Finance it with your home equity line of credit (HELOC)

*APR = Annual Percentage Rate. Rates shown are based on a borrower’s primary residence, FICO credit score 780 or above, a maximum combined loan-to-value (CLTV) of 60%, and the line of credit is in first-lien position.  All loans are subject to approval. Rate, terms, and conditions are subject to change and may vary based on creditworthiness, qualification, and collateral conditions. 

¹The Golden 1 Home Equity Line of Credit (HELOC) is limited to one- to four-family owner-occupied units, vacation properties, and investment properties located in the state of California. Mobile homes are ineligible. Your HELOC application is subject to property valuation. Before your HELOC is funded, all loans secured by your home other than your first mortgage must be paid off. Contact the credit union for terms and conditions for refinancing an existing Golden 1 equity loan or line of credit. Other programs are available.  

Your maximum loan amount will be calculated using the combined loan-to-value (CLTV) of your existing first mortgage principal balance and new second mortgage according to current guidelines. At a 30-year term which includes a 10-year Draw Period and a 20-year Repayment Period, the minimum loan amount is $25,000 and the maximum loan amount is $700,000. The maximum CLTV must be at or below 80%. All programs and maximum CLTVs are subject to change or termination without notice. 

This is a variable-rate line of credit. The Annual Percentage Rate (APR) is based upon The Wall Street Journal Prime Rate index plus a margin. Your rate may increase or decrease based on adjustments to Prime Rate, which could change multiple times during the life of the loan. The APR range is 4% minimum to 18% maximum. 

There is currently no annual fee for your participation in the credit plan under the HELOC Agreement. There are no other fees to open, use, or maintain this account except third party fees, such as property insurance, as required in the HELOC Agreement. Property insurance is required, and flood insurance may be required. An Early Termination Fee of $500 will be assessed if the line of credit is paid in full and closed within three (3) years from the date of opening.

²The introductory fixed-rate Discount Rate is only available for new applications on primary residences and cannot be applied to any other HELOC product or promotion, subject to the general restriction limiting applicants to one primary residence HELOC origination in a single 12-month period, including any refinance. The Discount Rate will apply to balances accrued within the first six billing cycles from the account opening and funding date. After the Introductory Period, your rate will revert to the variable rate calculation as stated in your HELOC Agreement. Not all applicants will qualify for the advertised rate and may be offered higher rates based on creditworthiness, qualification, and collateral conditions. Fixed-Rate Loan Conversions and other discounts are unavailable during the Introductory Period. Golden 1 Credit Union may discontinue introductory-rate discounts without notice at its sole discretion, regardless of originally-advertised offers.

Golden 1 Credit Union is not part of any government agency, nor do we represent or have the endorsement of HUD, FHA, the U.S. Government, or any federal, state, or local government agency. 

All loans subject to approval. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and property conditions. 

*APR = Annual Percentage Rate. Rates shown are based on a borrower’s primary residence, FICO credit score 780 or above, a maximum combined loan-to-value (CLTV) of 60%, and the line of credit is in first-lien position.

¹The Golden 1 Home Equity Line of Credit (HELOC) is limited to one- to four-family owner-occupied units, vacation properties, and investment properties located in the state of California. Mobile homes and non-owner-occupied condominiums and manufactured homes are ineligible. Limit one primary residence HELOC origination in a single 12-month period, including any refinance. Your HELOC application is subject to property valuation. Before your HELOC is funded, all loans secured by your home other than your first mortgage must be paid off. Contact the credit union for terms and conditions for refinancing an existing Golden 1 equity loan or line of credit. Other programs are available.

Your maximum loan amount will be calculated using the combined loan-to-value (CLTV) of your existing first mortgage principal balance and new second mortgage according to current guidelines. At a 30-year term which includes a 10-year Draw Period and a 20-year Repayment Period, the minimum loan amount is $25,000 and the maximum loan amount is $700,000. The maximum CLTV must be at or below 80%. All programs and maximum CLTVs are subject to change or termination without notice.

This is a variable-rate line of credit. The Annual Percentage Rate (APR) is based upon The Wall Street Journal Prime Rate index plus a margin. Your rate may increase or decrease based on adjustments to Prime Rate, which could change multiple times during the life of the loan. The APR range is 4% minimum to 18% maximum.

There is currently no annual fee for your participation in the credit plan under the HELOC Agreement. There are no other fees to open, use, or maintain this account except third party fees, such as property insurance, as required in the HELOC Agreement. Property insurance is required, and flood insurance may be required. An Early Termination Fee of $500 will be assessed if the line of credit is paid in full and closed within three (3) years from the date of opening.

²The introductory fixed-rate Discount Rate is only available for new applications on primary residences and cannot be applied to any other HELOC product or promotion, subject to the general restriction limiting applicants to one primary residence HELOC origination in a single 12-month period, including any refinance. The Discount Rate will apply to balances accrued within the first six billing cycles from the account opening and funding date. After the Introductory Period, your rate will revert to the variable rate calculation as stated in your HELOC Agreement. Not all applicants will qualify for the advertised rate and may be offered higher rates based on creditworthiness, qualification, and collateral conditions. Fixed-Rate Loan Conversions and other discounts are unavailable during the Introductory Period. Golden 1 Credit Union may discontinue introductory-rate discounts without notice at its sole discretion, regardless of originally-advertised offers.

³This option will allow you to convert all or part of your balance to a fixed rate and payment, which will include amortized principal and interest payments for the term you select. You may choose available repayment terms between 5 to 20 years, as long as the term chosen does not exceed the account maturity date. You can only request fixed-rate conversions during your 10-year draw period, with up to five (5) fixed-rate conversions at any one time. The minimum amount for each conversion is $5,000, up to your line of credit limit.

Your fixed-rate APR may increase or decrease your rate. Ask us for our current interest rates before exercising the fixed-rate loan conversion option. There is no fee to process a fixed-rate conversion and your fixed-rate APR will be effective the next business day following the processing of your request. You may choose to unfix the rate, term, and payment on a fixed-rate loan conversion, and convert the remaining balance back to a variable interest rate as originally set in your loan agreement.