San Mateo Credit Union (SMCU) is providing this link to an external website because it may contain related information of interest to you or the website is one of our partners. You are leaving the SMCU to a website that is not operated by the credit union and is not responsible for the content. SMCU does not represent either the third party (external website) or the member if the two enter into a transaction. The privacy and security policies may differ from those practiced by SMCU. Click “Continue” to go to the website or cancel to remain on the SMCU website.
Phone Scam Alert: We have reason to believe our members are receiving calls with our Caller ID. Caller ID can be easily spoofed. If you receive a phone call claiming to be from SMCU asking you to verify account information, do not reply or provide any information. SMCU will never call or text to ask you to verify information about your card such as your PIN or a code. To verify, call us directly. Learn more on how you can protect yourself from scams.
The equity you've built in your home can be the engine that powers your next dream, whether it's a remodel or addition, a trip, a vehicle purchase, paying off debt, or virtually anything else. Like any engine, you'll need to get it started. For that, there's nothing better than a home equity loan or line of credit from San Mateo Credit Union. Plus, the interest you pay on home equity loans/lines may be tax-deductible.1
Rate and monthly payment are fixed and do not change throughout the life of the loan.
Rates currently start as low as 7.250% APR2 for the 5-year term.
Rate may increase or decrease when the Prime Rate changes. The monthly payment will depend on your balance.
Rates currently start as low as 7.750% APR.3
1. Consult your tax advisor.
2. APR = Annual Percentage Rate. Rates and terms shown are accurate as of 01/30/2023, and apply to a Home Equity Loan for the most qualified applicant at the CLTV shown. Rates vary for second or vacation homes. Home Equity Loans are only available in California on owner occupied and vacation or second homes.
APR = Annual Percentage Rate. Rates and terms shown are accurate as of 01/30/2023, and apply to a Home Equity Line for the most qualified applicant at the CLTV shown. Rates vary for second or vacation homes. Home Equity Lines of Credit are only available in California on owner occupied and vacation or second homes.
3. The minimum periodic payment for line of credit is interest-only for the first ten years ('draw period') followed by fully-amortizing payments to repay the balance over the final fifteen years. No draws will be allowed during the repayment period. Payments and rate can adjust monthly. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest.
Line of credit rate is calculated using an index plus a margin. The index used is the Prime Rate as published in the Wall Street Journal Western Edition on the last business day of the month prior to the change. The current prime index is 7.50%. The minimum credit line amount is $25,000 and the maximum is $400,000. SMCU will pay customary closing costs on lines up to $250,000 in second lien position. Borrower is responsible for closing costs on lines in first lien position or over $250,000 and any escrow fees resulting from changes to title. Borrower is responsible for closing costs on a line of credit in first lien position and investment properties.
A new look for us means better experience for you. Our redesigned site makes it easy to find what you need and it looks great on desktop and mobile.
Access to your account is only a couple clicks away. To log in, click the Login button at the top of any page, then enter your user name and password, which have not changed.
Find loans, accounts, credit cards, digital banking, and much more – all in fewer clicks. Explore the top navigation and go directly to popular pages using “Quick Links”
Find answers fast using our convenient search tool. Just submit your question to get a full range of results found within our site.
Choose a financial milestone on the homepage to read online educational materials, plan for related events, check out products and helpful resources, and more.
From useful calculators to online financial education courses to security tips, SMCU has an entire section dedicated to keeping you financially fit.