Thank
you for your interest in a Southland Credit Union Home
Equity Loan or Line of Credit. Home Equity Loans and
Lines
of Credit are secured by a Deed of Trust on owner-occupied
or second homes within California. Both loans offer a
variety of features, plus the interest on your loan may
be tax deductible. (Please consult a tax advisor.) Look
at our loan features to see which loan is best for you.
Home Equity Loan Features:
Home Equity Line of Credit Features:
10 to 30-Year terms
Fixed interest rates
Fixed monthly payments
No prepayment penalties
No balloon payments
Loans up to 100% of the appraised value, less all other lines, up to $750,000*
Variable interest rates
Convenient access to funds with HELOC Access Card
Advances available at any time, up to your available credit limit
Credit Lines up to 100% of the appraised value, less all other lines, up to $250,000
Credit Lines up to 80% of the appraised value, less all other lines, up to $500,000
Flexible monthly payments
To apply for a Home Equity Loan or Home Equity Line
of Credit, please review the following forms:
In addition, please gather the documentation listed below:
Photocopy of your two (2) most recent pay stubs. If
self-employed, a
complete and signed copy
of your two (2) most recent federal tax returns
(with all schedules) is required.
No originals please.
Photocopy of most recent mortgage statement.
Photocopy of hazard insurance or Homeowner's Association declaration page.
These documents may be faxed to (562) 936-8749
Receipt
of these documents will expedite your Loan decision
and funding. For assistance with your loan, please call:
800.426.1917 or 562.862.6831
(*You must review the forms above before starting the application process.)
*Applies to owner-occupied
property only.
*All loans subject to credit approval.
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