Home Equity Loans
Safe 1 offers Home Equity Loans and Lines of Credit (we call them HomeLines). These loans are ideal for people who want to use the equity in their home for home improvements as well as other large purchases such as autos, appliances, educational needs, etc. We offer two types of Home Equity products, including Fixed-rate second mortgages and HomeLine Plus. Our fixed-rate second offers the advantage of a fixed rate for terms up to 20 years. The HomeLine Plus offers variable rates as low as 4.00%. These programs offer the many benefits of Home Equity Loans as well as the following:
- No Fees
- No Points
- Loan amounts from $25,000 to $100,000
- Borrow up to 80% of appraised value
- Terms from 15 to 25 years depending on the loan type selected
- Usually closes in as little as 10 business days
- Interest on the loan may be tax deductible - consult your tax advisor
- Must be owner-occupied primary residence
Property must be less than 5 acres and located in Kern or Tulare Counties. HomeLine loans are variable rates which may increase or decrease based on changes in the Prime Rate. Fee waiver requires minimum initial disbursement of $10,000 ($ 25,000 on fixed-rate second mortgage) and balance may not decrease below $5000 during the first three years. Annual Percentage Rate (A.P.R.) based on Applicant's credit score, maximum variable A.P.R. 12% to 15%. Minimum variable A.P.R. 4%. For our current rates and fees, contact any Safe 1 Office and ask for our Mortgage Department.
Tehachapi Office
