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Home > Loan & Credit Cards > Mortgages & Home Equity > Mortgage Loans Overview > Foothill Home Equity Loan and Home Equity Line

Mortgage Loans

All mortgage programs are not the same, and it’s important to understand the differences. Whether you're buying your first home, making your next move or simply refinancing, Foothill Credit Union has the terms, features and options designed to make getting a mortgage easier. Let us help you understand all the choices you have when it comes to a home mortgage. (NMLS# 681615)

Home Equity Loans

Home Advantage Loan

The Home Advantage Loan is a second mortgage on your primary residence. It allows you to borrow against the equity in your home that has grown with its increased value. You may use the loan for home improvements, education, unexpected expenses or for whatever you may like.

  • Easy source of cash
  • No pre-payment penalty
  • Financing Available (80% LTV)
  • Interest may be deductible– consult your Tax Advisor for details

Home Advantage Loan
Effective Date: Monday, February 20th, 2017
TermAPRLoan AmountEstimated Payment/$1,000
Terms up to 120 months
70% financing

4.70% - 6.20% $350,000 $10.21 - $10.27
80% financing

5.20% - 6.70% $350,000 $10.70 - $11.45
Terms from 121 months up to 180 months
70% financing 5.20% - 7.45% $350,000 $8.01 - $9.24
80% financing 5.70% - 7.90% $350,000 $8.27 - $9.53
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Home Equity Line of Credit (HELOC)

The Home Equity Line of Credit is similar to the Home Advantage in that the loan amount is determined by the equity you have built in your property. Instead of receiving a lump sum at closing, you are given a credit line from which you can draw funds whenever you need to, up to the credit line limit.

  • 12 month low introductory rate
  • 10-year draw period: repayment period 15 years
  • No pre-payment penalty
  • Interest may be deductible– consult your Tax Advisor for details

Home Equity Line of Credit - 80% CLTV
Effective Date: Monday, February 20th, 2017
Credit ScoreMaximum Loan AmountMarginCurrent APREstimated Payment/$1,000**
680+ $350,000.00 0.000% 3.75%* $7.27
12 month intro rate for max loan amount of $350,000 is 2.900%
450-679 $150,000.00 +1.000% 4.75%* $7.78
12 month intro rate for max loan amount of $150,000 is 3.900%
Apply Now

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