Best HELOC Rates California Home Equity Line of Credit Rates
Looking for current Heloc Rates? ERATE.com provides an extensive list of Heloc Rates from banks, credit unions and mortgage lenders in CA. We list top offers from numerous lenders for you. Over 35 lenders on Calif chart. Rates are updated daily. Additionally you can see the best Heloc rates even quicker each day via our Mortgage Rates iPhone App
Home Equity Lenders
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APR
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Rate
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Initial Draw
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Contact details |
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Last Updated: 10/03/2023
| Cash-Out and Home Equity Options Available. | View Details
Conditions: Cash-Out and Home Equity Options Available.
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Last Updated: 10/03/2023
| HELOC approval in 5 minutes, funding in 5 days. Borrow up to $400k online. | View Details
Conditions: The Figure Home Equity Line is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
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Last Updated: 10/03/2023
| "Unlock Your Home's Potential" | View Details
Conditions: Please note that the interest rates offered are subject to change based on market conditions and borrower eligibility. The pricing and rate provided are accurate as of the specified date. It is important to be aware that the minimum loan amount for any loan program is $50,000. The specific amount and terms of the credit offer will be determined based on underwriting approval and guidelines, which include factors such as your credit history, your ability to make payments, and the available equity in your home. To qualify for this offer, you must meet the required criteria and demonstrate creditworthiness. Additionally, providing up to two years of income verification may be necessary. The severity of your credit may also impact the required down payment. It is crucial to understand that the lender reserves the right to cancel this offer if the provided information cannot be verified. Please note that all bankruptcies must be discharged in order to be eligible. This offer is nontransferable and is specifically available for single-family residences or owner-occupied condominiums. Please be aware that mobile homes and cooperatives are not included in this offer. It is important to note that the lender must hold a valid first lien position, and property hazard insurance is a requirement. These are some key details to consider when evaluating this offer. It is essential to thoroughly review the terms and conditions and seek clarification from the lender regarding any specific questions or concerns you may have before proceeding with the application process.
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Pacific Service CULast Updated: 10/02/2023
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8.750% APR | 8.750% Rate | $0 Min. Initial Draw Amount | |
California Credit UnionLast Updated: 10/02/2023
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5.990%
Intro APR
9.750% After Intro PeriodIntro Period: 12 months |
9.750% Rate | $0 Min. Initial Draw Amount | |
Los Angeles Federal Credit UnionLast Updated: 10/02/2023
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4.990%
Intro APR
9.240% After Intro PeriodIntro Period: 6 months |
9.240% Rate | $0 Min. Initial Draw Amount | |
USC Credit UnionLast Updated: 10/02/2023
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8.650% APR | 8.650% Rate | $10,000 Min. Initial Draw Amount | |
Tri Counties BankLast Updated: 10/02/2023
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10.750% APR | 10.750% Rate | $0 Min. Initial Draw Amount | |
First BankLast Updated: 10/02/2023
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6.000%
Intro APR
9.000% After Intro PeriodIntro Period: 6 months |
9.000% Rate | $0 Min. Initial Draw Amount | |
HSBCLast Updated: 10/02/2023
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6.990%
Intro APR
9.650% After Intro PeriodIntro Period: 12 months |
9.650% Rate | $25,000 Min. Initial Draw Amount | |
Alaska USA Federal Credit UnionLast Updated: 10/02/2023
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10.000% APR | 10.000% Rate | $0 Min. Initial Draw Amount | |
First Tech FCULast Updated: 10/02/2023
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8.750% APR | 8.750% Rate | $0 Min. Initial Draw Amount | |
City National BankLast Updated: 10/02/2023
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10.550% APR | 10.550% Rate | $0 Min. Initial Draw Amount | |
Corporate America Family CULast Updated: 10/02/2023
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8.750% APR | 8.750% Rate | $0 Min. Initial Draw Amount | |
Navy FCULast Updated: 10/02/2023
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11.000% APR | 11.000% Rate | $0 Min. Initial Draw Amount | |
Washington Trust BankLast Updated: 10/02/2023
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9.000% APR | 9.000% Rate | $0 Min. Initial Draw Amount | |
Firefighters First Credit UnionLast Updated: 10/02/2023
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9.250% APR | 9.250% Rate | $0 Min. Initial Draw Amount | |
Police Credit Union of CaliforniaLast Updated: 10/02/2023
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10.000% APR | 10.000% Rate | $0 Min. Initial Draw Amount | |
Exchange BankLast Updated: 10/02/2023
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11.250% APR | 11.250% Rate | $0 Min. Initial Draw Amount | |
Arrowhead CULast Updated: 10/02/2023
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9.250% APR | 9.250% Rate | $0 Min. Initial Draw Amount | |
Financial Partners CULast Updated: 10/02/2023
