Equity built over time. Ready when you are.
Your home has been quietly building value. A Bay Federal HELOC lets you access that equity, without touching your existing mortgage. And Bay Federal covers your closing costs.*
Home Equity Lines of Credit (HELOC)
Choose Your Introductory Period
Enjoy the flexibility to upgrade your home in the ways that are the most meaningful to you! Start at a low intro rate, then continue at a competitive variable rate. Lock in portions at any time.
6-Month Introductory Rate
Best if you plan to draw on funds quickly and want the lowest possible starting rate.
12-Month Introductory Rate
More time at a low rate! Ideal if your project will need funds that span the year ahead.
Rate After Introductory Period
Variable rate adjusts with the market after your intro period ends. Lock in portions at a fixed rate anytime!
A flexible way to access the value you've built.
If you've owned your home for a while, you've likely built up equity — and a HELOC is one of the most flexible ways to put it to work. Unlike a refinance, a HELOC is a second product that sits alongside your existing mortgage, leaving your current rate untouched.
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Get Approved for a Home Equity Line
Apply online or with a Home Loan Specialist. We work with you to determine your line amount up to $400,000, based on your available equity, credit, and goals.
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Draw What You Need, When You Need It
During the 10-year draw period, access funds at any time — all at once or gradually. Interest-only payments on what you've actually drawn keep monthly obligations low.
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Repay Over Time
After the draw period, repay the remaining balance with principal and interest over 15 years. You can also lock in portions of your balance at a fixed rate along the way.
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Bay Federal Covers Closing Costs
Typically $750 to $2,500 with other lenders.
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Keep Your Existing Mortgage Rate
Access your home's equity without refinancing your first mortgage.
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No Draw Required at Closing
Open your credit line now and use it when you're ready!
Your equity. Your goals.
There's no single right way to use a HELOC. Here are some of the most common ways Bay Federal members put their home equity to work.
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Home Renovation and Expansion
Remodel your kitchen, add a bathroom, build an ADU, or take on a long-overdue project. A HELOC lets you fund improvements as work unfolds; draw what you need, when you need it, rather than taking a lump sum upfront.
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Debt Consolidation
Roll higher-interest debt into a lower-rate HELOC to simplify your monthly payments and reduce what you're paying in interest overall. Many members find the flexible repayment structure easier to manage than multiple accounts.
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Financial Safety Net
You don't have to draw on a HELOC the day you open it. Many members keep one available as a backstop for unexpected expenses, medical costs, or life's bigger moments. You only pay interest on what you actually use.
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Education & Major Expenses
Cover tuition, a major life event, or other planned expenses with a flexible line that lets you borrow incrementally rather than all at once.
Questions? We're ready!
A Bay Federal Home Loan Consultant can walk you through your options, estimate what you may qualify for, and help you decide whether a HELOC is the right fit for your goals. No obligation, just a conversation.
Fill out the form below and we will be in touch!
We can only assist with home loans in the state of California.
*2.99% Introductory Annual Percentage Rate (APR) for 6-months or 4.99% for 12-months Introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit with up to 80% combined loan-to-value (CLTV) or less. The introductory APR will be fixed at 2.99 during the 6-month Introductory Period or 4.99% during the 12-month Introductory Period. After the Introductory Period, the APR is variable and is based upon an Index plus a margin. The Index is the “Prime Rate” as published in the “Money Rates” section of the online edition of the Wall Street Journal on the first day of the billing cycle. Eligible Lines of Credit loan amounts up to $400,000. As of March 01, 2026, the variable APR for Home Equity Lines of Credit ranged from 7.00% APR to 8.50% APR, depending on your credit score (the lowest APR disclosed includes any applicable rate discounts). The maximum APR during the term of the plan is 18.00%. The maximum loan amount is $400,000. An estimate of the fees imposed for opening the plan are $750 to $2500. However, these fees will be waived and/or paid by the Credit Union provided that our security interest in your home is maintained for at least 36 consecutive months from the date the HELOC account is opened. Otherwise, you must reimburse the Credit Union for these waived and/or paid fees. During the Draw Period, you may convert the variable interest rate and repayment schedule on a portion of your outstanding balance to a fixed rate and repayment schedule (subject to the terms and conditions set forth in the Home Equity Line of Credit Agreement). Each time you fix a portion of your loan balance, you will be assessed a charge of $50.00. Only three (3) fixed-rate options may exist at any one time.
Loans are subject to credit approval and program guidelines. Interest rates and programs terms are subject to change without notice. Property insurance is required. Other restrictions may apply. Bay Federal Credit Union membership required at the time of closing. For more information, visit any Bay Federal Credit Union branch or call a Bay Federal Home Loan Consultant at 831.479.6000 or toll-free at 888.4BAYFED, ext. 8304.