California Home Equity Loans Guide



Knowing more about California Home Equity Loans, it will help you to get the best interest rate.

California is a rich state in U.S. its economy is greater than many economies around the world. The average income of peoples staying in California is around $40,000 per annum. The value of the average home in California is approximately $495,000. If your monthly income more than $3,400, you are able to afford the repayment of these loans.

There are 2 main types of these loans, which are Equity Loan & Equity Line of Credit.

Equity Loan

Home equity loan is a form of credit in which pledge your home serves as collateral. It has a fixed rate option, that means you paying the same interest rate with the balance for whole tenure.

- The loan tenure have 15, 20 or 25 years.

- Minimum amount lend is $30,000, maximum amount goes to $250,000 (the limit is subject to change)

- Borrow up to 75% of the home value.

Equity Line of credit

Equity line of credit is a form of revolving credit in which your home serves as collateral. It featured a period of draw out the money in ten years (you can draw out any amount you want within the loan amount at anytime). Total repayment period up to 30 years.

- Pay the interest only for the first 10 years, adjustable rate

- Open line of credit with flexible, convenient access to your funds

- Credit lines up to $250,000

Both options are designed for different situations, for those who wish to owned their houses for a long period they are likely to take fixed rate. The line of credit is more suitable for investor, most of the investor will sell the property within several years.

For more loan information, please check out

Home Loan instead of California Home Equity Loans

Return to Loan-God Home Page

Return to Loan-God Home Loan

Return to top of the page