowest rates or highest CLTV.
Federally insured by NCUA. Equal Housing Lender.