Home Equity Loans & Lines of Credit Rates
Competitive rates mean you’ll have more money to put toward big projects and major purchases.
We want to leave you more money to work with
Whether you're adding rooms to your home, taking a well-earned vacation, or making a major purchase, the bigger your budget, the better off you are. By keeping our rates low on home equity loans and lines of credit, LAPFCU minimizes interest charges to put more cash in your hands.Home equity loans and lines of credit include complimentary End of Watch Debt Protection.1
HOME EQUITY LOANS
| FIXED RATE APR* | |
|---|---|
| Fixed Rate Equity Loan | Up to 80% Loan to Value% |
| Up to 84 months | 7.25% |
| 85 – 120 months | 7.50% |
| 121 – 180 months | 7.62% |
| 181 – 240 months | 8.00% |
EFFECTIVE RATE DATE: March 15, 2024
*
APR = Annual Percentage Rate. 7.250% fixed APR is based on a loan term of up to 84 months. Minimum loan amount $25,000. Maximum loan-to-value is 80% for owner occupied properties, and 70% for non-owner occupied properties. Maximum term on owner occupied properties is 20 years, and 15 years on non-owner occupied properties. Loans available on 1-4 family dwellings. Property hazard insurance is required. Home Equity Loans are available for properties located in California, Arizona, Colorado, Idaho, Montana, Nevada, Oregon and Utah. 7-year rate term payment example (effective date July 27, 2023): $35,000 loan with 7.250% fixed APR for 84 months would cost $15.22 per $1,000 borrowed. All loans are subject to credit approval and applicable LAPFCU policies. $500.00 fee for early termination if closed prior to two (2) years. All advertised rates and terms are subject to change without notice. Your actual payment may vary. Restrictions apply, ask for complete details.
HOME EQUITY LINE OF CREDIT
| Variable APR** | Home Equity Line of Credit (HELOC) |
|---|---|
| 5.99% 12-month introductory APR, followed by 9.25% variable APR** | Up to 80% Loan to Value |
| Minimum Line $25,000 |
**
APR = Annual Percentage Rate. 5.99% introductory APR will continue for twelve (12) months. After the introductory APR, a 9.25% variable APR (effective rate date of March 15, 2024) for Home Equity Lines of Credit. Minimum loan amount of $25,000 and a minimum draw of $5,000 at funding. Variable rates may increase or decrease daily during the term of the agreement and are tied to the (WSJ) Prime Rate + 0.75% margin. Minimum APR of 2.90% and a maximum APR cap of 18%. Property hazard insurance is required. Closing costs are waived for loan amounts of $250,000 or less. For loan amounts greater than $250,000, the estimated closing costs can range from $2,000 to $3,000 depending on the loan amount. For 1-unit SFR and PUD, up to 80% combined loan to value for owner occupied or second home properties located in California only. For condos, up to 75% combined loan to value for owner occupied or second home properties located in California only. All loans are subject to creditworthiness. $500.00 fee for early termination if closed prior to two (2) years. The HELOC term is 25 years (10-year draw period of interest only payments followed by a 15-year repay period of principal and interest payments). All rates and terms are subject to change without notice. Other restrictions may apply, ask for details.
LAPFCU is a full-service credit union for sworn, civilian, and professional employees of police and sheriff's departments and their family members in Los Angeles, Orange, Riverside, San Bernardino and Ventura counties.