HELOC Flex
Renovate your home, not your wallet.
Looking to do a Home Renovation Project?
Our HELOC Flex offers flexibility to upgrade your home in the ways that are the most meaningful to you!
12-Month Introductory Rate
6.49% APR*
Rate After 12-Month Introductory Period
8.00% - 9.50% APR*
Home Equity Line of Credit
A Home Equity Line of Credit (HELOC) is a great way to help tackle projects and expenses big and small. Remodel your kitchen or bathroom, or create a new addition to your home-the possibilities are endless. You can also use your equity to pay off higher interest rate debt or cover unexpected expenses as they arise. You can tap into your home’s equity with a HELOC Flex loan, which has a flexible interest rate to help you make the most of your money.
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Build a new deck or remodel your kitchen like you've always dreamed
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Add value to your home for the future
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Flexible options to lock in your rate*
Home Loans for California
If you would like a Bay Federal Home Loan Consult to contact you, please complete and submit the following information. Please know we can only assist with home purchases or refinances in the state of California.
*6.49% 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 6.49% during the 12-month Introductory Period. After the 12-month 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 December 20, 2024, the variable APR for Home Equity Lines of Credit ranged from 8.00% APR to 9.50% 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.