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Home Equity Loans & Lines of Credit


Returning Applicant?

You’ve cared for your California home, so make it work for you! KeyPoint Credit Union offers home equity loans and lines of credit that empower you to achieve your life’s goals.

  • Finance additional home improvements to add value to your property
  • Pay medical expenses
  • Finance a college education
    • Products
    • Loan Subordination 
    • Rates

Home Equity Loan

  • KeyPoint offers a fixed rate so you can budget confidently
  • Pay no fees on any new home equity loan up to $500,0001
  • Terms available up to 30 years
  • Potential tax advantages (please consult your tax advisor)
  • View our competitive rates

Home Equity Line of Credit

  • Enjoy the flexibility of this line of credit by choosing a low, fixed rate for the first 6 months, 3, 5 or 7 years
  • After the initial fixed period, you receive a variable rate as low as Prime2
  • Pay no fees on lines of credit up to $500,0001
  • View our competitive rates

Finish Line Loan

Here’s How You’ll Save Money with a Finish Line Loan

Note: These examples are for illustrative purposes only. All figures are based on a $100,000 loan with a start date of April 1, 2014. Actual payments and interest may vary.
Finish Line Loan Payment and Payoff Examples
How quickly can you pay off your home?
Fixed Term Period 7 Years 10 Years 15 Years 30 Years
FREE AND CLEAR DATE! 2020 2023 2028 2043
Annual Percentage Rate 3.375% 3.375% 3.375% 4.24%
Monthly Payment Amount $1,338.35 $983.08 $708.85 $751.74
Total of Payments Over the Term $112,420.82 $117,969.49 $127,591.23 $135,312.43

Start saving more money while getting more enjoyment out of your California home. Apply online for your home equity loan or line of credit, or call (888) 255-3637 to apply over the phone. Please contact us if you have any questions.

No Fee Disclosures

  1. "No fee" offer valid only on new loans and lines of credit; not valid on refinances of existing KeyPoint debt. For a limited time, pay no fees to establish a Home Equity Loan or Line up to $500,000. However, if you pay off the loan within 36 months, you will pay a $350 early closing fee on loan amounts up to $250,000 or $1,000 if the loan amount is over $250,000. Fees to establish equity loans and lines over $500,000 typically range from $1,325 to $2,500. No annual fee.

Home Equity Disclosures

  1. Credit Union membership is required. Equity loans and lines available on owner-occupied single-family California residences. Townhome, condo and 2-4 unit property loans available on different terms. All APRs quoted are accurate as of 4/18/14 and subject to change, our best available rates require (a) $20,000 loan or advance at closing; (b) 75% or better loan-to-value (LTV) ratio, and (c) automatic loan payments. Other rate discounts not available. Loans and Lines are available with higher LTV ratios at higher APR's. Ask for details. All loans require credit approval. Fixed Equity Loan APR may be higher depending on LTV ratio, credit profile, payment method and other factors we may lawfully consider and will be disclosed in writing before you become obligated. 20-Year term is available on loan amounts of $50,000 or more. 30-Year term is available on loan amounts of $150,000 or more. As of 4/18/14, introductory rates from 3.49% to 7.00% are available to qualified applicants. Introductory rate will depend on introductory rate term selected (6 months, 3 years, 5 years or 7 years) and borrower maintaining automatic loan payments. Not all approved applicants will qualify for a fixed introductory rate offer. Following introductory rate period, rate is variable. Variable rate formula offered will depend on credit history, loan-to-value ratio and other factors we may lawfully consider. As of 4/18/14, variable APRs ranged from 3.99% to 5.50%. Lifetime maximum variable APR 16%. Lifetime Minimum variable APR 3.99%. Six-month introductory rate not available on purchase money equity line. Rate and terms subject to change without notice. Some restrictions apply. Consult your tax advisor regarding deductibility of interest. KeyPoint Credit Union provides home equity loans to San Jose, Sacramento, Santa Barbara and the Bay Area.

Finish Line Loan Disclosure

Home refinancing offered at fixed rates of 3.375% to 6.74% APR as of 4/18/14 based on creditworthiness, loan-to-value ratio and other factors. Offered rates subject to change. Featured rate of 3.375% requires 75% LTV or less, and excellent credit and automatic loan payments. Pay $9.84 per month per $1,000 borrowed at 3.375% APR for 120 months. If you pay off and close the loan within 36 months, an early closing fee of $350 applies to lines up to $250,000 or $1000 to loans from $250,000–$500,000.

Subordination is a plan that can save you time and money if you have a KeyPoint Credit Union home equity loan or line of credit and you want to refinance your first mortgage. Refinancing your first mortgage doesn’t mean you have to pay off and close your KeyPoint Credit Union home equity loan or line of credit. Rather, you may be able to subordinate your home equity loan or line of credit.

