A Home Equity Line of Credit (HELOC) is a low-cost alternative to high-interest consumer loans and credit cards. You can borrow up to 90% of your home's appraised value* to do things you want to do, such as start home improvements, take a long-overdue vacation or even pay off your credit card debt.
Since a HELOC is a revolving line of credit, it allows you to access your funds any time. If you already have an existing HELOC with us, increasing your current credit limit is easy — just apply for your new amount.
Variable rates as low as Prime +.25%
Flexible monthly payments
Cash advances available any time, up to your available credit limit
Credit lines up to 90% of your home’s equity*
Line amounts up to $500,000
HELOC Access Visa Card
Online Bill Pay
Increase your Limit Any Time
Borrow up to 90% LTV
A Home Equity Line of Credit (HELOC) is secured by a Deed of Trust on one to four family homes within California, and must be in first or second position on the property. Southland's HELOC offers a variety of convenient features, and the interest on your loan may be tax deductible. Your may borrow up to 90% of the appraised value of your owner occupied home, less the balance of your first mortgage, if any. The Southland HELOC features a 10-year draw period with interest-only minimum payments.
Rates Effective 05/04/2020
Non-Owner Occupied add 1.25% with a max LTV of 70%.
1Annual fee of $50, waived with a minimum of $10,000 outstanding balance for 30 days during the year.
2HELOC Variable APR is based on Prime Rate of 5.25% + the margin rate stated above. Other rates may apply based on credit. Annual cap of 5% over fully indexed rate. Lifetime cap of 15%. Closing costs for the HELOC are currently waived (subject to change).
3APR = Annual Percentage Rate. HELOC APR is calculated on $100,000 loan amount.