Enroll | Forgot Password? | Forgot Username?

Introductory rates as low as 7.99% APR* for the first 12 months(1). Home Equity Line of Credit. LEARN MORE. Copyright 2024 Wheelhouse Credit Union. Equal Housing Opportunity.

* APR = Annual Percentage Rate.
Rates are effective as of 09/01/2024 and are subject to change without notice. Rates are based on creditworthiness. Introductory rate is fixed for the first 12 months.

¹ Wheelhouse® Credit Union’s primary area of service is Southern California which includes San Diego County. Your home must be owner occupied and located in our service area. Introductory fixed APR is based on a combined loan-to-value (CLTV) and will remain in effect for 12 months from the date the Home Equity Line of Credit (HELOC) Agreement and Disclosure Statement was signed. Thereafter, the introductory APR will revert to a variable APR and will be adjusted on the first day of each billing cycle based on the WSJ Prime Rate + a margin up to 3.00% depending on loan parameters. As of 07/27/2023, the APR ranges from 9.50% – 11.50% APR. The maximum APR that can be applied is 18.00% and the minimum is 3.99%. Maximum credit limit subject to CLTV guidelines. Minimum credit line available is $25,000. You can obtain advances of credit for 10-years (Draw Period); the Draw Period will be followed by a Repayment Period as outlined in your HELOC Agreement. Property insurance is required. All loans are subject to credit approval, income verification, and satisfactory appraisal and collateral. Rates, terms, and fees are subject to change without notice. Please consult a tax advisor regarding the deductibility of interest. Download this PDF guide to learn more about What You Should Know About Home Equity Lines of Credit.
Draw Period: You can obtain advances of credit for 10-years (Draw Period). During the Draw Period, your minimum payment will equal the total of (a) the periodic finance charges, and other fees, charges and costs including without limitation, any other expenses or advances incurred by us under the Security Instrument and (b) accrued but unpaid interest for prior Billing Cycles. The Draw Period will be followed by a Repayment Period as outlined in your HELOC Agreement. During the Repayment Period, if any, your minimum payment will equal the fraction as outlined in your HELOC Agreement of your unpaid Account Balance at the end of the Draw Period, plus all periodic finance charges, and other fees, charges, and costs. All payments will be due monthly. The minimum payments may not be sufficient to fully repay the principal that is outstanding on your HELOC. If they are not, you will be required to pay the entire outstanding balance in a single payment and a balloon payment may result. Your minimum payments will not repay the principal that is outstanding on your line. You will be required to pay the entire outstanding balance in a single payment.

Minimum Payment Example: The information provided is based on an initial $10,000 advance at funding on an existing single-family home used as a primary residence. The assumed credit score is 720 with an assumed CLTV of 75% and a credit limit of $100,000.

During the 10-Year Draw Period
• 12 payments of $66.58 at an initial interest rate of 7.99%.
• 108 payments of $79.16 at a variable interest rate of 9.50%.

During the 20-Year Repayment Period
• 239 payments of $93.27 at a variable interest rate of 9.50%.
• 1 payment of $89.25 at a variable interest rate of 9.50%.

Other terms and conditions may apply. Equal Housing Opportunity. Membership required.

Learn More

Options to Avoid Foreclosure

Wheelhouse Credit Union wants to help you avoid foreclosure and stay in your home whenever possible. If you have a Wheelhouse Credit Union mortgage loan and are unable to make your full monthly payment due to financial hardship caused by these uncertain times, call us as soon as possible toll free at 888-907-3628, option 4 or 619-278-5796 and ask to speak with Brian Dutra, our Real Estate Accounts Representative.

We Have Options Available to Help You

We have several real estate modification and refinancing plans available that may reduce your monthly payment temporarily or for the full term of your loan if you qualify. These options include:

Loan modification

Loan modification changes the terms of your loan agreement to reduce your monthly payment.

Loan Refinance

Refinancing your existing loan into a new product that could reduce your payments.

Loan Payment Deferment

You may be able to skip a few payments now while you’re getting your finances back on track.

What You’ll Need to Get Started

Once you’ve contacted us about your loan, we’ll arrange a telephone or in-person meeting to discuss your unique financial situation and to determine which option best meets your needs. To help us understand your circumstances, please be prepared to provide:

A written explanation of your situation and how you would like us to help;
A recent pay stub or your most recent tax return and proof of any other income you may receive;
A detailed account of your monthly expenses; and,
An updated loan application and current credit information.

We may ask for additional information as determined by your situation.

Other helpful resources

The United States Department of Housing and Urban Development (HUD) offers free and low-cost housing counseling. You can contact HUD toll-free at 800-569-4287 or on the web at www.hud.gov.

Housing and Urban Development

Call us today

Brian Dutra, Real Estate Specialist NMLS# 793925

You are leaving Wheelhouse® Credit Union’s website. Links that may be accessed via this site are for the convenience of informational purposes only. Any products and services accessed through this link are not provided or guaranteed by Wheelhouse® Credit Union. The site you are about to visit may have a privacy policy that is different than Wheelhouse® Credit Union’s. Please review their privacy policy. Wheelhouse® Credit Union does not endorse the content contained in these sites, nor the organizations publishing those sites, and hereby disclaims any responsibility for such content.