California HELOC lender and mortgage brokerBorrow against your home. Keep the rate you already have.

A cash-out refinance trades your 3% or 4% rate away on the whole balance. A home equity line of credit leaves it alone and charges today’s rate only on the cash you take.

Buying or refinancing? We do that too. Today’s mortgage rates

See how much you can borrow Today’s mortgage rates

HELOC rates from
7.49% APR, October 2026
Lines up to
$800,000 starting at $50,000
Borrow up to
90% of your home’s value, combined

See how much you can borrow

No credit check. Change any number.

  1. Your estimate
  2. Your quote
Your equity 0%

  • Owed
  • Available to borrow
  • Equity that stays

Funded in as few as 10 days

Get your exact rate. It depends on your credit.

Mike prices it at today’s rates and emails your rate, payments and closing costs. No credit pull.

Estimate only, not an offer of credit. HELOC rates are variable, maximum APR 18%. Fees to open the line range from $0 to $1,500. No annual fee. Refinance: today’s par 30-year fixed, 7.125% (7.192% APR), sample loan; cash-out prices higher. HELOC terms

Today’s California mortgage rates

As of October 27, 2026

These rates include about one discount point. Use the live rate engine to see the exact points and closing costs for each rate, or pick a rate with no points or a lender credit instead.

Open the live rate engine

Scenario: single-family primary residence in Ventura County, 20% down, 30-year term unless noted, 780+ credit, 30-day lock, escrows included; jumbo priced on a $1,200,000 loan. Payments shown are principal and interest only and do not include taxes and insurance, so your actual payment will be higher. Rates and APRs are examples for that scenario, change throughout the day, and are not a commitment to lend.

HELOC vs cash-out refinance, with your numbers

These update as you change the numbers in the estimate above. Change my numbers

Your HELOC payments

Untouched $0

$0/mo

Costs nothing until used

Your plan $50,000

$0/mo

Fully drawn $100,000

$0/mo

HELOC payments: interest only while you draw at the 7.49% starting rate, then 20-year repayment.

A cash-out refinance has to borrow the whole amount on day one and reprices your entire first mortgage at today’s rate. A line leaves your first mortgage alone, and you pay interest only on what you actually draw.

Get my exact rate and payment When a refinance wins instead

Keep your rate or refinance it all?

Monthly interest, first year
Keep + HELOCCash-out refi
Current balance
Cash you use
Cushion untouched
Total interest

Estimate only, not an offer of credit. HELOC rates are variable. Full HELOC vs cash-out refinance guide

Same loan, different ways to price it

Buy the rate down, take a lender credit, or land in between. Pick a program and see what each choice does to the full monthly payment and the cash you bring to closing.

$800,000 home · $160,000 down · $640,000 loan · Ventura County · 780+ credit

Lower closing costs

A higher rate with less paid at closing

6.750%

6.935% APR

Points or credit
1.375 pts ($8,800)
Principal and interest
$4,151/mo
Full monthly payment
$5,118/mo
Cash to close
$172,190
See every option

Buy the rate down

About a 0.88 point buy-down for a lower rate

6.875%

7.013% APR

Points or credit
0.875 pts ($5,600)
Principal and interest
$4,204/mo
Full monthly payment
$5,171/mo
Cash to close
$169,023
See every option

Most chosen

Lower closing costs

A higher rate with less paid at closing

7.000%

7.090% APR

Points or credit
0.375 pts ($2,400)
Principal and interest
$4,258/mo
Full monthly payment
$5,225/mo
Cash to close
$165,857
See every option

Par pricing

About zero points, your standard closing costs

7.125%

7.192% APR

Points or credit
0.125 pts ($800)
Principal and interest
$4,312/mo
Full monthly payment
$5,278/mo
Cash to close
$164,290
See every option

Full payment adds a Ventura County property tax estimate, homeowners insurance and mortgage insurance where it applies. Cash to close is the down payment plus net lender closing costs for that option, before prepaid items, title and escrow. Estimates for the scenario shown, not a commitment to lend.

