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Home Equity Lines of Credit

Put your greatest asset to work for you by borrowing from the equity in your home. Use the funds for any purpose - home improvements, college tuition, debt consolidation - it's up to you.

 
 
  • Refinance from other lenders to lower your payments or draw cash out
  • Credit lines range from $5,000 to $100,000 (> $100,000 case by case)
  • Access money anytime you need it during the draw period
  • Pay principal and interest each month - 1.25% of the outstanding balance1
  • No points2
  • After the initial 6 month period, the rate will change quarterly by no more than 1% up or down
  • Interest may be tax deductible (please consult a tax advisor)
  • Property insurance requirements

Call (800) 848-5654, option 4  |  Find a branch

 
Rates effective October 31, 2008 APR=Annual Percentage Rate
Introductory APR1 Regular APR1
5.74% 4.00%
See Also
Having financial difficulty? We want to help
 
Open an Island Line of Credit from $1,000 to $50,000 at very competitive rates.

Whether you are buying a home or refinancing, the Island has the right Home Loan for you.
 
 

Terms & Conditions

1 With a new Island Checking account and automatic HELOC payments, the APR is 5.74% for the first six months. Otherwise, the APR is 4.00%. Limited-time offer for a new HELOC on owner-occupied single family homes, condos, or PUDs in San Diego, Orange, and Riverside counties, for up to 80% of home value (less first mortgage). After six months, the rate adjusts to the Regular APR (either 4.00% or the Wall St. Journal Prime Rate - whichever is higher), with quarterly adjustments of up to 1% and a 15% APR lifetime maximum. As of 10/31/08, the Regular APR was 4.00% This rate may vary. Any remaining, unpaid principal balance owed at the end of the 15-year HELOC advance/draw period will result in a single balloon payment. Rates, terms and conditions subject to change. Other financing to 100% of home value may be available. Property insurance is required
 

2 If your HELOC is closed or refinanced within 3 years, a $500 early closure fee is payable at the time of closure. On loans of greater than $100,000, borrower pays all origination costs up-front. Other fees include a $45 reconveyance fee and $30 recording fee.
 

Home must be located in San Diego, Orange or Riverside Counties. Rates, terms, and fees are subject to change. All loans are subject to credit approval. Your overall credit worthiness will determine the interest rate available to you. Fees and charges may apply.