Home Equities

At SCECU, we have two types of Home Equities - Traditional or Open-End.

Traditional - With a traditional Home Equity Loan, you apply for a fixed amount.  If approved, that fixed amount is forwarded to you or your account to be used, like a regular loan.

Open-End - An Open-End Home Equity Loan gives you more flexibility.  It works like a credit card or line of credit loan.  You apply for a line of credit, and if approved, you have your choice of a special MasterCard or checks.  As you use the card or write checks, the amount is credited to your loan, just like a credit card.

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