Home Equity Line of Credit
Benefits of HELOC
- Borrow up to 95% of your combined loan-to-value
- No annual fees
- The minimum loan amount is $25,000
- Instant, convenient, online access to your funds
- Interest may be tax-deductible (consult with your tax advisor)
Two great HELOC options
SPECIAL INTRODUCTORY RATE
5.99% APR*
for the first 12 months
Mortgage loan originator and servicer information
- Mortgage loan originator information about Mortgage loan originator information
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires credit union mortgage loan originators and their employing institutions to register with the Nationwide Mortgage Licensing System & Registry (NMLS).
Each employee of a credit union who acts as a mortgage loan originator must register with the Registry, obtain a unique identifier, and maintain this registration following the requirements of the SAFE Act.
Below are the registered mortgage loan originators of University Credit Union, NMLS #409731.- Merisa Gates - NMLS ID #188870
- Estela Nagahashi - NMLS ID #1699957
- Miguel Olivares - NMLS ID #2068660
- Michelle Pacheco - NMLS ID #662822
- Britini Pender - NMLS ID #694308
- Sheri Sicka - NMLS ID #809498
- Elizabeth Torres - NMLS ID #1757889
- David L. Tuyo II - NMLS ID #1152000
One of the objectives of the SAFE Act is to provide consumers with easily accessible information at no charge regarding mortgage loan originators. You may access information at www.nmlsconsumeraccess.org
- Mortgage loan servicing information about Mortgage loan servicing information
Requests for information, requests for resolution of an error, or errors in connection with an existing Home Equity Line of Credit (HELOC) or Second Mortgage loan must be made in writing and forwarded via the U.S. mail to the following address:
University Credit Union
Real Estate Department
1500 S. Sepulveda Blvd.
Los Angeles, CA 90025
HELOC and Second Mortgage payments sent via U.S. mail should be addressed to:University Credit Union
PO Box 25356
Los Angeles, CA 90025Contact University Credit Union:
424.320.4686 or
855.564.68289 am - 5 pm PST, Monday through Friday
Real Estate Department's Fax Number:424.320.4639
Frequently asked questions
- What is a UCU HELOC? Click On What is a UCU HELOC? A HELOC is a revolving credit line secured by the equity you’ve built in your home. University Credit Union offers 10-year HELOCs with 15-year or 20-year repayment periods. Check our rates and apply today. Learn more
- How does a HELOC work? Click On How does a HELOC work? When applying for a HELOC, UCU reviews your home equity and credit and sets a borrowing limit. You can draw against your limit at any time. You’ll make regular payments, freeing up more credit over time. Learn more
- What are the requirements for a UCU HELOC? Click On What are the requirements for a UCU HELOC? UCU requires HELOC applicants to have a debt-to-income ratio (DTI) less than or equal to 43%, a credit score of at least 620, and a home value of at least 20% more than you owe on your mortgage.
- How much can I borrow with a UCU HELOC? Click On How much can I borrow with a UCU HELOC? The amount you borrow with a HELOC can vary. At UCU, you can borrow up to 80% of the equity in your home. Remember, you’ll add a new monthly bill to your debt, so use our helpful tools to run the numbers first. Learn more
- What can I use my UCU HELOC funds for? Click On What can I use my UCU HELOC funds for? A University Credit Union HELOC is an intelligent source of cash for whatever you need. Use your equity for debt consolidation, home improvement projects or repairs, a vacation, tuition, or as an emergency fund. Develop a better understanding of your financial wellness through HELOC. Learn more
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University Credit Union offers membership to employees, students and alumni of UCLA, Pepperdine University, Loyola Marymount University, Santa Clara University, Saint Mary's College, UC Irvine, UC Davis, UC San Diego, Georgia Tech, University of Texas at Arlington, Mount St. Mary's University, Chabot College and Las Positas College, West Coast Conference Universities, The Big West Universities, Western Athletic Conference Universities, Southland Conference Universities, and other universities throughout California. UCU offers a variety of products and services including checking accounts, credit cards, home mortgages, auto loans, personal loans, commercial loans, insurance, investments, as well as digital banking.
*APR = Annual Percentage Rate. Introductory rate good for 12 months from date of closing. This special introductory rate is subject to change or end at any time without notice. Rate may change based on the index which is the Prime Rate as regularly published in the "Money Rates Table" of the Wall Street Journal. The current index for this quarter as of 9/19/2024 is 8.00%. Corresponding variable APRs range from a minimum of 7.50% to a maximum of 17.99%. Rate is subject to change quarterly. Interest-only payments apply to Home Equity Lines of Credit with a maximum 80% combined loan-to-value and during draw period only. Minimum Credit Limit $25,000. Minimum Loan Amount $25,000. Minimum payment during the draw period is equal to the finance charges (interest) that accrued on the outstanding balance during the preceding billing period. Closing costs may range from $700 to $1,500. No annual or advance fees charged on HELOCs. All loans listed are available on primary member residences and secured by a first or second mortgage lien on your home which must be single-family, owner-occupied detached dwellings, condos, or townhouses. Other restrictions may apply. Flood and /or property hazard insurance may be required. All Credit Union loan programs, rates, terms and conditions are subject to change at any time without notice. Loans issued subject to credit review and other qualifying conditions, not all applicants will qualify.