Get a start on your project with a Mission Fed Home Equity Line of Credit (HELOC)*

HELOC San Diego rates as low as
5.99% Intro Fixed Annual Percentage Rate (APR)
For the first 12 months

After that, variable APR as low as 4.99%

Home Equity Line of Credit San Diego options

  • Use it for 10 years, with an additional 15 years to repay the loan
  • Fixed HELOC rate for the first 12 months; variable rate for the rest of the term
  • Borrow up to 100% of the equity in your home
  • Only pay interest on the money you use from your San Diego Credit Union HELOC

Check Rates

Speak with a Home Loan Representative

Get all your questions answered and see how easy it is to get started with the best HELOC in San Diego.

Call 800.500.6328

Why use a Mission Federal Credit Union HELOC?

Our Credit Union HELOC San Diego rates are lower than most lenders can offer with no origination fee or closing costs, saving you money over the life of your Home Equity Line of Credit. Mission Fed’s lower interest rate and favorable terms make it a great time to use your home’s equity. You can borrow up to 100 percent of the equity in your home, but you’ll only pay interest on the money you use with our regular HELOC. Alternatively, you can choose the Interest-Only HELOC, which allows you to pay only the interest for up to ten years before beginning repayment on the principal. Interested in getting competitive HELOC rates in San Diego? Stop by a Mission Fed branch today for our low HELOC rates in California so you can keep your payments within your budget.

Make your project easier with a Home Equity Line of Credit

You’ve invested a lot to build your home’s equity. Now let your home invest in you, with a San Diego Home Equity Line of Credit—also known as a HELOC—for your next major project or big purchase. With a HELOC, you use money when you need it, then pay whatever you’ve borrowed back with interest. A HELOC enables you to use more of your equity once you repay the amount you’ve borrowed. Mission Fed’s Home Equity Line of Credit gives you the flexibility to access funds for large expenses, now and in the future. With our competitive Credit Union HELOC rates, you can access funds on an as-needed basis up to a credit limit determined at closing, making it convenient and easy to get what you need, when you need it. If you want a low HELOC rate, Credit Union HELOC rates from Mission Fed can help.

HELOC rates

Mission Fed is proud to offer benefits such as lower interest rates and fewer fees on Home Equity Lines of Credit to help you keep your costs down. Our regular HELOC has a fixed rate for the first 12 months, then a variable rate for the rest of the term. You can use it for 10 years, with an additional 15 years to repay. Since you don’t receive your money in one lump sum, it is possible that your loan payment amount can increase if the interest rate increases. Nonetheless, with a Credit Union HELOC, you only pay for the money you need and use, so the variable HELOC rate is an option if you’re not entirely sure how much money you’ll need to use and when. And, if you make consistent on-time payments, your Home Equity Line of Credit will add to your credit history and can raise your credit score over time, meaning you’ll be eligible for even lower rates on loans in the future. Learn more about HELOC rates by contacting Mission Fed today.

How to apply

Mission Fed makes it easy for you to apply for a HELOC on your schedule. Choose from these easy options:

More benefits of a Mission Fed HELOC:

  • No points: Get a low rate with no additional fee.
  • Borrow up to 100% of the equity in your home.
  • Only pay interest on the money you use with our regular HELOC.
  • Interest-Only HELOC option, which allows you to pay only interest for a 10 years before starting to pay principal.
  • Access your HELOC with checks or a HELOC Platinum Card. Your HELOC Platinum Card can be used for online purchases or at the store, tap-to-pay when your card has the contactless symbol.
  • 24-hour access to your HELOC funds:
    • Online Banking and Mobile Banking
    • By phone with our automated phone service
    • With your Mission Fed Home Equity Card issued with your loan (use wherever Mastercard® is accepted)
    • Write your Mission Fed Equity checks issued with your loan
    • Visit any San Diego Mission Fed Branch during business hours

Please contact your Mission Fed Real Estate Loan Representative for more details about the specific benefits.

Frequently Asked Questions

What is a HELOC?

