Home Equity Lines of Credit

Home Equity Line Of Credit For Primary Residences

LTV** Limit	Index (Prime Rate)	Margin	Maximum APR*	Current APR*
80%	7.75%	0.00%	15%	7.75%
90%	7.75%	1.25%	15%	Product Currently Unavailable
*APR = Annual Percentage Rate **LTV = Loan-to-value

Variable Rate based on Wall Street Journal Prime Rate. 80% loan to value, 20 year term, 5 year draw, 15 year payback. Rates above are good for owner-occupied residences.

Home Equity Line Of Credit For Non-Owner-Occupied Residences

LTV** Limit	Index (Prime Rate)	Margin	Maximum APR*	Current APR*
75%	7.75%	0.25%	15%	8.00%
*APR = Annual Percentage Rate **LTV = Loan-to-value

Variable Rate based on Wall Street Journal Prime Rate. 75% loan to value, 20 year term, 5 year draw, 15 year payback. Rates above are good for non-owner-occupied residences. Applicants will be responsible for paying all appraisal costs.

Get your home in shape with a Home Equity Line of Credit from SRI Federal Credit Union

ZERO points, ZERO annual fees, ZERO closing costs
and a low variable rate of prime.

• Borrow up to 80% of the combined loan-to-value (CLTV)
• Minimum limit $20,000
• Maximum limit $500,000
• Variable-rate changes monthly based on prime rate as published in the Wall Street Journal 10 days before month-end. Floor 3.25% APR for 80% LTV.
• Principal and interest payments amortized over 15 years, with a 5 year draw period and 20-year term
•  Easy access to funds as needed online or with checks
• If you are in the last year of the draw period, contact us for a free HELOC review.  You may qualify to have the draw period extended another five years!
• HELOCs closed within 24 months require repayment of all fees. These fees will be prorated.
• For Non-Owner Occupied HELOCs, applicants will be responsible for all appraisal costs.

How to apply

1. HELOC Application (PDF) - Print out, fill out, sign, and submit.
2. Required Document Check List (PDF) - Print out, and include with submission of HELOC application.
   
3. HELOC Occupancy Statement (PDF) - For owner-occupied properties print out, sign, and include with submission of HELOC application.
4. HELOC Loan Purpose Statement (PDF) - For non-owner occupied properties print out, sign, and include with submission of HELOC application.
5. HELOC Early Disclosure (PDF) - Review and keep for your own records.
6. Consumer Financial Protection Bureau: Find a Housing Counselor -Fill out and keep for your own records.
7. What you should know about Home Equity Lines of Credit (PDF) - Review and keep for your own records.
8. California Holden Act Fair Lending Notice (PDF) - Review and keep for your own records.
9. Email lending@srifcu.org to request a secured link for the upload of your completed HELOC application.

 

Consumer Access to the Nationwide Mortgage Licensing System & Registry (NMLS) The National Mortgage License Institution Number for SRI Federal Credit Union is: 466005 - This is only for reference.

If you would like to talk to a Loan Officer please call 650-859-5477.