Home Equity Line of Credit
Home Equity Line of Credit
The home equity line of credit that lets you lock in your rate—up to 5 times.
Home projects. Big plans. Unexpected expenses. With HELOC FlexLine, you can borrow against your home’s equity with a flexible line of credit—and when you want more payment certainty, you can lock in a fixed rate on up to five different portions of your balance.
Flex when you need it.1 Fix when you want it.2
Today’s Rate1
6.74-8.74%
Variable Rate, Indexed to Prime Rate
Why Members Choose HELOC FlexLine
Fixed-rate Peace of Mind²
No Fee Option.3
Up to 90% Financing.4
Affordable & Accessible:
Lines of credit from $25,000 to $400,000 are available on first homes, vacation or second homes and manufactured homes.5 For loans up to $250,000, enjoy a no fee option with no closing costs3 and up to 90% maximum combined loan-to-value financing.4
Big Dreams, Smart Financing:
Perfect for big-ticket projects like home renovations, debt consolidation, or education costs, or a long-awaited vacation. Get the funds you need with a structure that fits your strategic financial goals and dreams.
Predictable Payments:
Need rate protection? Convert part of your balance into a fixed-rate segment—with up to five segments any time during the draw period ($5,000 minimum per segment).2 Otherwise, the variable rate is indexed to Prime rate, with a floor of 4% APR, and a lifetime rate cap of 18% APR.1
Generous Repayment Period:
Access your available funds during a 10-year draw period, then repay over 20 years. Fixed-rate portions can be established for payoff periods ranging from 5 to 20 years2. There are no prepayment penalties or minimum advance requirements.
The SESLOC Advantage
Friendly, Community-focused service:
At SESLOC, you are more than just a number, you are family.
Built on eight decades of trust and stability:
We have been the local’s top choice for banking and lending since 1942.
Fast Pre-Approvals:
With our quick and simple online application, get a fast decision.
Enjoy Complimentary Checks:
Get simple, convenient access to your funds when you request and use checks linked to a SESLOC checking account. It’s a great option for paying contractors or other vendors for home remodeling projects. Or, you can quickly make transfers to a SESLOC checking account or other financial institution in SESLOC Online Banking—anytime, anywhere.
How HELOC FlexLine Works
Speed Summary!
- Apply for a HELOC FlexLine. Once approved, you may draw funds as needed, up to your maximum limit.
- When you’re ready to stabilize payments, choose a portion of your balance ($5,000 minimum) to convert into a fixed-rate segment. Then, choose to fix the rate for 5, 7, 10, 15 or 20 year terms, not to exceed your loan maturity.2 You can request a “Fixed Rate Segment” in SESLOC Online Banking or any branch. See today’s HELOC FlexLine rates for each term »
- You can repeat this up to five times during the draw period, creating up to five fixed-rate segments alongside your regular variable-rate balance (if any).
- Keep borrowing from your variable rate available line for new needs, while your locked portions stay fixed.
- Your monthly HELOC FlexLine loan billing statement will itemize your fixed-rate segments versus your variable-rate balance, providing a combined minimum monthly payment.
See Complete HELOC FlexLine FAQs
Learn How to Request a Fixed-Rate Segment
Ready to take advantage of your home’s equity?
HELOC FlexLine is available for SESLOC Members’ Homes in California.
Not a member? You are eligible to apply if you live, work or go to school in San Luis Obispo, Santa Barbara, Santa Cruz, Monterey, Fresno, Tulare, Kinds, and Kern counties, thus making you eligible for SESLOC Membership.
HELOC Classic
If you were funded for a SESLOC HELOC prior to July 1, 2026, then you have a HELOC Classic.
HELOC Classic offers easy access to funds, a competitive variable rate, and a simple, straightforward way to borrow against your home’s equity. Because members’ needs can change over time, we introduced HELOC FlexLine to provide even more flexibility—including the option to lock in fixed rates on portions of your balance. While HELOC Classic does not include that feature, you may be eligible to apply for HELOC FlexLine if it better fits your goals. We’re happy to help you compare both options and find the right fit.