The Relationship between First and Second Mortgages:

  • A first mortgage is a financial lien against your home. It is in the "first" position – that is, the first loan to be paid when you sell or refinance. 
  • A second mortgage – such as a home equity loan or line of credit – is in the "second position." Normally, once you pay off your first mortgage, the second mortgage lender moves into "first" position. 
  • Paying off the first mortgage (which you would do with a refinance) does not automatically pay off the "second" position loans. Therefore, homeowners often roll the payoff of their home equity loan (second mortgage) into the amount they refinance, which means that refinanced amount includes a payoff for the second mortgage. 
  • An alternative to paying off your Home Equity Loan or Line is to request a subordination agreement. This means you will refinance only your first mortgage, and KeyPoint Credit Union agrees to remain in the “second” lien position after the refinance is completed. 
  • This agreement allows the lender that refinances your first mortgage to assume “first” lien position on your title. 
  • If you qualify, you are able to refinance your mortgage and keep your home equity loan or line of credit open. This offers you several advantages. 

How Subordination Benefits You:

  • Maintain your low home equity loan rate and don’t exchange it for a higher rate that might apply to your mortgage refinance. 
  • Avoid fees that may be required if you pay off your equity loan or line of credit early. 
  • Avoid potential fees required to establish a new home equity loan or line of credit. 

What You’ll Need to Subordinate Your Home Equity Loan or Line:

  • The documents that KeyPoint Credit Union needs to review for a subordination request are the same ones you have to fill out to apply for your mortgage refinance. 
  • KeyPoint Credit Union will review these documents and determines if subordination is a good option for you. 
  • We can usually let you know within 10 days after we receive the necessary papers that you have been approved for subordination. 
  • Your first mortgage loan officer should be familiar with subordinations and can speed your subordination request by sending us the documents we need. 
Download our Subordination Request Checklist and get started today.

ALL LOANS SUBJECT TO CREDIT APPROVAL. RATE IS BASED ON CREDITWORTHINESS AND OTHER FACTORS, AND MAY BE HIGHER THAN THE RATE SHOWN. RATES AND TERMS SUBJECT TO CHANGE WITHOUT NOTICE.



Home Equity Loan
Rates Effective: 4/18/14
Terms1st Position Annual Percentage Rate2nd Position Annual Percentage RatePoints and Fees**
20 - 30 YearsAs low as 4.24%As low as 5.49%0
Home Equity Line of Credit
Rates Effective: 4/18/14
Introductory Period for Fixed RateIntroductory 1st Position Annual Percentage RateIntroductory 2nd Position Annual Percentage RateAfter Introductory Period, Prime Rate Plus 0% Annual Percentage Rate*Points and Fees**
6 MonthsAs low as 3.49%As low as 3.49%Floor of 3.99%0
3 YearsAs low as 3.74%As low as 3.99%Floor of 3.99%0
5 YearsAs low as 4.25%As low as 4.50%Floor of 3.99%0
7 YearsAs low as 5.50%As low as 5.75%Floor of 3.99%0

Equity loans and lines available for owner-occupied single-family California residences. Loans for townhouses, condominiums and 2-unit properties are available with different terms. The lowest rates as shown require (a) $20,000 loan or advance at closing; (b) 75% or better loan to value (LTV) ratio; and (c) automatic loan payments. Six-month introductory rate not available on Lines of Credit used as purchase money. No annual fee.

20-year term is available on loan amounts of $50,000 or more. 30-year term is available on loan amounts of $150,000 or more. Payment example: 360 monthly payments of $4.92 per $1,000 borrowed at 4.24% APR.

*Rate is variable, based on Prime Rate as published in The Wall Street Journal Money Rates Table (the \"Index\"), with a floor of 3.99% and a lifetime maximum variable APR of 16.00%.

**Zero (0) points and fees are available only on new loans and lines of credit, and are not available for refinances of existing KeyPoint loans. For a limited time, pay no fees to establish a Home Equity Loan or Line up to $500,000. Important Note: If you pay off the loan within 36 months, you will pay a $350 early closing fee on loan amounts up to $250,000, or $1,000 fee on loan amounts over $250,000. Fees to establish equity loans and lines over $500,000 typically range from $1,325 to $2,500.

Minimum loan amount is $20,000.

Finish Line Loan Rates
Rates Effective: 4/18/14
Fixed Term Period7-Year Term10-Year Term15-Year Term30-Year Term
Annual Percentage Rate3.375%3.375%3.375%4.24%
Monthly Payment Amount$1,320.95$965.23$690.19$751.74
Total of Payments Over the Term$110,959.32$115,826.77$124,233.40$135,312.43

All figures are based upon a $100,000 loan with a start date of 4/18/14. These examples are purely for illustrative purposes. Actual payments and interest will vary.

Finish Line Loan Disclosures:

Home refinancing offered at fixed rates of 3.375% to 6.74% APR as of 4/18/14 based on creditworthiness, loan-to-value ratio and other factors. Offered rates subject to change. Featured rate of 3.375% requires 75% LTV or less, and excellent credit and automatic loan payments. Pay $9.84 per month per $1,000 borrowed at 3.375% APR for 120 months. If you pay off and close the loan within 36 months, an early closing fee of $350 applies to lines up to $250,000 or $1000 to loans from $250,000–$500,000.

Refinance of KeyPoint Real Estate Secured loans and lines do not qualify for the No Point, No Fee, No Closing cost program.