Notice: We are currently experiencing intermittent connectivity issues.  Online Banking and Mobile Banking are currently unavailable. Thank you for your patience as we work diligently to resolve this issue.
Notice: Campbell Branch is currently closed due to building maintenance. We apologize for the inconvenience and appreciate your understanding.
Find the nearest branch or ATM.
Notice: Our Gilroy branch is currently experiencing intermittent connectivity issues. Thank you for your patience as we work diligently to resolve this issue.
System Maintenance: On Thursday, February 15th, we’ll be performing a scheduled maintenance starting at 10 p.m. PST and ending at 2 a.m. PST on Friday, February 16th. During this time, Phone Banking will not be available. Thank you for your patience as we update our systems to better serve you.
We’re experiencing technical difficulties with our phone system. We apologize for the inconvenience.
Find the nearest branch or ATM.
County Federal will never call, email or text you to ask for information. Questions? Dial us directly at 800-282-6212 - we’re happy to help.
Find the nearest branch or ATM.
All County Federal offices and branches will be closed on May 27th, in observance of Memorial Day.
Find the nearest branch or ATM.
Are you impacted by the severe weather? Contact us today to apply for our Emergency Relief Loan.

How to Find the Best Rate on a Home Equity Line of Credit

stylized house with us currency in background

Dealing with large, expensive and unexpected repairs is part of homeownership. So is the desire to remodel your home in an effort to improve its appearance, functionality or value. Finding the money to make repairs or begin remodeling projects isn't always easy, however. In cases such as these, one of the best choices you can make is a home equity line of credit (HELOC).

A HELOC allows you to use the equity of your home to finance a revolving line of credit that you can use to fund projects and purchases or pay off debt. As you make payments, the amount of credit you have available is replenished.

While a HELOC is often the best option for homeowners with sufficient equity to qualify, it's important to be able to find the best rate possible. Doing so will save you money that can be spent to improve your home or make other important purchases, rather than simply servicing debt. With that in mind, let's review how to identify the most competitive rates for your home equity line of credit.

Credit Score

There are a few important variables that will help determine what kind of rate you'll qualify for when searching for a HELOC. First, it's important to consider your credit score. Your credit history plays a large role in determining the rates you'll be offered

Home Equity

The amount of equity you have available in your home will also influence both the amount you can borrow and the rate offered. As a general rule, your mortgage and your HELOC combined should not exceed more than 75-85 percent of your home's total value.


Choosing the right lender plays a critical role in securing attractive terms for a HELOC. In many cases, the best rates will be offered by a credit union rather than a bank. Credit unions are not-for-profit organizations and, subsequently, have lower fees and costs. Over the course of a mortgage or a HELOC, these savings can add up significantly.


If you're in the market for a HELOC, pay close attention to the terms of the loan. Is it a fixed rate or variable? Is your rate capped? Are there fees or penalties attached? Once you can answer these questions, you'll be able to make an informed decision

A HELOC is an excellent way to pay for much-needed expenses, but it's important to ensure that you get the best possible deal. Once you've considered all the factors outlined above, you'll be in excellent position to secure a great rate on your HELOC. Fortunately, County Federal has HELOC options to suit your needs. Contact us today to get started.

Back to Articles

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Equal Housing Lender
Certified - CDFI - US Department of the Treasury