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Home Equity Loans and Lines of Credit

Get Ready For The Holidays… On The House!

We are waiving the $300 HELOC origination fee* or discounting $300 off the processing fees on Home Equity Loans** up to $250,000, until December 31, 2022.***  

 

Putting Your Home to Work

A Home Equity Loan (also known as Second Mortgage) is a great option for you to borrow against the equity in your home to cover a major expense. 1 The consistency and predictability of a fixed rate and fixed monthly payment for the life of your loan make this a great option.

We can also pair a first mortgage loan with a home equity loan to get first-time buyers into a new home with no down payment or Private Mortgage Insurance (PMI) requirements.

We offer:

  • Financing from $45,000 to $500,0002
  • Terms up to 25 years for purchase money fixed equity loans only
  • Competitive, fixed rates

Apply for a Home Equity Loan via Digital Banking

Not registered for Digital Banking? Click here to apply.

 

First-time home buyers can pair a first mortgage loan with our second mortgage loans to get you into a new home. Choose the piggyback loan program that works for you:

 

80/20
 

  • 80% First Mortgage
  • 20% Second Mortgage
  • 0% Down Payment

 

80/15/5
 

  • 80% First Mortgage
  • 15% Second Mortgage
  • 5% Down Payment

 

 

80/10/10
 

  • 80% First Mortgage
  • 10% Second Mortgage
  • 10% Down Payment

 

Apply for a Purchase Money Fixed Equity Loan

  • Home Equity Line of Credit (HELOC) is another possible source of funds for big-ticket expenses.Whether you want to remodel your home, pay tuition, take a well-deserved vacation, or provide a “back-up” plan during hiatus, we want to help! A few features of our HELOC include:

    • Financing from $25,000 to $250,0003
      • No Annual Fee
      • Low-cost, one-time origination fee of $300 for loan amounts of $25,000 to $250,000
      • Low-cost, one-time origination fee of $600 for loan amounts of $250,001 to $500,000
    • Competitive rates based on creditworthiness, property condition, and risk factors4
    • Immediate access to your funds via Digital Banking or HELOC checks
    • Investment property financing is also available5
    • Maximum Years to Repay: 10 year draw/15 year repayment
  • If you have questions, or would like additional information, give our Real Estate Loan Team a call at 888.800.3328.
  •  
  • Apply for a Home Equity Line of Credit via Digital Banking

    Not registered for Digital Banking? Click here to apply.

A Guide for First-Time Homebuyers 

Buying your first home is exciting, and we'll be here for you during your home-buying journey. You’ll have a lot of decisions to make and even more questions, so we developed the First-Time Homebuyers Resource Center – to help you focus on what’s most important and keep you on track. Of course, if you have any questions, our Mortgage Loan Officers are here to help! 

Download the guide now!


    1All loans are subject to credit, income, and collateral approval. Not all members will qualify. Eligible home loans only for California properties. Consult your tax advisor regarding deductibility of interest.

    2 First Entertainment offers Home Equity Loans on owner-occupied single-family primary residences for loan amounts from $45,000 - $500,000. Loan amount is $250,000 if over 80% combined loan-to-value (CLTV). The maximum CLTV for Home Equity Loans on a non-owner-occupied property is 60% with loan amounts from $45,000 - $250,000. Purchase Money Fixed Equity Loans have a maximum loan amount of $250,000.

    The maximum CLTV for Home Equity Loans on a non-owner-occupied property is 60% with loan amounts from $45,000 - $250,000.

    3 First Entertainment offers HELOCs on owner-occupied single-family primary residences for loan amounts from $25,000- $500,000 up to 80% of your combined loan to value (CLTV) and for loan amounts from $25,000 to $250,000 up to 90% CLTV.

    The Maximum CLTV for HELOCs on a non-owner-occupied property is 60% with loan amounts from $25,000 to $250,000.

    The First Entertainment HELOC is an adjustable-rate loan. The HELOC rate, based on the current Prime Rate as published in the Wall Street Journal (the Index) plus a Margin. Current HELOC rates are available by clicking here or by calling the Credit Union at 888.800.3328. Loan origination fees ranging from $300 to $600 for opening a HELOC may be charged.

    5 Certain terms and conditions may apply. Contact the Real Estate department at 888.800.3328 for details.

    * $300 origination fees waived for loans up to $250,000, in second lien position on owner-occupied single-family primary residence located in the State of California. The APR is variable and is based upon an index (The Wall Street Journal Prime Rate), plus a margin. Floor rate is 4%. Maximum APR is 18.00%. Margin, rate and payment amount may vary based on property value, loan amount, creditworthiness and other factors. Property insurance is required: flood insurance may be required depending on the location of the collateral. Please consult your tax advisor regarding interest deductibility. Credit and collateral are subject to approval. Terms and conditions apply. Rates, terms and conditions are subject to change without notice.

    ** $300 of the processing fees waived for loans up to $250,000, in second lien position on owner-occupied single-family primary residence located in the State of California. Additional fees will apply. Credit and collateral are subject to approval. Terms and conditions apply. Rates, terms and conditions are subject to change without notice.

    *** Offer available for new applications submitted between October 1 and December 31, 2022. All loans are subject to credit, income, and collateral approval. Other fees may apply. Terms and conditions apply. Rates, terms, and conditions are subject to change without notice. If you have questions or want additional information, please call our Real Estate Loan Team at 888.800.3328.