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Home Equity

You’ve worked hard for your home. Now let it work hard for you.

Loans and Lines of Credit

Put Your Home to Work For You

A Wescom Home Equity Loan or Home Equity Line of Credit allows you to borrow against your home's equity. Plus, interest on a Home Equity Loan or Line of Credit is generally tax-deductible (consult your tax advisor). Use the cash for home improvements, tuition, or other major purchases; or use the money to pay off higher-interest debts and save hundreds of dollars per year.

Note: Wescom makes Home Equity Loans (closed-end) and Home Equity Lines of Credit in California only. Please call us at 1-888-4WESCOM (1-888-493-7266), ext. 5900 for details.

Loan Options

  • Home Equity Loan — Offers a fixed rate and closed-end term. Borrow up to 85% of your home's equity or $500,000†.
  • Home Equity Line of Credit — An open-ended credit line with an adjustable rate. Borrow up to 90% of your home's equity or $500,000†.

Now Offering HELOCs on Different Types of Properties

We've made it easier than ever to get a HELOC on your property. Non-owner occupied, vacation, and second home properties can now qualify for a Wescom HELOC (the 1.99% APR 6-month introductory rate is only available on owner occupied properties. Maximum CLTV is 85%).

†Loan amounts up to $500,000 available at reduced loan-to-value on primary residence only.

*APR = Annual Percentage Rate. To qualify for the 1.99% APR introductory rate, you must not have had a Wescom HELOC or Home Equity Loan within the last six months. The introductory rate is only available for primary residences. Maximum CLTV is 85%

Certain fees, conditions and restrictions may apply. Home Equity Lines of Credit and Home Equity Loans 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.

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. The maximum Rate and APR over the life of the loan is 17.90%. The minimum Rate and APR over the life of the loan is 3.00%. Monthly payments will decrease or increase corresponding to changes to the Rate. The HELOC is a 30 year loan term. The first 10 years is the draw period in which interest only payments are allowed, followed by a 20 year repayment period at fully amortized principal and interest payments.

If the loan pays off within the first three years of the new loan, for any reason, the member shall reimburse Wescom for origination charges of $695.

$75 annual fee on our Equity Line is waived the first year. An Equity Line of Credit is secured by your Primary Residence, Second Home, or Non-owner Occupied real estate property. Call for more details.