Real estate loans
Our affordable loan options help you move put your equity to use — or move into your first — or next home.
Camino Federal Credit Union has a wide variety of mortgage programs to choose from. Whether you are a first-time home buyer, or a homeowner looking to refinance your current mortgage or move up to a bigger house, Camino Federal Credit Union has a low-rate home loan to fit your needs and budget.
Click Here to apply online or call (888) 546-6644 for more information.
Home Equity Line of Credit
Our Home Equity Line of Credit options are versatile loans that let you use your equity to remodel, consolidate bills, pay tuition or most anything. Borrow as much or as little as you need, and pay interest only on what you use. You can access your available credit any time by check, Home Banking, SmartLine or by calling or visiting our office.
Tax-advantaged borrowing
Your interest may be tax deductible, so using a HELOC to pay off bills with non-deductible interest such as credit cards, personal loans and auto loans, may give you a nice tax benefit. Consult your tax advisor.
Low introductory rate
We’re offering an introductory rate on our HELOC loans. You'll pay two percent LESS than Prime (or less) for the first three months. View current rates now.
We offer two HELOC options. Choose the one that's best for you. Both offer:
- Up to 90% of equity
- Low introductory rate
- Regular rate as low as Prime
- Up to $200,000
- No fees
1) 3-year fixed intro rate Home Equity Line of Credit
Most lenders offer a 3- or 6-month intro rate. But we don't think that's enough time to get to know each other, so our intro rate lasts three years! That's plenty of time to knock down high-interest credit card bills, add another bathroom, enlarge the kitchen, or use your equity any way you can imagine.
2) Interest-Only Home Equity Line of Credit
Our Interest-Only Home Equity Line of Credit gives you the versatility and convenience of our regular HELOC, but with payments that are dramatically lower. Plus, you may be able to deduct 100% of your Interest-Only HELOC payments. Consult your tax advisor.
3) Fully amortized Home Equity Line of Credit
This fully amortized loan includes principal and interest in all of your monthly payments, which will result in a faster pay down of your loan balance.
Mortgages
You’ve heard ads for "1% mortgages," or loans that let you “choose your payment amount.” Those loans are gimmicks. Borrowers risk negative amortization, where your payment doesn’t cover the interest charges, so you end up owing more and having less equity each month.
At Camino Federal Credit Union, we don’t deal in gimmicks. We simply offer low rates and basic, no-nonsense loans with the value you deserve for one of your biggest financial transactions.
Fixed-rate 15- and 30-year first mortgages
Our knowledgeable and friendly staff will help you determine which option works best for you; the lower payments of a 30-year term, or the lower interest costs, and faster pay-off, of a 15-year loan. Either way, with a fixed rate, your payment will stay the same throughout the life of the loan.
Second mortgages
Our second mortgage lets you use the equity in your home for any purpose. Borrow up to 90% of your home’s value, with terms up to 15 years. The rate is fixed so you never have to worry about your payment increasing.
Call our real estate specialists at 323/ 722-3400 or 800/ 835-3400 for current rates and more information.
