Equity VISA GOLD Loan

This loan is secured with the equity in your home. It allows you to borrow against the equity in your home, usually at a lower interest rate than a consumer loan. You must be 18 years of age or older, meet SPCU’s loan qualification criteria and are able to offer a home as security for the loan.

Loan Features:

Line of credit with easy access through a VISA GOLD card and convenience checks
Variable rate interest; rates change 2 times per year
2% Annual cap and lifetime loan rate cap of 14.0% APR
Introductory low rate of 7% APR during the six month intro period
You may borrow up to 80% of your appraised value less any 1st mortgage balance or other liens
Revolving line of credit
NO appraisal or application fee - pay only escrow & $20 flood fee
Minimum line of credit is $10,000, Maximum line of credit $100,000
Monthly low payments equal to 1.50% of your balance, min of $50

Some tax advantages may apply to your home equity loan – you may be able to deduct interest paid (you should check with your tax attorney or accountant).

Many consumers consolidate high interest credit cards and unsecured loans into a Home Equity Loan to reduce monthly payments, interest paid and to take advantage of huge tax savings. Others use this line of credit to finance their children's college costs or purchase a new vehicle.

Call us at (650) 588-6140, then press 3 or apply on-line