Unlock the equity in your home for a more secure retirement
Reverse Mortgages, or Home Equity Conversion Mortgage (HECM) is a loan insured by the Federal Housing Administration (HECM) for homeowners aged 62 and older.
Key advantages
Increase cash flow
Pay off an existing mortgage, monthly bills, or healthcare expenses to free up more cash. Receive a portion of the home's equity while living in the home with no mortgage payments.
A living inheritance
Help pay for children’s homes or grandkid’s college tuition. Replace taxable withdrawals from 401(k) or other retirement plans with tax-free reverse mortgage proceeds.4
Maximize your investment
Own your home, with full title and control of the property. No repayment is required until the last borrow no longer lives in the home.
Easy access with Digital Banking
Review transactions, access your HELOC, transfer funds, make a payment, and much more using CU SoCal's Online and Mobile Banking.
Learn MoreGet closer to the retirement you deserve
From eliminating your monthly mortgage payment to paying for unexpected expenses, a reverse mortgage, or HECM, can help provide financial flexibility and relieve many of the financial pressures you face in retirement.
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- The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid.
- For certain Golden Equity products only. Excludes Louisiana, New Jersey, & Washington, where the minimum age is 60. Excludes Texas & Utah, where the minimum age is 62. Golden Equity products are only available in select states. Please contact us for a complete list of availability.
- If you are thinking about debt consolidation, you might want to first consult a non-profit credit counselor.
- Not tax advice. Consult a tax professional.This is not a commitment to lend. Prices, guidelines and minimum requirements are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will quality for financing. It is important to make an informed decision when selecting the using a loan product; make sure to compare loan types when making a financing decision.These materials are not for HUD or FHA and were not approved by HUD or a government agency.
NMLS #454788
The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s Website.
Home equity line of credit
| Amount | Max CLTV 1 | Min APR 2 |
|---|---|---|
|
Amount :
Up to $250,000 |
Max CLTV 1 :
80% |
Min APR 2:
7.50% |
|
Amount :
Up to $500,000 |
Max CLTV 1 :
70% |
Min APR 2:
7.75% |
Rates Effective as of: January 22, 2025
1. Combined loan to value (LTV) not to exceed 80% of the appraised property value. Maximum loan amount is subject to credit qualification and appraised property value. Appraisal fees are applicable for HELOCs above $250,000. HELOC is only available on owner-occupied California properties including single-family residences, condominium and two-, three-, or four-unit properties. Properties with construction work in progress may not be eligible. Borrower responsible for payment of property taxes and homeowners insurance. 2. APR=Annual Percentage Rate. Offer available only for new CU SoCal HELOCs or refinanced HELOC from outside lender. Fees may be required for a condominium certification, multi-unit property appraisal and changes to title holder and is subject to change without notice. NMLS#454788
Loan Comparison Calculator
Home equity loan rates
| Amount1 | Term | Max CLTV2 | Rate | Points | APR | EST. Payment per $1,000 |
|---|---|---|---|---|---|---|
|
Amount1
:
Up to $250,000 |
Term:
Up to 15 Years |
Max CLTV2:
75% |
Rate:
7.50% |
Points : 0 |
APR:
7.50% |
EST. Payment per $1,000:
$9.27 |
|
Amount1
:
Up to $250,000 |
Term:
Up to 20 Years |
Max CLTV2:
75% |
Rate:
7.75% |
Points : 0 |
APR:
7.75% |
EST. Payment per $1,000:
$8.21 |
|
Amount1
:
Up to $250,000 |
Term:
Up to 25 Years |
Max CLTV2:
75% |
Rate:
8.00% |
Points : 0 |
APR:
8.00% |
EST. Payment per $1,000:
$7.72 |
|
Amount1
:
Up to $150,000 |
Term:
Up to 15 Years |
Max CLTV2:
80% |
Rate:
7.50% |
Points : 0 |
APR:
7.50% |
EST. Payment per $1,000:
$9.27 |
|
Amount1
:
Up to $150,000 |
Term:
Up to 20 Years |
Max CLTV2:
80% |
Rate:
7.75% |
Points : 0 |
APR:
7.75% |
EST. Payment per $1,000:
$8.21 |
|
Amount1
:
Up to $150,000 |
Term:
Up to 25 Years |
Max CLTV2:
80% |
Rate:
8.00% |
Points : 0 |
APR:
8.00% |
EST. Payment per $1,000:
$7.72 |
Rates Effective as of: January 22, 2025
1. Maximum loan amount subject to credit qualification and appraised property value. 2. Combined Loan-to-Value (CLTV). 3. Payment factor is based on a 15-year term, 20-year term, or 25-year term. The rates and prices quoted above are effective as of 3/6/2024, are not guaranteed and are subject to change without notice. CU SoCal offers a variety of real estate loan programs. For more information, please call a CUSoCal home loan specialist at 800.698.7196.
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