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5.990%
Intro APR
8.750% After Intro PeriodIntro Period: 12 months |
8.750% Rate | $0 Min. Initial Draw Amount | |
SchoolsFirst FCULast Updated: 10/02/2023
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8.500%
Intro APR
8.250% After Intro PeriodIntro Period: 60 months |
8.250% Rate | $25,000 Min. Initial Draw Amount | |
Patelco CULast Updated: 10/02/2023
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8.750% APR | 8.750% Rate | $0 Min. Initial Draw Amount | |
Los Angeles Police Federal Credit UnionLast Updated: 10/02/2023
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8.750% APR | 8.750% Rate | $5,000 Min. Initial Draw Amount | |
San Francisco FCULast Updated: 10/02/2023
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8.750% APR | 8.750% Rate | $10,000 Min. Initial Draw Amount | |
Bank of AmericaLast Updated: 10/02/2023
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7.990%
Intro APR
10.780% After Intro PeriodIntro Period: 6 months |
10.780% Rate | $50,000 Min. Initial Draw Amount | |
Safe CULast Updated: 10/02/2023
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10.740% APR | 10.740% Rate | $0 Min. Initial Draw Amount | |
NuVision FCULast Updated: 10/02/2023
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9.000% APR | 9.000% Rate | $0 Min. Initial Draw Amount | |
Golden 1 CULast Updated: 10/02/2023
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11.500% APR | 11.500% Rate | $0 Min. Initial Draw Amount | |
San Diego County CULast Updated: 10/02/2023
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9.750% APR | 9.750% Rate | $0 Min. Initial Draw Amount | |
Comerica BankLast Updated: 10/02/2023
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5.990%
Intro APR
10.500% After Intro PeriodIntro Period: 6 months |
10.500% Rate | $0 Min. Initial Draw Amount | |
Stanford FCULast Updated: 10/02/2023
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7.750% APR | 7.750% Rate | $0 Min. Initial Draw Amount | |
California Bank & TrustLast Updated: 10/02/2023
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9.925% APR | 9.925% Rate | $0 Min. Initial Draw Amount | |
Umpqua BankLast Updated: 10/02/2023
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10.500% APR | 10.500% Rate | $0 Min. Initial Draw Amount | |
First Financial CULast Updated: 10/02/2023
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5.990%
Intro APR
9.750% After Intro PeriodIntro Period: 12 months |
9.750% Rate | $0 Min. Initial Draw Amount |
Disclaimer:
Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.
Home Equity Line of Credit - Rates are based on a variable rate, second lien revolving home equity line of credit for an owner occupied residence with an 80% loan-to-value ratio for line amounts of $50,000 or $50,000+. Discount indicates the amount of reduction in the Rate for having monthly payments automatically deducted from an account and/or for having other relationship accounts with the institution, expressed as a percentage. Rates shown may be subject to regional pricing. Conditions 'No closing costs' indicates that customer is not required to pay closing costs on the line of credit. 'With closing costs' indicates that customer is required to pay closing costs on the line of credit. Rates displayed may include discounts. Rates are subject to change without notice.
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Use the articles at bottom of page to find your best solution on equity financing
If on a desktop you can click the Rate column to sort for the best rates. On far left you can switch to a Home Equity Loan for a fixed rate.
A Home Equity Line of Credit (HELOC) is a type of loan that allows homeowners to borrow money against the equity they've built up in their homes. Here's a breakdown of how it works:
Establishing Equity: Equity refers to the value of your home that exceeds any outstanding mortgage balances. For instance, if your home is valued at $400,000 and your mortgage balance is $200,000, you have $200,000 in equity.
Credit Line: Once you have equity in your home, you can apply for a HELOC through a lender. If approved, the lender will set a maximum credit line based on a percentage of your home’s appraised value, subtracting the balance owed on the existing mortgage. The percentage is often around 85%, but can vary by lender, your credit score, and other factors.
Draw Period: A HELOC has a draw period, typically 5 to 10 years, where you can borrow against your line of credit. During this period, you'll often make interest-only payments on the money you've borrowed. You can use as much or as little of the credit line as you like, similar to a credit card.
Repayment Period: After the draw period ends, the repayment period begins. This is often 10 to 20 years, during which you can no longer draw on the credit line and must pay back any outstanding balance plus interest. This period usually involves fixed payments that include both the principal and the interest.
Interest Rates: Interest rates for a HELOC are typically variable, meaning they can fluctuate over time. These rates are often based on a publicly available index (like the U.S. prime rate) plus the lender’s margin.
Uses of HELOC: The borrowed funds can be used for many purposes such as home improvements, education costs, debt consolidation, or other major expenses. But it's crucial to remember that failure to repay the loan can result in the loss of your home, since it serves as the collateral for the loan.
In summary, a HELOC is a flexible, reusable line of credit that can be a valuable tool for homeowners who have accumulated a significant amount of equity in their homes and who can responsibly manage the loan.
Choose your city below to view local home equity lenders in your area: