Home Equity Options
If you're looking for a low-cost loan for major purchases or expenses, or to consolidate debt, the equity in your home can be a great resource. Plus, the interest may even be tax deductible. Check with your tax advisor.
We offer you two options to suit your borrowing needs and preferences.
Home Equity Loan
- May be right for you if you have a large expense such as a major home improvement or you want to consolidate your debt
- Funds disbursed all at one time
- Fixed interest rate
- Fixed monthly payment amounts
Home Equity Line of Credit
- May be right for you if you have a recurring expense such as a home renovation or education expenses
- Funds can be used as needed
- You are approved for a specific credit limit that can be used repeatedly over a period of time
- Variable interest rate
- Variable monthly payment amounts
Limited time offer!
3.99%APR* Introductory fixed rate for the first 12 months / 5.0%APR* Current variable rate
No closing costs!**
Learn more on how our low-interest, tax-deductible1 Home Equity Line of Credit can give you more green.
Easy ways to make loan payments
- Payroll Deduction
- Internet Teller payments & transfers
- Online Bill Pay
- Mobile, Telephone & Text Banking
- Transfer by phone through Member Services
- Mail a check or pay at a branch
- Pay by credit card or e-check transfer from another financial institution
*APR=Annual Percentage Rate. Rates effective 03/15/2018 for new Home Equity Lines. Please call NCCU at 858- 487-1880 for current rates. Hazard, flood and title insurance and NCCU membership are required on all Home Equity Lines. California owner-occupied residences only. All loans subject to credit approval. Home Equity Line Introductory APR is “discounted” for the first twelve billing cycles. Our standard fully-indexed APR will commence beginning the thirteenth billing cycle. Our standard APR is based on the Wall Street Journal Prime Rate (Prime + 0%). When a range of prime rates is published, the highest prime rate applies. Rate varies monthly. Maximum APR is 14%. Minimum APR is 5%. NSF charge is $30. Late payment fee is 5% of payment or $10.00, whichever is greater. Over-the-limit fee is $18.
**For a limited time, NCCU will cover the following closing costs (fees): flood certification, title insurance, escrow, credit report, condo processing, mortgage recording, notary, and trust documentation. If the loan is closed within three years of origination, an Early Account Closure Fee of $500 will be assessed to recover to cost of the fees paid by NCCU. A Reconveyance Fee is charged when the line is closed and the balance is paid in full. The $25 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 appraisal will be required. If an appraisal is ordered, the actual cost will be paid by you. The minimum initial credit advance that you can receive is $10,000. Offer subject to change without notice.
1Check with your tax advisor.