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Home Loans

Home Equity Line of Credit

The Police Credit Union offers HELOCs to members who may be planning expenditures ranging from home improvement projects, like a kitchen remodel, planning the next family vacation, or paying for school tuition. Home equity lines of credit are also a smart way to achieve financial goals such as covering college expenses or purchasing an investment property.

Our HELOC features an introductory rate of Prime minus 1.00% for the first 12 months. The Police Credit Union will help you make the most of the equity in your home to improve your life.

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Features & Benefits

  • The one year introductory rate is Prime - 1.00%
  • Credit limits from $20,000.00 to $500,000.00
  • Borrow funds as needed, up to your credit limit. Minimum draw amounts may apply.
  • Enhanced approval process to get you access to your HELOC faster!
  • Free checks for easy access to funds
  • Possible tax savings (consult your tax advisor)  

Home Equity Line of Credit
Rates Effective: October 1, 2022
Property TypeDraw/Repay PeriodRates as low as
Owner Occupied and Second Home Properties $20k - $500k10 Year Draw with Interest First Repayment/20 Year Repay Principal & InterestPrime + 1.25%
Investment Properties $20k - $300k10 Year Draw with Interest First Repayment/20 Year Repay Principal & InterestPrime + 2.00%

Contact Us

Have questions? Get in touch using the form below, and we’ll guide you through the process.

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Owner Occupied:* The fixed introductory rate is Prime minus 1.00% for the first 12 months and valid on Owner Occupied and Second Home Properties only (Investment properties and/or the refinancing of an existing HELOC secured by same property are not eligible). Rates thereafter based on Prime Rate as published in the Wall Street Journal (“Index”) + Margin; The amount of the margin may vary, depending upon individual credit history; Quarterly adjustments; January, April, July, October; Floor Rate 4.00%; Ceiling Rate 15%; Maximum Combined Loan-to-value 80% Owner-occupied; A $100 inactivity fee will be imposed if the balance is $0.00 for 12 consecutive months. Administration fee: $500.00 if line closed within 36 months of open date. Property insurance is required; flood insurance may be required. The Police Credit Union will pay customary closing costs such as credit report, flood certificate, tax service, junior loan policy, recording fees, wire fees, etc. The applicant will pay for all other fees, such as full appraisal, full escrow, full title insurance, fees associated with any payoffs in escrow, and remote/accommodation notary fees. Typical fees range from $450.00 - $1,600.00. Offer good for primary and second homes in California.

Investment Properties (Non-owner Occupied): **Rate based on Prime Rate as published in the Wall Street Journal (“Index”). + Margin. The amount of the margin may vary, depending upon individual credit history; Quarterly adjustments; January, April, July ,October; Floor Rate 4.00%; Ceiling Rate 15%; Maximum Combined Loan-to-value 75% Non-Owner-occupied; A $100 inactivity fee will be imposed if the balance is $0.00 for 12 consecutive months. Administration fee: $500.00 if line closed within 36 months of open date. Property insurance is required; flood insurance may be required. The Police Credit Union will pay customary closing costs such as credit report, flood certificate, tax service, junior loan policy, recording fees, wire fees, etc. The applicant will pay all other fees such as full appraisal, full escrow, full title insurance, fees associated with any payoffs in escrow, and remote/accommodation notary fees. Typical fees range from $450.00 - $1,600.00.

Apply for The Police Credit Union Home Equity Line of Credit today through our online loan application or by calling The Police Credit Union at 800.222.1391. You also can visit one of our convenient branches.