Put your hard-earned equity to work.
The equity you’ve built in your home can be a great advantage when it comes to borrowing at a lower rate.
Find My Rate
F&A offers exceptional rates on home equity line of credit and fixed-rate home equity loan options.
Whether you’re planning a remodel, consolidating debt, or funding major life events, our home equity products offer competitive rates and flexible features, empowering you to borrow confidently and affordably.{{heloc}}
Today's Featured Rates
Home Equity Line of Credit
Rate{{rate_home_equity_line_of_credit}}
6.250%
APR{{apr_mortgage}}
6.250%
Points
0.000%
Fixed Home Equity 7 year
Rate{{rate_home_equity_7year}}
5.750%
APR{{apr_mortgage}}
5.750%
Points
0.000%
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit (HELOC) is a revolving credit line secured by your home’s equity. It offers financial flexibility, allowing you to borrow as you need — up to your approved limit — paying interest only on the funds you use.
Key benefits of an F&A HELOC:
- Flexible Access to Funds: Borrow only what you need, when you need it — for home improvements, education expenses, or any unexpected costs.
- Competitive Variable Rates: Enjoy rates that are lower than credit cards or other unsecured loans to lower your monthly payments.
- Interest-Only Payments During the Draw Period: Manage your cash flow with lower initial payments.
- No Prepayment Penalties: Pay off your balance early without extra fees.
- Quick Access: Funds are available via online banking, checks, or by visiting a branch.
Fixed-Rate Home Equity Loan
A Fixed-Rate Home Equity Loan from F&A allows you to borrow a lump sum secured by your home’s equity, with predictable monthly payments for the life of the loan.
Key benefits of an F&A Fixed-Rate Home Equity Loan:
- One-Time Lump Sum: Receive your funds upfront for large projects, debt consolidation, or major expenses.
- Locked-In Rates: Fixed interest rates ensure consistent, predictable monthly payments for easier budgeting.
- Flexible Terms: Choose from several repayment options to fit your budget and goals.
- No Application or Prepayment Penalties: Count on transparent, member-friendly terms.
Have questions first?
Simply fill out the form below, and one of our Mortgage Loan Originators will contact you within one business day. Or give us a call at (800) 222-1226.
Home Equity Inquiry Form
Meet Our Mortgage Loan Originators
David Calvillo
Mortgage Loan Originator
NMLS #1631917
John Martinez
Mortgage Loan Originator
NMLS #239872
FAQs
What states are Second Mortgage loans available in?
F&A FCU can fund Second Mortgage loans in all states where permitted.
Is comparing APRs the best way to decide which lender has the lowest rates and fees?
The Federal Truth in Lending law requires that all financial institutions disclose the APR when they advertise a rate. The APR is designed to present the actual cost of obtaining financing, by requiring that some, but not all, closing fees are included in the APR calculation. These fees in addition to the interest rate determine the estimated cost of financing over the full term of the loan. Since most people do not keep the mortgage for the entire loan term, it may be misleading to spread the effect of some of these up front costs over the entire loan term.
You can use the APR as a guideline to shop for loans but you should not depend solely on the APR in choosing the loan program that's best for you. Look at total fees, possible rate adjustments in the future if you're comparing adjustable rate mortgages, and consider the length of time that you plan on having the mortgage.
Don't forget that the APR is an effective interest rate–not the actual interest rate. Your monthly payments will be based on the actual interest rate, the amount you borrow, and the term of your loan.
Are there any prepayment penalties charged for these loan programs?
None of the loan programs we offer have penalties for prepayment. You can pay off your mortgage at any time with no additional charges.
What is the difference between a Home Equity Loan and a Home Equity Line of Credit?
A Fixed-Rate Home Equity Loan from F&A allows you to borrow a lump sum secured by your home’s equity, with predictable monthly payments for the life of the loan.
A Home Equity Line of Credit offers flexibility for home improvement projects, college expenses, or unexpected expenses. Your payment is calculated on your current balance and is set as an interest only payment for 10yrs. You will be able to access available line of credit for those 10yrs. After this period, your loan will turn into a 15yr full amortized payment.
If I apply, where will the closing take place?
We use a nationwide network of closing agents and attorneys to conduct our loan closings. We'll schedule your closing to take place in a location near your home for your convenience.
We'll deliver our loan documents and wire transfer your loan funds to the closing agent or attorney prior to closing so that they'll have plenty of time to prepare for your closing.