Home Equity Lending Solutions
Turn Your Home's Equity into Opportunity
Your home may hold more borrowing power than you realize. Whether you're planning renovations, consolidating higher-interest debt, covering tuition costs, or funding major expenses, Meriwest offers flexible home equity solutions designed to meet your needs. Choose between a Home Equity Line of Credit (HELOC) for ongoing access to funds or a Home Equity Loan for predictable fixed payments
Which Home Equity Option Is Right for You?
Home Equity Line of Credit
Access funds when you need them and borrow only what you use. A HELOC gives you flexibility for ongoing projects, renovations, tuition expenses, or debt consolidation while using your home's equity as collateral.
Highlights
- Revolving line of credit
- Flexible borrowing as needed
- Introductory rate available
- Great for ongoing projects and expenses
Home Equity Loan
Receive a lump sum with predictable monthly payments and fixed-rate terms. A Home Equity Loan is ideal when you know exactly how much you need to borrow and want payment stability.
Highlights
- Fixed interest rate
- Predictable monthly payments
- Terms available up to 20 years
- Ideal for one-time financing needs
| Feature | Home Equity Line of Credit (HELOC) | Home Equity Loan |
|---|---|---|
| Best For | Ongoing for future expenses | One-time large expenses |
| Funds Available | Borrow as needed up to your credit limit | Receive funds in a lump sum |
| Interest Rate | Variable rate after introductory period | Fixed rate |
| Payments | Vary based on balance and rate | Fixed monthly payments |
| Flexibility | Reuse available credit during draw period | Fixed amount borrowed once |
| Common Uses | Home Improvements, emergency expenses, tuition, debt consolidation | Major renovations, debt, consolidation, large purchases |
HELOCs provide revolving access to funds secured by your home's equity, while Home Equity Loans provide a one-time loan amount with fixed payments and terms.
Why Choose Meriwest?
Borrow With Confidence:
- Competitive home equity financing options
- Local service and personalized support
- Fast and convenient application process
- Multiple borrowing solutions tailored to your needs
- Available in California, Arizona, Washington, Oregon, and Nevada
Ready to Put Your Home Equity to Work?
- View Promotional Intro Rate for a HELOC
- Learn more about a Home Equity Loan
- Speak with a Lending Specialist
Are you already a Meriwest Member?
* Please consult with your tax advisor on possible benefits. Offer of credit is subject to credit approval.
Meriwest home equity loans and lines of credit are offered only in the states of California, Arizona, Washington, Oregon and Nevada. Certain restrictions apply. Secured by first or second deed of trust. Collateral property cannot exceed one acre. Property insurance is required.
Membership requires a one-time non-refundable $5 fee.
Join Our Family!
Membership is required for Meriwest products and services. You are eligible to join Meriwest Credit Union if any of the following applies:
- You live, work, worship, or attend school in Alameda, Contra Costa, San Francisco, San Mateo and Santa Clara counties of Northern California, and Pima county of Arizona.
- You are an employee of a participating Meriwest Credit Union member company.
- You are a relative of or reside with a current member of Meriwest Credit Union.
- If you don’t meet any of the requirements above but live in California or Arizona, you can still join Meriwest with a complimentary membership in the Financial Fitness Association. Call 1-877-637-4937 to learn more.
People Usually Ask:
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What is the difference between a HELOC and a home equity loan?
A HELOC is a revolving line of credit that allows you to borrow as needed, while a home equity loan provides a lump sum with fixed monthly payments.
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When should I choose a HELOC?
A HELOC may be a good choice when expenses occur over time, such as home improvement projects completed in phases or ongoing education expenses.
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When should I choose a home equity loan?
A home equity loan may be a good fit when you know the exact amount you need and prefer predictable fixed payments.
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What can I use home equity funds for?
Common uses include home improvements, debt consolidation, tuition expenses, large purchases, and other major financial needs.
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How much can I borrow?
The amount you can borrow depends on factors including your home's equity, credit profile, and loan qualifications.