Home Equity Line of Credit

Accomplish more with your Home Equity

Lock in a low rate for the first five years of your loan!

5-Year Fixed Rate HELOC Advantage

APR* as low as 6.75%
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A Home Equity Line of Credit (HELOC) is a low-cost alternative to high-interest consumer loans and credit cards. You can borrow up to 80% of your home's appraised value of your owner-occupied home* to do things you want to do, such as start home improvements, take a long-overdue vacation or even pay off your credit card debt.

Since a HELOC is a revolving line of credit, it allows you to access your funds any time. If you already have an existing HELOC with us, increasing your current credit limit is easy — just apply for your new amount.

 

Does my home qualify for a HELOC?

A HELOC is secured by a Deed of Trust on one to four family homes or a condominium within California, and must be in first or second position on the property. If you have questions about your home’s eligibility, you are welcome to contact us to discuss your options. 

 

How much can I borrow?

You may borrow up to 80% of the appraised value of your owner occupied home, less the balance of your first mortgage, if any. The Southland HELOC features a 10-year draw period with interest-only minimum payments.

Southland's HELOC offers a variety of convenient features, including cash advances any time up to your available credit limit, and the interest on your loan may be tax deductible.

Features

Fixed rate for the first five years of the loan

Flexible monthly payments

No points

Credit lines up to 80% of your home’s equity*

Cash advances available any time, up to your available credit limit

Line amounts up to $500,000


Benefits

icon of a credit card

HELOC Access Visa card

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Online bill pay

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Cash advances 

Borrow up to 80% LTV

Rates Effective 12/11/2025

  • HELOC A
    6.75% 5-Year Fixed Rate
    Prime + 0% Variable Rate
    $50/Waived Annual Fee1
    Prime Variable Index2
    Waived Closing Cost3
    Up to 70.00% LTV/CLTV Advance Policy
    6.75% APR4
    $500,000 Maximum Loan Amount
  • HELOC B
    7.00% 5-Year Fixed Rate
    Prime + 0.25% Variable Rate
    $50/Waived Annual Fee1
    Prime Variable Index2
    Waived Closing Cost3
    70.01-80.00% LTV/CLTV Advance Policy
    7.00% APR4
    $500,000 Maximum Loan Amount

Non-Owner Occupied add 1.25% with a max LTV/CLTV of 70%.

1: Annual fee of $50, waived with a minimum of $10,000 outstanding balance for 30 days during the year.

2: HELOC Variable APR is based on the Prime Rate + the margin rate stated above. Other rates may apply based on credit. Annual cap of 5% over fully indexed rate. Lifetime cap of 15%.

3: Closing costs for the HELOC are currently waived (subject to change).

4: APR = Annual Percentage Rate. HELOC APR is calculated on $100,000 loan amount.

Calculate Interest Only Payments

Southland's HELOC features a 10-year draw period with interest only payments. Use our calculator to estimate your monthly payment. 

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*APR=Annual Percentage Rate. Other rates may apply based on credit. The initial interest rate is fixed for the first five years of the loan and then adjusts to the fully indexed variable rate at the beginning of the sixty-first month. Current HELOC Rate is based on Prime Rate + the margin. LTV = Loan to Value and CLTV = Combined Loans to Value, a ratio used to determine the equity available on your home. Annual cap of 5% over fully indexed rate. The rate cannot drop below 6.75% or exceed 15%. The rate shown assumes that you have a FICO of 700 or above. Investment HELOC Rate is based on Prime Rate + the margin (1.25% for up to 70% CLTV). Prime is based on the Wall Street Journal Prime Rate + margin based on credit score. All HELOCs are variable rate loans. Rates may change monthly on the first of the month. Rate cannot change by more than 5% in any one year. 10-year interest only terms followed by a 15-year amortized payback period. Credit limit determined in part by the equity in the real property, which is used as security for the loan. Maximum loan amount is subject to credit qualification and appraised property value. 

Fees: Closing costs are currently waived (subject to change). Limits greater than $250,000 will be charged a $199 origination fee. $50 annual fee is waived with a minimum outstanding balance of $10,000 for 30 days during the year. If your HELOC is paid off and closed during the first 3 years of the loan, you will be charged a $1,000 early termination fee to reimburse Southland Credit Union for third-party costs incurred at closing.

Membership is subject to eligibility. All new accounts/loans will be verified through ChexSystems and are subject to credit approval and verification of equity. Rates and terms are subject to change without notice. Mortgage interest tax deduction may be subject to income restrictions. Consult a licensed tax advisor regarding your ability to take this deduction. NMLS #685526.