Tap Into Home Equity
You've already got what it takes
Dream the (very possible) dream.
Once you’ve been paying on a mortgage for a while, your options start to feel a lot more promising. Learn how to put your home to work for you.
-
Borrow up to $250,000
No hidden stipulations. You can spend your money on anything you choose.
-
Get flexible terms
Choose from fixed and variable rates for a low monthly payment.
-
Affordable closing
Access your home equity loan or line of credit with low-to-no closing costs.
-
Possible tax break
If you use your equity for a home improvement, the interest payments may be tax-deductible1.
We’ve got options for you.
Home Equity Line of Credit
Spend the money on anything you choose — from home improvements to a trip of a lifetime – and draw funds as you need them. Since you only pay interest in the amount you borrow, a HELOC is ideal for projects that don’t have a fixed budget or to get quick cash for unexpected expenses.
- Borrow up to $250,000
- Low variable interest rate
- Interest may be tax deductible if funds are used on home improvements1
- Choose between a Standard HELOC and Interest Only:
- Standard HELOC – During the 10 year draw period, your payment will be 1.25% of the outstanding balance each month. Interest rate changes only apply to your outstanding balance, not your minimum payment.
- Interest Only – During the 10 year draw period, your payment will equal the interest that accrued on the outstanding balance during the previous month.
Fixed-Rate Home Equity Loan
When you know how much money you’ll need for, say, a home renovation, wedding or college expenses, a home equity loan can deliver the cash you need with a fixed monthly payment. Since it locks in a low, fixed interest rate, it can also be ideal for debt consolidation to help you pay off higher interest loans faster.
- Borrow up to $250,000
- Interest may be tax deductible if funds are used on home improvements
Tomorrow looks good from here.
As your local credit union, BluPeak offers competitive rates to help you dream bigger and build a better future.
|
Max. Combined Loan-To-Value |
Minimum Line |
Maximum Line |
Prime Rate |
Margin |
Variable APR without AutoPay |
Variable APR with AutoPay* |
|---|---|---|---|---|---|---|
|
Max. Combined Loan-To-Value Up to 70% |
Minimum Line $10,000 |
Maximum Line $250,000 |
Prime Rate 7.75% |
Margin 2.00% |
Variable APR without AutoPay 9.75% |
Variable APR with AutoPay* 9.25% |
|
Must meet membership and account criteria. All loans subject to credit approval. Rates, terms, and conditions subject to change. Some restrictions apply. APRs effective as of 12/1/2024 and are our best rates. Your rate may be higher based on your credit history and other qualifying criteria. The rate is variable, subject to a minimum rate of 3.99% APR and maximum rate of 15.00% APR. A $10,000 initial advance may be required. You may be required to reimburse us for closing costs if your line is closed in the first three years. *Automatic payments from a BluPeak Checking Account are required for full loan term otherwise rate will increase by 0.50%. |
||||||
Need answers? We’ve got ’em.
Need a payoff for an auto, personal or home equity loan? Call us at 866.873.4968 for personal assistance.
To request a Payoff Demand, fax your request to our Loan Servicing Department at 858.298.3682.
Thinking of refinancing your non-BluPeak Credit Union, auto, personal or mortgage loan? Call us first before you act. We offer extremely competitive rates and may be able to help you get the savings or extra cash you need.
Let’s crunch some numbers.
*Interactive calculators are made available to you as self-help tools for your independent use. They are not intended to provide financial or investment advice and may not be applicable to your specific circumstances. All examples are hypothetical and are for illustrative purposes.
Ready to take the next step?
Disclosures
Must meet membership and account criteria. All loans subject to credit approval. Rates, terms and conditions subject to change. APRs valid as of 11/18/2024. Some costs and restrictions apply. Home Equity Line of Credit: Property must be owner-occupied, single-family residence or 1–4 story condominium in California only. Maximum loan amount 70% combined Loan-To-Value (LTV).
No-closing costs are offered on HELOCs per the terms below and are available on fixed-rate home loans for a slightly higher rate. BluPeak will cover the following closing costs (fees): flood certification, title insurance, escrow, credit report, condo processing, mortgage recording, notary, trust documentation, release of third-party mortgage and automated valuation. If the loan is closed within three years of origination, an Early Account Closure Fee of up to $500 will be assessed to recover to cost of the fees paid by credit union. A Reconveyance Fee is charged when the line is closed and the balance is paid in full. The $50 Annual Fee is waived the first year and assessed on each annual loan anniversary date thereafter if the outstanding balance falls below $10,000. An optional appraisal may be required based on the automated valuation findings, the requested loan amount and LTV. If an appraisal is ordered, the actual cost will be paid by you.
- Check with your tax professional for more information.
- The rate is variable and may adjust monthly but at no time can the interest rate be below our floor rate of 3.99% and cannot exceed the max rate of 15.00% APR.