Home sweet home financing.

There's nothing better than buying your own home. Whether it’s a “handyman's special” or move-in ready, your home is where the heart is.

For information on purchases, refinances and 1st time buyer programs, visit the AFTRA-SAG FCU Mortgage Center or call toll-free 1-888-3-AFTRA-SAG (1-888-323-8727).

Making Home Affordable is the federal government's plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels. The website provides homeowners with detailed information about these programs along with self-assessment tools and calculators to empower borrowers with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration's program.

Let your home work for you.

When the “honey-do” list gets too long, your Home Equity Line of Credit is ready to help. Based on the equity you have in your home, a HELOC is like money in the bank. Set it up now and use it when you’re ready. You’ll have peace of mind knowing it’s there, and peace of wallet knowing it accumulates no interest charges and no fees until you access the credit limit.

A Home Equity Line of Credit offers these great features:

  • No points, no origination fees, no application fees*
  • No annual fees, transaction fees or prepayment penalties
  • Borrow up to 80% of your home's value, inclusive of all liens
  • Minimum interest-only payments (a balloon payment at maturity may result)
  • Variable Rate tied to Prime Rate
  • Loan amounts up to $400,000.00 on 1st lien and $250,000.00 on 2nd lien
  • Interest may be tax deductible (consult your tax advisor)
  • Most pre-approvals within 48 hours

Print and complete a Home Equity Line of Credit Loan Application

Please include the following with your completed application:

  1. Copy of your last statement showing balance of loan from 1st mortgage and the outstanding balance on any other subordinate lien loan(s)
  2. Evidence of two (2) years annual income, for example, your most recent W2 or federal tax return
  3. If your home is held in a Trust, please include a copy of your Trust document
* Fees waived up to $700 provided you maintain your HELOC for at least 36 months.

Important notes:

  • Property must be located in California
  • Property must be free of liens other than your 1st mortgage
  • Must be owner-occupied single family residence or condominiums; second homes may be eligible
  • A HELOC may not be in 2nd position behind a negative amortizing first lien, a Cal Vet, or VA loan
  • Refer to the HELOC Program Disclosure for detailed information

For more helpful information, view What You Should Know About Home Equity Lines of Credit published by The Federal Reserve Board.

Looking for help to understand the wise use of credit or locate a caring, certified counselor?
DebtAdvice.org is a service provided by the members of the National Foundation for Credit Counseling (NFCC), most of them known as Consumer Credit Counseling Service (CCCS).