Home Equity
What's the difference?
Similar to a credit card, a HELOC allows you to borrow what you need up to your credit limit.
Learn MoreWhat could you do with your homes' equity?
Use the equity in your home to pay for home improvements when your savings isn’t enough.
Replace your high-interest debt with a low-rate home equity loan and save money.
Enjoy the wedding you’ve always dreamed of by using your home’s existing equity to pay for expenses.
From tuition and textbooks to equipment and supplies, get a home equity line of credit that’s available for all your educational expenses.
You never know what expenses might pop up when you purchase an investment property. Have the funds you need on-hand when you need them.
Use your HELOC to pay for any ongoing for variable expenses in your life and have the funds available whenever you need them.
Have a question?
If you have questions about any part of the home buying process, our mortgage experts are here to help. Schedule an appointment or give us a call at 1 (800) 609-9009.
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1Home Equity Line of Credit Disclosure
Rates effective April 2, 2025. All rates, terms and special offers subject to change. Certain restrictions apply. 60% CLTV required. Rate is variable based on an index with max rate of 15.00% APR. Example of current rate using that index: 7.488% APR. Average fees for home equity loan range from $0.00-$4,000. Consult your tax advisor for details regarding tax deductibility2Home Equity Loan Disclosure
Rates are effective April 2, 2025. Rate is based on a fixed-rate home equity loan with a 740 credit score. Certain restrictions may apply. Rate subject to periodic adjustments after closing. Estimated payment amount for $20,000 loan at 7.488% APR, with 30 year term and 70% CLTV is $400.66 (does not include taxes or insurance, actual payment amount may be greater). CA properties only
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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