A direct lender that can also shop your loan

Alameda Mortgage Corp is a direct lender, so many HELOCs, purchases and refinances close with us. When another wholesale lender has a better price or a program we don’t offer, Mike can broker your loan there instead, so you get both options with one application. You deal with Mike from the first call to the closing table.

Get pre-approved See how much you can borrow

4.96★average from 408 Google and Experience.com reviews
$800,000HELOC lines, from $50,000
90%of your home’s value, combined
46California communities we serve most

Every way we can finance a California home

Home equity first, because that is where most homeowners with a low first mortgage are looking now. Then the full lineup for buying and refinancing.

Home equity

HELOC

A revolving line against your home. Keep your first mortgage and draw only what you need.

Learn more
Home equity

HELOC vs cash-out refinance

Side-by-side math on keeping your low rate versus refinancing the whole balance.

Learn more
Home equity

Bank statement HELOC

Self-employed? Qualify on 12 or 24 months of deposits instead of tax returns.

Learn more
Home equity

Investment property HELOC

Tap equity in a rental or second home to fund the next purchase or a remodel.

Learn more
Home equity

Closed-end second mortgage

A fixed-rate home equity loan. One lump sum, one payment, a set payoff date.

Learn more
Home equity

Refinance your HELOC

Maxed out or the draw period ending? Replace the line or lock it at a fixed rate.

Learn more
Home loans

Conventional

Fannie Mae and Freddie Mac loans with as little as 3% down for qualified first-time buyers.

Learn more
Home loans

Fixed-rate

The same rate and principal and interest payment for 15, 20 or 30 years.

Learn more
Home loans

Adjustable-rate

A lower starting rate fixed for 5, 7 or 10 years, then adjusting.

Learn more
Home loans

Jumbo

Loans above the conforming limit for higher-priced California homes.

Learn more
Government

FHA

Government-insured loans with 3.5% down and more flexible credit guidelines.

Learn more
Government

VA

For eligible veterans and service members: no down payment and no monthly mortgage insurance.

Learn more
Government

USDA

No down payment for eligible homes and incomes in qualifying rural areas.

Learn more
Government

Reverse mortgage

For homeowners 62 and older: turn equity into cash with no monthly mortgage payment.

Learn more
Non-QM

Non-QM

Loans for borrowers who do not fit agency rules: bank statements, assets, recent credit events.

Learn more
Non-QM

DSCR investor

Investor loans qualified on the property’s rent, not your personal income.

Learn more
Non-QM

Foreign national

Financing for buyers without U.S. credit history or residency.

Learn more
HELOCCash-out refi
Your first mortgageStays, same ratePaid off and replaced
RateVariable, on what you drawOn the whole new loan
The moneyDraw as needed for 10 yearsLump sum at closing
Closing costsUsually lowFull refinance costs

Keep your low rate. Borrow against the equity.

  • Lines from $50,000 to $800,000
  • Borrow up to 90% of your home’s value, combined
  • Interest only on what you draw, for 10 years
  • Bank statement HELOC for the self-employed

See how much you can borrow HELOC vs cash-out refinance

Buying in California

3%down, conventional, qualified first-time buyers
3.5%down with FHA
0%down with VA, for eligible veterans
7.125%30-year fixed in today’s rate cards above

Buying a home? Less down than you might think.

  • Pre-approval Mike prices himself, not a call center
  • Conventional, FHA, VA, jumbo and non-QM side by side
  • Single-family homes, condos and 2 to 4 units

Start a purchase How much home can I afford?

Why homeowners work with Mike

One person prices your loan, answers your calls and gets you to closing.

You talk to the person pricing your loan

Mike runs the Simi Valley branch himself. No call center, no hand-offs, and an answer the same business day.

Direct lender, with options

Alameda Mortgage lends directly and can also broker to other wholesale lenders, so you compare real pricing in one place instead of applying at several banks.

