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Home Equity Loans & Lines of Credit

Is it finally time to complete that renovation or home improvement project? Whatever goal you have in mind, Cal Coast offers flexible options for home equity and home equity lines of credit to make your dreams a reality.  

Get the Credit You Deserve

Don’t put it off any longer! Build that outdoor deck, remodel your kitchen, or fix that leaking roof. It’s easy with a low introductory rate on a line of credit1 or a fixed-rate² equity loan.

Today's Rates

Home Equity Loans

Fixed-Rate, Lump Sum Loan

TERM RATE APR POINTS
10-Year Fixed² 7.000% 7.000% 0.000%
15-Year Fixed³ 7.500% 7.500% 0.000%
20-Year Fixed⁴ 7.875% 7.875% 0.000%

Home Equity Line of Credit (HELOC)

Adjustable Rate, Revolving Credit Line

Term Rate APR Points
Adjustable Rate Line of Credit¹ 7.750% 7.750% 0.000%

Make a phone appointment when it's convenient for you.

A one-on-one call with a Mortgage Loan Officer can be extremely helpful. You can ask questions and even submit your application over the phone.

Take the next step and apply for a home loan online.

It's easy to get started with our secure, mobile-friendly application. Plus, you can always save your progress and pick up where you left off at a later time. 

What are Home Equity Loans & Lines of Credit?

Both of the home equity financing options described below have specific advantages. If you're not sure which is right for you, we suggest you reach out to one of our Mortgage Loan Officers who are happy to provide guidance for your unique situation.

Home Equity Loans (also known as 2nd mortgages or Cash-Out Refinances), allow homeowners to borrow funds using their home equity as collateral. These are one-time, fixed-rate loans where the borrower receives the full loan amount upfront as a lump sum. Borrowers can qualify for a home equity loan even if there is an existing mortgage on the property.

Home Equity Lines of Credit (HELOC) are similar to Home Equity Loans, but instead of a lump sum the funds are accessed, with a credit card or checking account, through a revolving line of credit. Another difference to keep in mind is that the interest rate for a HELOC is adjustable. Typically, HELOCs have a draw period, during which you can withdraw money, and a repayment period, during which you must payback the balance. At Cal Coast our HELOCs have a 10-year draw period, with interest-only payments, and a 15-year repayment period.1


When should you consider a Home Equity Loan?

A Home Equity Loan can be a great option if:

  • You need the full loan amount upfront
  • You value stability 
  • You prefer a fixed-rate and knowing that your payment will never change

When should you consider a HELOC?

A HELOC can be a great option if:

  • You don't need the entire loan amount upfront
  • You need to access funds directly with a credit card
  • You want the flexibility to draw money when you need it and pay interest only on the amount borrowed

Comparing Equity Options

Home Equity Line of Credit Home Equity Loan
TERM Revolving Credit Line1 10², 15³, or 20-year⁴
Rate Adjustable Fixed
Maximum Loan Amount Up to $250,000 Up to $250,000
PROPERTY USE Owner occupied, 2nd home, Investment Owner occupied, 2nd home, Investment
Lender Closing Costs $0 out of pocket options $0 out of pocket options

Review your options with a Mortgage Loan Officer.


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Answer a few questions and a home loan expert will reach out to help you.

Thank you for your home loan inquiry! A Cal Coast Mortgage Loan Officer will reach out to you within one business day to go over your options. If you'd like to speak to someone sooner please feel free to call 858-636-3045 (Mon-Fri, 9am - 4pm).

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Is there currently a mortgage on the property?
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What is your preferred method of contact? Select all that apply.

How much can I borrow from my home equity (HELOC)?

Depending upon the market value of your home, outstanding mortgage balance, credit history and other factors, you may qualify for a HELOC. Monthly payments on a HELOC are variable as they fluctuate with interest rate changes. Use this calculator to estimate your borrowing capacity on a HELOC. (Subject to underwriting guidelines, including limits on maximum loan to value.)

Assumptions


This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. This service shall not infer that the company or its affiliates and email service provider, DocuMatix, Inc, assumes any fiduciary duties. In addition, such service should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. Use of service is provided without warranty of any kind, either express, implied or statutory, including FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, AND ACCURACY. Use of service is entirely at users own risk and user should seek professional financial and legal advice without reliance on service. Provider and email service provider shall not be liable for any lost profits, lost business, direct or indirect, punitive or consequential damages or damages of any kind arising out of service use. This agreement shall be governed and enforced by Utah law, with courts located in Salt Lake County, Utah the sole and exclusive venue. User agrees to indemnify and hold harmless company, email service provider, and affiliates from any and all liabilities and costs (including attorney fees) for any improper use or violation of these terms.
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APR = Annual Percentage Rate. Rates and terms effective as of 11/25/2024 based on credit history, subject to approval, and subject to change without notice. Some restrictions apply. Membership and credit subject to approval. Serving everyone who lives or works in San Diego, Riverside, Orange, Los Angeles, Ventura, Imperial, and San Bernardino Counties. A one-time $5 membership fee and savings account required. Restrictions apply.

  1. Home Equity Line of Credit
  2. 10 Year Fixed Equity 80 Loan
  3. 15 Year Fixed Home Equity 80 Loan
  4. 20 Year Fixed Home Equity 80 Loan

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