Home Equity Line of Credit
Turn your home's equity into opportunity with a Home Equity Line of Credit (HELOC). Access funds when you need them, whether it's for home improvements, tuition, debt consolidation, or more.
Account Details
- Collateral: 1st or 2nd lien on primary residences
- Monthly interest payments based on what you borrow*
- 10 year draw period (term)
- $60 annual fee waived the first year
- Advance funds through checks, telephone, or online banking
Start strong with our low introductory rate!
Get a low 6.50% APR for the first six months. After that, your rate adjusts to the then-current WSJ Prime Rate plus 0.50%.
Rate Details
| LTV (Loan to Value) | Loan Amount | APR (Annual Percentage Rate) (first 6 months) |
APR (annual percentage rate) (remainder of term) |
Fees |
|---|---|---|---|---|
| Up to 80% | $10,000 to $250,000 | 6.50% (Fixed) | 8.00% (WSJ Prime + 0.50%) | ** |
| Up to 70% | $250,001 to $500,000 | 6.50% (Fixed) | 8.00% (WSJ Prime + 0.50%) | ** |
Bonus Savings Tip:
Set up automatic payments from your Savings Bank Checking or Savings Account to save even more!
Let’s get started! Call us at 707-462-6613 or email us at inquiries@savingsbank.com for more information on our Home Equity Line of Credit.
Disclosures
Interest Rate
Rates shown are effective as of 08/25/2025 and are subject to change without notice. The disclosed APRs are variable and based on the Wall Street Journal Prime Rate (the “Index”) plus a margin (spread). APR may vary and may increase if the index changes. Minimum APR: 4.50% Maximum APR: 17%
Credit Approval
Loans are subject to credit approval.
Insurance requirement
Property insurance required; flood insurance is also required if the property is in a special flood hazard area.
*A Balloon Payment may be due at the end of the 10 year draw period for the remaining balance if only minimum payments are made.
** Savings Bank of Mendocino County will pay up to $675 in closing costs. Should the actual third party fees exceed this amount, you will be required to pay the remaining portion. In addition, if you pay-off and close your Home Equity Line of Credit within 36 months of the credit agreement date, you will pay an Early Closure Fee to reimburse us for third-party fees Savings Bank of Mendocino County paid on your behalf.
Non-Owner Occupied – APR is based on WSJ Prime + 1.50% with a min APR of 6.50% and a max APR of 17%. Maximum loan to value on property not to exceed 70%. Term is 60 months with an annual fee of $75. Borrower will pay $450 loan doc fee and is responsible for all third party fees. 6.50% introductory rate does not apply.
NMLS# 472412