Equity and mortgages under one roof

A HELOC, a fixed second or a refinance: Mike prices the options side by side so the numbers make the choice.

What clients say about working with Mike

Real reviews from real closings, gathered from every place clients leave them.

4.96

408 reviews

Alex B

Lakeside, CA · October 5, 2026

★★★★★Experience

Great communication and service

Abdullah Fahim

a month ago

★★★★★ Google

Shannon B.

Client

Mike was super helpful and very communicative. He made the process less stressful and was upfront about anything I had questions on. He really made buying our first home enjoyable! Thanks Mike for all your amazing hard work! Will definitely use him again in the future and recommend him to all my family and friends!

Calvin P

Los Angeles, CA · September 18, 2026

★★★★★Experience

The process went smoothly and very quickly

Samar Mortazavi

2 months ago

★★★★★ Google

He is a very supportive, responsible and hardworking person. I would 100% recommend Mike to anyone who needs a loan. Their deep knowledge of loans options and attention to detail gave me full confidence that I was in good hands. It’s clear they truly care about their clients and are passionate about what they do. I couldn’t have asked for a better experience and would highly recommend him to anyone looking for a reliable and professional lender.

Ola M.

Client

Mike Fisher did an excellent job for my Buyer in Thousand Oaks, and went above and beyond his job to make sure we have a smooth escrow. More happy customers!

Abdullah F E

Escondido, CA · September 1, 2026

★★★★★Experience

Awesome work amd great congratulations.

Hosein Gholami

4 months ago

★★★★★ Google

It was great working with Mike, he made everything work smoothly and I'm glad i choose to work with him, he helped me buy my first home, would definitely recommend him!

Travis B.

Client

Zero used car salesmen vibe. Communication was top notch. Jason was trustworthy and cannot thank him enough for truly stress free experience. I will be back and will be referring people, thanks again to Jason Smith and the team at Alameda Mortgage!

Mae C

North Hills, CA · July 17, 2026

★★★★★Experience

Everthing was explained in detail and answered all my questions.

Mina Zarrabi

5 months ago

★★★★★ Google

Darina T.

Client

Working with Jason was a wonderful experience. My husband and I appreciate his professionalism and knowledge in the industry. He made our first time home buying experience very easy and stress free. We would highly recommend him to our family and friends.

Kraig S H

Laguna Woods, CA · July 2, 2026

★★★★★Experience

Mike had great communication and knows how to get things done.

Aaron Kirsch

a year ago

★★★★★ Google

Mike is best!

Matthew T.

Client

Jason helped me from beginning to end of my home-buying experience. He was patient, knowledgeable, and always responded quickly to any issues that came up. By the time I closed on the house, I felt confident that I knew what I was getting into and that I was in good hands. My brief interactions with other people at the company were all positive and professional. Thank you for guiding me through the whole process!

Joi S.

Client

I can not get over how easy my home loan process was. Working with Jason Smith at Alameda Mortgage was the best decision I ever made. Jason made the loan process so seamless and stress-free, and he got me a great rate! I highly recommend Alameda Mortgage and Jason.

Jennifer E.

Client

This is the second time that Jason Smith has ensured that our escrow closed and he made sure we closed early and with the best possible interest rate. He is responsive, knowledgeable, motivated, and true to his word. Jason Smith made the escrow process as painless and and stress-free as possible. You will not regret giving Jason the opportunity to help make your dreams come true.

We lend everywhere in California

Alameda Mortgage is licensed statewide, so Mike closes HELOCs, purchases and refinances in all 58 California counties, with local appraisers and e-signing from the Simi Valley office. Below are the areas we close in most, each with local rates, its own loan limits and a guide for each way people borrow there.

