as low as
7.99% APR*
for the first 12 months1 ,with a 9.00% - 11.00% variable APR* after that
*APR = Annual Percentage Rate Get Started
HOME EQUITY LINE OF CREDIT
Your home has value; and with a Home Equity Line of Credit from Wheelhouse Credit Union, you can use that equity to pay for home renovations, a newly remodeled kitchen and other large purchases. With an Equity Visa® Card and Wheelhouse’s state–of–the–art digital banking, making purchases and transfers is easy.
Download this PDF guide to learn more about What You Should Know About Home Equity Lines of Credit.
7.99% APR*
for the first 12 months
- Use it for 10 years, with an additional 20 years to repay the loan2
- Fixed HELOC rate for the first 12 months; variable rate for the rest of the term
- Borrow up to 75% of the equity in your home3
- Only pay interest on the funds you use from your Wheelhouse Home Equity Line of Credit
|
Combined Loan-To-Value (CLTV) |
Loan Amount |
Rate |
Introductory APR* |
Points |
|---|---|---|---|---|
|
Second Home property types will require a 0.25% add-on to published rate. Investment property types will require a 0.50% add-on to published rate. $25,000 minimum loan amount. Other conditions may apply. |
||||
|
Combined Loan-To-Value (CLTV) Up to 75% |
Loan Amount $25,000 to $100,000 |
Rate 7.99% |
Introductory APR* 7.99% |
Points 0.000 |
|
Combined Loan-To-Value (CLTV) Up to 65% |
Loan Amount $25,000 to $250,000 |
Rate 7.99% |
Introductory APR* 7.99% |
Points 0.000 |
Access HELOC via Online Transfers
Advance funds from your HELOC to your Checking or Savings Account within Digital Banking
Use Your Equity Visa Card
Make purchases online and in–store with your Visa Card
Protect Your Line of Credit
Add your Equity Visa Card to our Card Security App to protect yourself from fraud
More Wheelhouse Benefits
- Always offering competitive low rates
- Personalized service
- State-of-the-art Digital Banking and Mobile App
- 24/7 access to your funds
- Security and fraud prevention with our Card Security App
- Serving San Diegans since 1934
- The Credit Union of choice for conscientious San Diegans
Automatic Payments
Set up automatic payments to your HELOC through Digital Banking
Free e-Statements
Get your statements faster when you enroll in free eStatements through Digital Banking
Tax Deductions
Interest paid on your Home Equity Line of Credit may be tax deductible4. Consult your tax advisor.
Home Equity Calculators
619-297-4835
Disclosures
*APR = Annual Percentage Rate. Rates are effective as of 10/01/2024 and are subject to change without notice. Rates are based on creditworthiness. Introductory rate is fixed for the first 12 months.
1Introductory 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 09/19/2024, the APR ranges from 9.00% – 11.00% 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 (https://www.wheelhousecu.com/files/201603_cfpb_booklet_heloc.pdf).
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 $75.00 at a variable interest rate of 9.00%.
During the 20-Year Repayment Period
• 239 payments of $90.00 at a variable interest rate of 9.00%.
• 1 payment of $86.09 at a variable interest rate of 9.00%.
Other terms and conditions may apply. Equal Housing Opportunity. Membership required.