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Home Equity Loans

When you are ready for that long planned-for addition or renovation, we are here to help you improve your home.

What You Need:

  • Be a Latino CU member
  • Proof of employment for the last twelve (12) months (pay stubs and most recent W2)
  • If self-employed, the most recent two (2) years of signed federal income tax returns)
  • A minimum of two (2) lines of traditional or alternative** credit active for at least six (6) months
  • Current insurance policy and copy of all the deeds to the house

What You Get:

  • Low closing costs
  • Interest on all open-end loans is variable
  • Advances up to the maximum loan amount may be made repeatedly throughout the 15-year draw period and there is no need to reapply or record a new deed of trust
  • Advances may be made through Online Access or by contacting your local branch
  • Interest paid may be deducted on tax returns*
  • Access your account online and do much more with our electronic services. Click here for details

Home Equity Line of Credit

APR Maximum APR
First Mortgage is with LCCU8.50% 18.00%
  • *Check with your tax advisor for specific benefits that may apply to you
  • Rental properties/second homes are not eligible as collateral on home equity lines
  • Maximum CLTV up to 90% based on occupancy and valuation
  • Combined amount owed on LCCU First ML and home equity line cannot exceed $1,000,000
  • Manufactured homes are not acceptable collateral. Condos and townhomes are acceptable
  • Advances to your credit line cannot continue beyond the 15-year draw period. However, your repayment period would continue as originally scheduled until your remaining balance is paid in full
  • Home Equity Lines are only available on properties

Mortgage Calculator

LCCU Home Buying Guide

CFPB Home Loan Toolkit

HELOC Important Terms

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