HELOC stands for Home Equity Line of Credit, which is a line of credit you can take out on the equity you’ve built in your home. Essentially, a HELOC is a second mortgage, allowing you to borrow against the value of equity you currently have in your primary residence.

How does a HELOC work?

With a home equity line of credit, you can borrow up to a certain amount, repay the money you owe and then repeat as needed, allowing you to borrow only as much as you need, as you need it.

How to get a HELOC with Mission Fed

You can apply for a HELOC loan in the same way that you apply for a mortgage loan. Your approval is based on your credit score, credit history, the amount of equity you currently have in your home and your debt-to-income ratio (also called your DTI). At Mission Fed, you can apply for our Credit Union HELOC online, over the phone or in person with one of our knowledgeable representatives. Mission Fed offers low HELOC rates in California.

How much equity do I need for a HELOC?

Most lenders require that you have at least 15 to 20 percent of your home’s appraised value in equity before approving a home equity line of credit. However, that percentage can vary depending on your credit history, credit score and debt-to-income ratio. If you want to get a HELOC, make sure you maintain positive credit habits.

How to calculate a HELOC payment

Calculating a HELOC payment ahead of time can be tricky because, in most cases, your interest rate will be variable after a set period of time with a fixed rate. In order to calculate your home equity line of credit payment, you’ll need to understand your HELOC rates, when the rate becomes variable and whether you will have an opportunity to only pay your interest payments during a certain period of time. You should also know how long the life of your line of credit will be, as well as the ceiling (the maximum interest rate you can be charged) and the floor (the lowest your HELOC rates will ever go). Though you can’t anticipate exactly what will happen with the market, and therefore your HELOC rates, you can approximate what your highest and lowest monthly payment will be over the life of your loan.

How much can I borrow on a HELOC?

The maximum loan amount you’ll be allowed to borrow on your home equity line of credit depends on your credit score, credit history and debt-to-income ratio. Your financial institution wants assurance that you will pay them back in a timely manner. From there, the amount you’re able to borrow is dependent on the amount of equity you have in your home as well as the value at which your home was appraised. This is called your combined loan-to-value ratio. Depending your credit history, your debt-to-income ratio and your combined loan-to-value ratio, you may be able to borrow the maximum rate up to 100 percent of the value of your home.

We hope this helps! Get even more questions answered by reviewing our Home Equity Guide to get more complete information and to understand the difference between a credit union Home Equity Loan and a Home Equity Line of Credit. Talk to us today about a HELOC from Mission Fed Credit Union.

Learn More

A Home Equity Line of Credit from Mission Fed financing services is based on accumulated home equity and provides a variable-rate revolving line of credit that may be borrowed from again as you repay your outstanding balance. Many members will make the most of low HELOC rates to remodel their home, purchase a new car, pay medical bills, cover travel costs and more. If you have multiple financial needs, or need access to funds to pay for expected expenses, contact a Real Estate Loan Representative for Home Loan information and to learn about our Home Equity Line of Credit requirements. Stop by a Mission Fed Branch, call 800.500.6328 x2039 or apply online now and let your San Diego home start investing in you with a HELOC from Mission Fed. We look forward to helping you! Your success is our bottom line.

HELOC Card Agreement

Equal Housing Opportunity.

*All accounts and loans are subject to approval. Introductory Fixed APR as low as 5.99% for the first 12 months. After that, the APR will vary based on The Wall Street Journal Prime Rate plus a margin and as of 5/16/22 the lowest APR would be 4.99% for loan-to-value less than 70%, excellent credit history, auto-pay from Mission Fed, and an initial draw of $25,000 or 35% of your credit line, whichever is lower. Rates and terms vary based on creditworthiness; maximum APR is 18.00%. Property must be owner-occupied. Property insurance required. If you close your HELOC within three (3) years from the date opened, you must repay any third-party fees that were paid on your behalf. Other terms and conditions apply. Programs, rates, terms, conditions are subject to change without notice.


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