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Home Equity

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Home Equity Line of Credit

A Wescom Home Equity Line of Credit (HELOC) lets you borrow against available equity using your home as collateral. Avoid the inconvenience of annual fees1 by becoming a Platinum Signature Member.

You’ll enjoy an introductory rate2 of 3.99% APR for the first 12 billing cycles, then rates as low as 9.00% APR after. Plus, lock in your rate with our fixed rate conversion feature and get a 0.50% APR rate discount on converted balances6.

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Get the Most From Your Home

BENEFITS

Help pay off higher-interest debts or help cover home improvements, tuition, or major purchases with a Wescom Home Equity Line of Credit (HELOC). 

Introductory Rate
Rate 3.99% APR2 for the first 12 billing cycles,
then rates as low as 9.00% APR to 13.00% APR after that
Borrow up to
Rate 90% of the value of your primary residence3
Origination Fees and Closing Costs
Rate None4
Signature Relationship Points
Rate Three5
Introductory Rate 3.99% APR2 for the first 12 billing cycles,
then rates as low as 9.00% APR to 13.00% APR after that
Borrow up to 90% of the value of your primary residence3
Origination Fees and Closing Costs None4
Signature Relationship Points Three5
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Fixed Rate HELOC

After your introductory offer, take advantage of our fixed rate conversion option which allows you to lock in all or part of your balance to a fixed rate at 0.50% APR6 discount. With our HELOC Fixed Rate feature, you can:

  • Lock outstanding HELOC balances of $15,000 or more into a fixed rate without having to apply for or take out another loan
  • Receive a fixed rate conversion rate discount of 0.50% APR
  • Flexible terms are available from 5 to 20 years in five-year increments, depending on the length of time you have left on your existing HELOC and the amount converted on a term of your choosing
  • Have multiple converted balances (up to three at any one point)
  • $75 conversion fee applies

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THE EQUITY IN YOUR HOME

CALCULATE A HOME EQUITY LINE OF CREDIT PAYMENT

HOME EQUITY LOAN OR LINE OF CREDIT?

PAYING OFF A HOME EQUITY LOAN OR LINE OF CREDIT

CALCULATE A HOME EQUITY LOAN PAYMENT

USE HOME EQUITY FOR A MAJOR PURCHASE

CONSOLIDATING DEBT WITH HOME EQUITY

DISCLOSURES

Please read each of the required disclosures below before you proceed to apply for your Home Equity Line of Credit loan.
Home Equity Early Disclosure
What You Should Know

APR (Annual Percentage Rate) in effect as of 7/28/2023 and is subject to change without notice. Membership eligibility required. All accounts and loans are subject to approval.

1 $75 annual fee on our Equity Line is waived the first year and for Platinum Signature Members and is secured by your Primary Residence. Call for more details.

2 To be eligible for the introductory fixed rate for the first twelve (12) billing cycles option, you must not have had a Wescom HELOC within the last six months. 9.00% APR to 13.00% APR is the standard variable APR that would apply if this special rate was not offered. This is available for primary residences only with a combined loan-to-value at or below 80%. The rate or margin you qualify for is based on credit qualifications and the combined loan-to-value (CLTV) of your property.

3 Based on combined balances of all mortgages and current value of the subject property Wescom makes Home Equity Lines of Credit on primary residences, second/vacation and investment homes in California only.

4 Wescom will cover most closing costs associated with a HELOC which may include: credit report, title insurance, flood certification, settlement/closing, recording, property search. If a full appraisal is requested by the member to validate the property value obtained, the cost will be paid by the member. If the line of credit is paid off and the loan is closed during the first thirty-six (36) months following the date of the Note, a processing fee to reimburse the Credit Union for closing costs associated with the HELOC will be due to the Credit Union upon payoff and closure of the loan. The processing fee ranges from $750 to $2,500 depending on the loan amount of the HELOC.

5 Signature Membership terms and conditions apply. For more information about Signature Membership, visit wescom.org.

6 If you choose to convert any portion of your balance to a Fixed Rate Conversion (FRC), the 0.50% APR discount will be applied to the HELOC variable rate (Prime Rate plus a margin) that is in effect on the date of conversion.

The Home Equity Line of Credit is a variable rate loan. The Rate and APR will increase or decrease monthly based on a comparison of the loan's Rate to the Prime Rate index plus the margin, if any Monthly payments may vary and decrease or increase corresponding to changes to the Rate. Maximum combined loan-to-value of 90%. The rate or margin you qualify for is based on various factors including your credit rating and the combined loan-to-value (CLTV) of your property.

A Wescom HELOC fixed rate conversation (FRC) option allows members with a new or existing HELOC to convert a portion or the entire outstanding balance into an amortized term segment of their choice at a fixed interest rate. Members may have up to three separate FRCs open on their HELOC at any one time. HELOCs currently within a special introductory rate period are not eligible for the FRC until the introductory period has ended. Terms and conditions apply.

Certain fees, conditions and restrictions may apply. Home Equity Lines of Credit are secured by your home. If you’re paying off an existing real estate loan, the Credit Union does not cover costs imposed by other lenders, if any. Rates and terms subject to change without notice. Loan approval subject to credit evaluation. Property insurance is required.

Wescom Credit Union NMLS ID 999430

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