ANAHEIM HILLS, Calif.–Credit Union of Southern California (CU SoCal) is offering a low first-year 2.22% APR on a Home Equity Line of Credit (HELOC).
The promotional rate is available through May 14, 2022.
CU SoCal reported it ran a similar HELOC promotion in fall of 2021 and is re-introducing the offer due to popular demand. The promotion only applies to new HELOCs at CU SoCal; however, it can be used to refinance HELOCs from other lenders, the credit union said.
According to the CU members can access up to 80% of their home’s combined loan-to-value (CLTV) with a CU SoCal HELOC, for a maximum line of $250,000.
‘Significant Rise in Value’
“Southern California homeowners have seen a significant rise in the value of their homes over the last two years, providing them the opportunity to achieve important goals with their home’s equity,” said CEO Dave Gunderson. “We make it easy for homeowners to affordably access their home’s equity to either improve their homes or meet a critical financial need.”
The $2-billion CU SoCal has more than 130,000 members.
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