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Home Equity Line of Credit

Use the equity in your home to finance that home remodel, vacation, or anything that fits your needs with a line of credit.

Account Details

  • Collateral: 1st or 2nd lien on primary residences
  • Monthly interest payments based on what you borrow*
  • 10 year draw period (term)
  • $60 annual fee waived the first year
  • Advance funds through checks, telephone, or online banking

Rate Details

 LTV (Loan to Value) Amount APR (Annual Percentage Rate) Variable Interest Rate Fees
Up to 80% $10,000 to $250,000 4.50% WSJ Prime + 0.25% **

Please contact us at (707) 462-6613 or email at for information regarding line amounts over $250,000.


Interest Rate
Rates shown are effective as of 10/16/2021 and are subject to change without notice. The disclosed APRs are variable and based on the Wall Street Journal Prime Rate (the “Index”) plus a margin (spread). APR may vary and may increase if the index changes. Minimum APR: 4.50% Maximum APR: 17%

Credit Approval
Loans are subject to credit approval.

Insurance requirement
Property insurance required; flood insurance is also required if the property is in a special flood hazard area.

*A Balloon Payment may be due at the end of the 10 year draw period for the remaining balance if only minimum payments are made.

** Savings Bank of Mendocino County will pay up to $519 in closing costs. Should the actual third party fees exceed this amount, you will be required to pay the remaining portion. In addition, if you pay-off and close your Home Equity Line of Credit within 36 months of the credit agreement date, you will pay an Early Closure Fee to reimburse us for third-party fees Savings Bank of Mendocino County paid on your behalf.

As of 1/1/2018, the State of California has imposed a new recording fee for real estate secured transactions. The fee is $75 per recorded document, not to exceed $225. The fee is paid to the County Recorder and will be placed into an affordable housing fund by the state. The fee will not be paid by the Bank.

 Non-Owner Occupied - APR is increased by 1.00% within a min APR of 6.50% and a max APR of 17%. Maximum loan to value on property not to exceed 70%. Term is 60 months with an annual fee of $75. Borrower will pay $450 loan doc fee and is responsible for all third party fees.

NMLS# 472412