Home Equity Loans California

Tap into your home's equity to access funds when you need them.

Home Equity Lines of Credit

Flexible. Convenient.

Many of our clients find that a Home Equity Line of Credit (HELOC) is a great tool for unplanned expenses or consolidating higher interest rate debt like credit cards or auto loans. They're also ideal when it comes to financing a home remodel or repairs. And if you don't need to draw on the equity line now, that's OK. Enjoy knowing it's there now and when you need it for whatever you decide to use your HELOC account for. Now, we offer even more options with our HELOC Interest-Only and HELOC 360 plans. Read on to learn whether either is right for you.

Benefits of Home Equity Lines of Credit include:  

  • Competitive interest rates. Interest rates are generally lower than other types of credit like credit cards and auto loans.
  • Access to funds. Access available funds during the draw period when you need it by simply writing a check for as little as $300, transferring funds to your Fremont Bank checking account online, or in person at one of our branches.
  • Flexible payments. Make payments only on the portion you use.
  • Potential tax benefits. Interest you pay may be tax deductible, consult your tax adviser for details.
  • Revolving credit line. As you pay down the balance, the available credit line amount becomes available for use again during the Draw Period.

We offer the following HELOC products:  
Home Equity Interest-Only
Home Equity 360
25 Year Term (10-year Draw Period followed by a 15-year Repayment Period) 30 Year Term (10-year Draw Period followed by a 20-year Repayment Period)
Interest-Only payment option during the Draw Period allows greater payment flexibility Monthly amortizing payments comprised of principal and interest during both the Draw and Repayment Periods
Qualifying ratios are more demanding to assure borrowers have the ability to repay the loan Qualifying ratios are more flexible which allows borrowers to have greater purchasing power
Competitive market rates for Interest-Only option on primary residences Primary residence rates are 0.500% lower margin than on our Interest-Only HELOC

If minimum payment is made during 10-year Interest-Only period this product will not build equity; monthly minimum payments cover only the interest

Every payment helps rebuild equity by reducing principal balance

For a limited time we are waiving many fees that are commonly charged:

  • No Application Fee1
  • No Closing Costs1
  • No Set-Up Charge2
  • No Annual Fee For the First 3 Years2
  • Rate Discount With Automatic Loan Payment from a Fremont Bank Personal Checking Account1
Here’s how they work

Your home's equity is typically defined as the difference between the appraised value of your home and the outstanding balance on your first mortgage. You can borrow funds from a portion of the available equity in your home on an as-needed basis. It’s a revolving line of credit so as you repay the amount you’ve borrowed, the funds become available for you to use again during the 10-year Draw Period. If you want, you can pay down your balance without penalty, as long as your account remains open.


After the 10-year Draw Period ends, the Repayment Period will start. During the Repayment Period, your minimum monthly payment will include both principal and interest and will be determined by the payment method under your HELOC plan.


For a Home Equity Interest-Only plan*, if you took a single $10,000 advance at an ANNUAL PERCENTAGE RATE of 4.50% it would take it would take 25 years to pay off the advance if you made only the minimum payments. During the 10-year Draw Period you would make 120 monthly interest-only payments of approximately $37.50, followed by 180 monthly principal and interest payments varying between $93.06 and $55.76 during the 15-year Repayment Period.


For a Home Equity 360 plan, if you took a single $10,000 advance at an ANNUAL PERCENTAGE RATE of 4.00% it would take 30 years to pay off the advance if you made only the minimum payments. During the 10-year Draw Period, you would make 120 monthly principal and interest payments of approximately $47.74, followed by 240 monthly principal and interest payments varying between $47.45 and $46.95 during the 20-year Repayment Period.



Ready to get started?

Consult with one of our local loan agents by calling 866-997-7359.  Find out how easy it is to access your home’s equity.

Offer is valid for applications received January 3, 2017 - June 30, 2017. All home loan programs are subject to credit qualification, income verification, and collateral evaluation. Additional restrictions, limitations and exclusions may apply. Property insurance, may include flood insurance, required. Home Equity Line of Credit features variable rates based on the Prime Rate published each day in The Wall Street Journal Money Rates Table (the "Index"), plus a margin. The APR can change monthly, but will not vary above 18% APR, or below 2.99% APR. The index as of the last date changed on 3/16/2017 is 4.00%. As of 3/16/2017, the variable rate for home equity credit lines of $20,000-$250,000, with a combined-loan-to-value ratio (CLTV) up to 75% range from 4.00% APR to 4.75% APR on an owner-occupied 1-4 family residence. APR includes a 0.50% interest rate discount for maintaining automatic loan payments (ALP) from a Fremont Bank personal checking account3. Higher rates may apply for credit limits below $20,000 or above $250,000, and/or lien position. Rates are subject to change without notice.


We may reduce or suspend your credit limit if any of the conditions that existed at the time your HELOC was opened change significantly, such as the value of your home declines, we reasonably believe you may no longer be able meet the repayment terms, or you default on a material provision of your HELOC agreement.

* Paying the minimum interest only monthly payments will not repay the principal that is outstanding on your line. Your monthly payment may increase, possibly substantially, once your credit line transitions into the repayment period.


1 No Closing Cost Loans are subject to terms and conditions of Fremont Bank's Application Fee Agreement, which lists the specific costs and fees the borrower will not pay. Borrower is responsible for paying all fees and charges imposed by brokers or an existing third party lender (for example, payoff demand statement fee and/or a reconveyance fee) as well as any prepayment penalty imposed by any third party lender or Fremont Bank. Loans with lower nominal interest rates may be available to borrowers willing to pay points and fees.


2 The $250 Application Fee and $95 Set-Up Charge are waived when you apply between January 3, 2017 - June 30, 2017. You may also be required to pay certain fees to open this credit line. These fees generally total between $0 and $900. The $75 Annual Fee is waived for the first three years. After the third (3rd) year, during the Draw Period, you will be required to pay an Annual Fee of $75 for each year the account is open, whether it is used or not. The Annual Fee will not be refunded in whole or in part and will be owed to the bank once it is posted to your account, even if the account is subsequently changed, frozen, closed or terminated for any reason. For credit lines of $25,000 and higher, if you terminate your HELOC account within 36 months of opening it, you will be required to pay an early closure fee of $500 plus any reconveyance and recording fees Fremont Bank paid on your behalf.


3 Discount only applicable as long as payments are set up for automatic deduction from a Fremont Bank personal checking account. Only one automatic payment discount per home equity line of credit will apply. The removal of any discount will increase the rate.

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