Real Estate Loans:
With a closed-end Second Mortgage, we will advance one lump sum which is paid back in 15 years. The rate is fixed. For non-owner occupied property, the term is 12 years.
A home equity line of credit is where we establish a limit up to which you can draw. You can draw up to this limit for five years. After the draw period the balance is paid in fifteen year.
We use a 75% LTV. This means you must have at least 25% equity in the property. California properties only qualify. On HELOC’s, property must be owner occupied.
To apply for real estate, please call or write the credit union.

