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Home Equity Line of Credit

Your home's equity can help you do more. Use a Home Equity Line of Credit (HELOC) to purchase a second home, invest in real estate, or make improvements to your current home. 

 

A home equity line of credit is an open-ended, variable rate loan, secured by a deed of trust against your real property. La Loma offers this program on your primary residence or second home (no rental properties or manufactured homes). The amount of your credit line will depend on the amount of equity you have in your home.

 

It makes good financial sense to use your home as collateral since the interest on your home equity loan may be tax deductible (you should consult with a tax advisor for your particular situation). La Loma will only take position as first or second mortgage lien holder.

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Our HELOCs include

  • Credit limits up to $200,000

  • Borrow up to 80% of the available equity

  • No prepayment penalty

  • Payments can be made through online or mobile banking

  • Interest may be tax deductible. Please consult a tax professional.

  • No origination fee for HELOC limits of $75,000 or less*

  • Interest rate adjustments occur in February and August

  • Funds can be accessed by check, online banking, or at the nearest branch

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Complete the form below and we'll contact you shortly!**

Property Address

*No origination fee available for HELOC limits of $75,000 or less. Other closing costs or third-party fees may apply. Please contact La Loma Federal Credit Union for current HELOC closing cost information, eligibility requirements, and full program details.

**The form above is not a loan application.

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