Home Equity Loans

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

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

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

	APR	Maximum APR
LCCU First Mortgage	8.25%	18.00%

The Fine Print

The important details

*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