Check out Tech CU’s Home Equity Line of Credit
Re-do your kitchen. Make sure your child’s college tuition is ready to go. Or, simply have access to cash on hand when you need it.
Whether you’re looking to make a change in your home, or simply gain some financial security, take a peek at our home equity loans. We offer loans starting as low as 3.99% APR with the option to finance up to 70%, 75% or 80% LTV.
Check out these benefits:
- Fast turnaround: We’re committed to getting papers ready to sign quickly. If you can’t get to our offices, we’ll bring them to you! And we typically have papers ready in 8 working days.
- Break free from the fee: If your current lender charges an early closure fee, we’ll pay it up to $500†.
- Convenient access: You’ll receive free convenience checks to access your line, and you can set up your equity line as an overdraft source for your Tech CU checking account.
For more information about our Home Equity Line of Credit, speak with a member service representative: (800) 553-0880.
| Home Equity Line of Credit |
| Term** |
Maximum LTV 2 |
Amount |
Variable |
| 25 years |
70% |
$500,000 |
4.000%3 |
| 25 years |
75% |
$250,000 |
4.750%4 |
| 25 years |
80% |
$150,000 |
5.750%5 |
Possible Rate Discount:
| Available Discount |
Rate discount available through Relationship Rewards |
| Discount amount: |
Up to 0.25% | |
Home Equity Lines of Credit features:
- No Cost Loans1—no application fees, no closing costs, and no annual fee
- Use only the funds you need—pay interest only on what you use
- Available as an overdraft protection source for any Tech CU checking account
- Access funds anytime through Online Banking, Call-24 Phone Banking, and convenience checks
- Available for owner-occupied properties in California of 1-4 units
- Interest-only payments for the first 10 years of the loan, then fully amortized to include principal and interest over the next 15 years
- For more information, see the Home Equity Line of Credit Disclosure
*Loans available for California 1–4-unit primary residences only. Rates as of 6/15/2010. Rates and terms are subject to change without notice. Additional terms and conditions may apply. Lifetime Minimum rate is 3.99% and Maximum Rate is 18%. A discount is available for Relationship Rewards. Minimum aggregate balance of loans and deposits with Tech CU of $25,000 or higher, the discount will be .125% and aggregate balance of $100,000 or higher, the discount is .25%. Relationship Reward discount will not apply if final rate is less than Lifetime Minimum rate of 3.99%.
**If you close your line within three years of the open date, you will pay $500 to partially reimburse costs we incurred to open the account.
†To qualify, borrower must pay off and close a home equity line with another lender and qualify for and open a Tech CU equity line of credit with a minimum $50,000 opening balance. This offer is not valid on existing Tech CU equity lines. Tech CU will pay up to $500 of any early payoff fee imposed by the other home equity line lender. Tech CU will not pay other fees or charges associated with closing the other equity line, such as reconveyance fees, escrow fees, principal or interest payments, or accrued late charges.
1No fees are required to establish the line, but if you pay off and close your Equity Line of Credit within three (3) years, a $500 early closure fee will apply.
2Maximum loan amount and loan to value (LTV) calculated as a percentage of appraisal minus the first mortgage. Actual LTV may be lower based on conditions and/or restrictions. Call (408) 451-9111 or (800) 553-0880 for details.
3Current Annual Percentage Rate (APR) determined by the Wall Street Journal Prime rate plus 0.75%.
4Current Annual Percentage Rate (APR) determined by the Wall Street Journal Prime rate plus 1.50%.
5Current Annual Percentage Rate (APR) determined by the Wall Street Journal Prime rate plus 2.50%.