If you’d like to explore your options or see if applying for a HELOC FlexLine is right for you, please contact us at (805) 543-1816 or visit any branch—we’ll walk you through it. Ready to get started?
*APR = Annual Percentage Rate.
1. APR (Annual Percentage Rate) is a variable rate indexed to the Wall Street Journal Prime rate. Your rate may increase or decrease during the loan term based on corresponding changes in the Prime Rate. APR is based on creditworthiness and CLTV (combined loan to value). Actual APR will be discussed at the time of application. The floor APR is 4%; your APR will never exceed 18%. Your minimum monthly payment during the 10-year draw period will equal the finance charges (interest) that accrued on the outstanding balance during the preceding month. Your minimum monthly payment during the repayment period (never exceed 20 years) will be set to repay the outstanding balance, at the prevailing annual percentage rate, within the repayment period. Your payment will change if the annual percentage rate increases or decreases. Your payment will never be less than the smaller of $50, or the full amount that you owe.
2. HELOC Flexline: Includes an option to fix the rate on a portion or segment of the outstanding variable rate balance. This may be requested up to five (5) times during the draw period of the account. The minimum requested amount for a fixed rate segment is $5,000. The terms, including the APR and minimum monthly payment on the requested segment, will be fixed until paid off. APR and terms for a fixed rate segment are determined by creditworthiness and CLTV (combined loan to value). Term options include 60 months (5 years), 84 months (7 years), 120 months (10 years), 180 months (15 years) and 240 months (20 years), not to exceed the maturity date of the loan.
3. Fees and Charges: SESLOC pays closing costs on lines of credit amounts of $25,000 – $250,000, with an automated property valuation and inspection. Note: If an automated property valuation and inspection is not available for the property, payment of an appraisal is required, which ranges from $620 -$1,500. For loans over $250,001, closing costs range from $2,300 – $3,300 and are based on the loan amount, lien position and property type. SESLOC membership required ($5 fee and $5 deposit).
4. Loan amount and Annual Percentage Rate (APR) based on underwriting criteria, including creditworthiness and maximum loan to value (LTV) or combined loan to value (CLTV). LTV or CLTV of 90% available for qualified borrowers only on No Fee HELOC3 option on credit amount of $25,000 up to $250,000.
5. Eligible properties include: owner-occupied primary single-family residences, vacation or secondary homes, and manufactured homes on a permanent foundation. For information regarding terms and conditions that apply to eligible property types, consult a SESLOC loan representative.
NOTE:
No prepayment penalties. Upon property title transfer (e.g. property is sold), the entire outstanding balance is due, which may result in a balloon payment. Property insurance is required. We will take a security interest in your home, and you could lose your home if you fail to meet the obligations of your loan agreement. Interest and charges may be tax deductible. Please consult a tax professional about your specific situation.
No prepayment penalties. Upon property title transfer (e.g. property is sold), the entire outstanding balance is due, which may result in a balloon payment. Property insurance is required. We will take a security interest in your home, and you could lose your home if you fail to meet the obligations of your loan agreement. Interest and charges may be tax deductible. Please consult a tax professional about your specific situation.
Tap into your home’s equity
From the News+ Blog
Introducing the HELOC FlexLine: Unlock the Value of Your Home
SESLOC is excited to introduce HELOC FlexLine: a Home Equity Line of Credit that puts you in control.
Three Questions to Ask Before Taking Home Equity Credit
Are you financially ready to take on a Home Equity Loan or Home Equity Line of Credit? Before you start the application process, it’s important to ask these three questions.
What’s the Difference Between a HELOC and Home Equity Loan?
Which is better for your situation: a Home Equity Lines of Credit and Home Equity Loans? Here’s what you need to know about each.
Savings are insured to at least $250,000 and backed by the full faith and credit of the U.S. government. National Credit Union Administration, a U.S. government agency.
