LOS ANGELES, Calif., April 2, 2021 (SEND2PRESS NEWSWIRE) — South Bay Credit Union – Member-owned not-for-profit financial cooperative, today announced the launch of a limited time offer on their Home Equity Line of Credit (HELOC) program to homeowners in the South Bay Los Angeles Area.
Homeowners can borrow up to $500,000! (or 80% of appraised value, less 1st Trust Deed, owner-occupied). Borrow what you need when you need it, and as you repay your principle that money becomes available to borrow over and over again. The interest on a HELOC may even be tax deductible (check with your tax advisor for details).
“The goal with our HELOC program is to help our members access funds through equity available in their property,” says David Ellings, CLO. “With mortgage rates steadily increasing, and it is becoming more difficult for homeowners to refinance due to outcomes from the Pandemic and other life circumstances, a HELOC could really help our members pay off high-rate interest credit cards or other loans, buy a car, take a well needed vacation, or just gain peace of mind with funds available for a rainy day.”
This limited time offer is available from April 1 through July 31, 2021 and includes:
- NO interest for 6 months
- Low Rates
- One-time fee of $300
- NO annual maintenance fee
- 10-year interest-only payments (draw period)
- Terms up to 25 years
To learn more visit: https://www.southbaycu.com/heloc/.
About South Bay Credit Union:
Established in 1953, South Bay Credit Union is a member-owned not-for-profit financial cooperative proudly serving anyone who lives, regularly works, attends school or worships in the area known as South Bay in Los Angeles County, California. Their mission is to uplift communities by empowering their members to live better and do better. Members own the Credit Union, not shareholders. That means, all the profits that they bring in go right back out to their members in the form of dividends, rebates and lowered interest rates. And they do it with a warm smile and a happy heart.
VIDEO “Do you know what a HELOC is” – https://youtu.be/L0XUzB-c5Jk
MEDIA CONTACT:
David Ellings, CLO
South Bay Credit Union – NMLS # 449361
P: 424-327-9790
E: dellings@southbaycu.com
News Source: South Bay Credit Union