Home Equity Line of Credit

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

HELOC rates as low as
2.99% Intro APR Fixed
For the first 12 months

After that, your APR would be as low as 4.75%

Home Equity Line of Credit options

  • Use it for 10 years, with an additional 15 years to repay
  • 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 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.

Call 800.500.6328
or

Why use a Mission Federal Credit Union HELOC?

Our Credit Union HELOC rates are lower than most lenders can offer with no additional fees, saving you money over the life of your Home Equity Line of Credit. Mission Fed’s lower interest rates 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. Alternately, 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. Stop by a Mission Fed branch today, and our loan representatives will work to get you a low

HELOC rate

so you can keep your payments within your budget.

Make your project easier with a Home Equity Line of Credit (HELOC)

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. A Home Equity Line of Credit works a lot like a credit card—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 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.

HELOC rates

Mission Fed is proud to offer 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 payment amount can increase if the interest rate increases. Nonetheless, with a HELOC, you only pay for the money you need and use, so the variable HELOC rate is a smart way to go 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.

How to apply for a Home Equity Line of Credit

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 either checks or a HELOC Platinum Card.
  • 24-hour access to your HELOC funds:
    • Online with 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 you can enjoy with your Home Equity Line of Credit.

Learn More

A Home Equity Line of Credit from Mission Fed 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 logo

We want you to get started on your project, so we made the fine print as simple as possible. APR=Annual Percentage Rate. Intro APR as low as 2.99%. After that the APR will vary, and as of 9/27/2018 would be 4.75% for under 70% LTV, auto-pay from Mission Fed, and an initial draw of $25,000 or 35% of your credit line, whichever is lower. Rates and terms may vary based on creditworthiness; maximum APR is 18.00%. If you close your HELOC within three (3) years from the date opened, you must repay $500 of lender paid fees and costs. All accounts and loans are subject to approval. Programs, rates, terms, conditions are subject to change without notice. 9/18

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