Please read each of the required disclosures below before you proceed to apply for your Home Equity Line of Credit loan.
Home Equity Early Disclosure (PDF)
What You Should Know (PDF)
*APR = Annual Percentage Rate. To be eligible for the 1.99% fixed introductory APR, you must not have had a Wescom HELOC or Home Equity Loan within the last six months. The fixed introductory rate is only available for primary residences and maximum Combined Loan to Value of 80%. The rate or margin you qualify for is based on various factors including your credit rating and the combined loan-to-value (CLTV) of your property. To receive the APR discount for automatic payments you must enroll in the automatic payment program at the time of funding. Terms and conditions apply — please ask your HELOC representative for details. . Rates subject to change without notice.
**Based on combined balances of all mortgages and current value of the subject property. Wescom makes Home Equity Lines of Credit on primary residence in California only.
***Signature Membership terms and conditions apply
†Wescom will cover most closing costs associated with a HELOC which may include: credit report, title insurance, flood certification, settlement/closing, recording, property search. If a full appraisal is requested by the member to validate the property value obtained, the cost will be paid by the member. If the line of credit is paid off and the loan is closed during the first thirty-six (36) months following the date of the Note, a $695 processing fee will be due to the Credit Union upon payoff and closure of the loan.
Certain fees, conditions and restrictions may apply. Home Equity Lines of Credit are secured by your home. If you’re paying off an existing real estate loan, the Credit Union does not cover costs imposed by other lenders, if any. Rates and terms subject to change without notice. Loan approval subject to credit evaluation. The Home Equity Line of Credit is a variable rate loan. The Rate and APR will increase or decrease monthly based on a comparison of the loan’s Rate to the Prime Rate index plus the margin, if any.
The maximum Rate and APR over the life of the loan is 17.90%. The minimum Rate and APR over the life of the loan is 3.00%. Monthly payments will decrease or increase corresponding to changes to the Rate. The HELOC is a 30-year loan term. The first 10 years is the draw period in which interest only payments are allowed, followed by a 20 year repayment period at fully amortized principal and interest payments. $75 annual fee on our Equity Line is waived the first year and for Platinum Signature Members. An Equity Line of Credit is secured by your Primary Residence.
Call for more details.
Wescom Credit Union NMLS ID 999430