Home Equity Line of Credit

Turn your home’s equity into financial flexibility

Your home may be one of your biggest financial assets. With an SBCFCU Home Equity Line of Credit (HELOC), you can use the equity you’ve built to access funds for home improvements, debt consolidation, major purchases, unexpected expenses, and more.

Borrow what you need, when you need it, up to your approved credit limit.

Today’s HELOC rates:

Starting at 6.00% APR* based on credit worthiness.

New lines of credit get a 1% discount for the first 12 months.

Lines of credit are based on a variable rate that is subject to change at any time.

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Home Equity Line of Credit

Turn your home’s equity into financial flexibility

Borrow what you need, when you need it, up to your approved credit limit.

APPLY IN PERSON LEARN ABOUT HELOCS

Flexible access

Draw from your available line of credit as you need it, rather than borrowing everything at once.

Borrow against your equity

Access funds based in part on the equity you’ve built in your home, subject to approval.

Use it your way

Use your HELOC for home improvements, debt consolidation, major purchases, unexpected expenses, and more.

Use your HELOC for what matters to you

A HELOC can be a flexible way to finance a variety of needs.

Improve your home

Home improvements & renovations
Repairs & upgrades
Large home projects

Manage major expenses

Major purchases
Education expenses
Unexpected expenses

Plan for what’s ahead

Debt consolidation
Large projects & life events
And more

Borrow what you need, when you need it

Unlike a traditional loan where you receive one lump sum upfront, a HELOC gives you access to a line of credit that you can draw from as needed.

Access funds again as you repay

As you repay what you borrow, you may be able to access those funds again during your draw period, subject to your approved credit limit and account terms.

A HELOC can be a convenient option when you know you’ll need access to funds but don’t necessarily need to borrow everything at once.

HELOC or traditional Home Equity Loan?

HELOC

Provides a line of credit you can draw from as needed, up to your approved limit.

Traditional Home Equity Loan

Generally provides one lump sum upfront.

A HELOC may be a good option when you want ongoing access to funds rather than borrowing one specific amount.

Why Choose SBCFCU

Member-owned

As a member-owned credit union, SBCFCU is focused on helping its members, not shareholders.

Personalized service

Work with a local team that can answer your questions and help you understand your options.

Financing that fits

Get help determining whether a HELOC is the right fit for your financial goals.

Flexible access. Local service. A loan designed around your needs.

Put your home’s equity to work.

Home equity financing options vary based on your needs and available equity. Contact SBCFCU to learn more about current Home Equity Loan and HELOC options, rates, and terms.

Common questions (FAQs)

Find answers to some of the most common questions about SBCFCU home equity loans.

A Home Equity Line of Credit (HELOC) allows you to borrow against the equity you’ve built in your home. Instead of receiving one lump sum, you have access to a line of credit that you can draw from as needed, up to your approved credit limit.

You can use your HELOC for a variety of expenses, including home improvements, debt consolidation, major purchases, unexpected expenses, and other financial needs.

Once you’re approved, you have access to an available line of credit. You can borrow what you need, when you need it, rather than taking the entire amount at once. As you repay what you’ve borrowed, available credit may become available again, subject to the terms of your HELOC.

The amount you may qualify for depends on factors such as the equity in your home, your credit history, income, existing debt, and other lending criteria. Your approved credit limit will be determined during the application process.

Yes. A HELOC is secured by your home, which means your home serves as collateral for the line of credit.

A traditional home equity loan generally provides you with a lump sum upfront, while a HELOC provides a line of credit you can draw from as needed. A HELOC can be a good option when you want ongoing access to funds rather than borrowing one specific amount.

Yes. Debt consolidation is one of the ways you can use your HELOC. Consolidating higher-interest debt may help simplify your payments, but it’s important to consider the overall cost and terms before making a decision.

Yes. A HELOC can be a flexible way to fund renovations, repairs, upgrades, or other home improvement projects.

No. One of the benefits of a HELOC is flexibility. You can generally borrow only what you need, up to your approved credit limit, rather than taking the full amount at once.

Yes. You must be an SBCFCU member to apply for a HELOC. Not a member yet? Join SBCFCU

Ready to get started? Apply for a HELOC or contact our team at 805-682-3357. We’ll be happy to answer your questions and help you understand your options.

Ready to put your home’s equity to work?

If you’re considering a home improvement, looking to consolidate debt, or simply want access to funds for a future expense, an SBCFCU HELOC may be a good option.

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*APR = Annual Percentage Rate. Home Equity Lines of Credit are subject to credit approval, applicable terms and conditions, and available equity in your home. Your home is used as collateral for the line of credit. Please contact SBCFCU for current rates, fees, eligibility requirements, and additional details.