All 58 California counties
46 city guides

Where we close the most loans

All California areas we serve Don’t see your city? We still lend there. Price any California county

Alameda Mortgage Corp: Simi Valley mortgage lender and broker, and California HELOC specialists

From the branch on Tapo Street, Mike Fisher helps homeowners and buyers across Ventura County, the San Fernando Valley and the rest of California. Most of the calls right now come from homeowners who locked a 3% or 4% first mortgage and want cash without giving that rate up, which is why a California HELOC leads this site. The rest are buyers and owners looking at a Simi Valley mortgage, a refinance or a loan that a bank turned down.

Our services

How a HELOC comes together

  1. Tell us the value and the goal. Home value, what you owe and how much you want available.
  2. See your line and rate. Priced with no hard credit pull while you decide.
  3. Valuation and approval. Many lines use an automated valuation; income by pay stubs, tax returns or bank statements.
  4. Sign and draw. After the three-day right to cancel on a primary home, draw whenever you need it.

Refinance, HELOC or both? Let the numbers decide.

If your rate is well above today’s, a refinance can lower the payment or fold in high-rate debt. If it is well below, a HELOC usually wins. Mike prices both so you can see it.

We refinance homes across Simi Valley, Thousand Oaks, Moorpark, the San Fernando Valley and the rest of California: rate-and-term refinances to lower a payment, cash-out refinances to consolidate debt or remodel, and term changes to pay a home off sooner.

30-year fixed today7.125%*
FHA 30-year today7.250%*
HELOC rates from7.49% APR
Price my refinance

*Rates from today’s cards above for a 780+ credit, single-family primary residence in Ventura County with a 30-day lock and escrows; see APRs there. HELOC rate is the variable starting APR. Your rate depends on your scenario.

Refinance when

  • Your rate is well above today’s
  • You want one fixed payment for everything
  • You want to drop FHA mortgage insurance or shorten the term

Choose a HELOC when

  • Your first mortgage rate is low
  • You will draw over time, not all at once
  • You want low closing costs

Explore refinancing HELOC vs cash-out refinance

Mike Fisher, Branch Manager, Alameda Mortgage Corp

Talk to Mike Fisher

Mike runs the Alameda Mortgage Corp branch on Tapo Street in Simi Valley. When you call, you talk to the person pricing your loan. He has helped Ventura County and San Fernando Valley families buy, refinance and tap equity for years, and he can lend anywhere in California.

Call 800-801-5626 Send a message More about Mike

Questions people ask

What is a HELOC?

A home equity line of credit is a second loan secured by your home that works like a credit line. You are approved for a limit, draw what you need during the draw period, and pay interest only on the amount you have drawn. Your first mortgage is not touched.

How much can I borrow with a California HELOC?

Most lenders let your first mortgage and the new line together reach up to 90% of the home’s value. On an $850,000 home with a $420,000 balance, that is a line of up to $345,000. Lines run from $50,000 to $800,000.

Is a HELOC better than a cash-out refinance?

When your first mortgage rate is well below today’s rates, usually yes. A cash-out refinance replaces your whole balance at the new rate, while a HELOC only charges the higher rate on the cash you take. When your current rate is close to today’s, a cash-out refinance can make more sense because it gives you one fixed payment. See the side-by-side math.

What credit score do I need?

Our best HELOC pricing generally starts around a 680 credit score with a combined loan-to-value at or under program limits. Lower scores may still qualify for a line or a closed-end second at a higher rate.

Can I get a HELOC if I am self-employed?

Yes. A bank statement HELOC qualifies you on 12 or 24 months of deposits instead of tax returns, which helps owners who write off a lot of their income.

How long does a HELOC take to close?

Often two to four weeks from application. Many lines can use an automated valuation instead of a full appraisal, which shortens the timeline.

Find out what line you qualify for

Send a few details and Mike will price your HELOC and, if it is worth comparing, a cash-out refinance next to it. No credit pull to start.

Prefer to talk? Call 800-801-5626.

Check my HELOC options

No credit pull to start. Mike or his team will call or email you, usually the same business day.