Home Equity Line of Credit (HELOC)*
Our variable-rate home equity lines of credit allow you to borrow money, pay it back, and borrow again during the 10-year draw period. Our HELOCs provide flexible and convenient ongoing access to the equity in your home.
HELOC Features
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- 10-year draw period
- Ideal for home improvement projects, debt consolidation, or tuition expenses
- Only pay interest on the HELOC portion that you use
- Fixed rate lock options available
- Loans available up to $250,000
- Variable rates as low as 8.50% APR**
- Available in a Rewards credit card: earn points on every purchase!
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*To open your account, you may need to pay for an appraisal. The fee for an appraisal is generally $695, but may range up to $950 in certain situations. Northwest Community Credit Union generally covers all other third party costs associated with originating home equity loans.
**APR is Annual Percentage Rate. Membership and credit qualifications apply.
Home Equity Disclosures
Visa Card Agreement
Home Equity Fixed Rate Loan*
If you’re looking to take one-time equity out of your home, refinance your first mortgage with a quick, low fee process, or have an existing mortgage you’d prefer not to refinance, this loan is a good option for you.
Home Equity Loan Features
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- Terms available up to 30 years
- Ideal for large, one-time expenses, debt consolidation, or for those who like a fixed rate and monthly payment
- Loans available up to $350,000
- Fixed rates as low as 7.74% APR¹
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*To open your account, you may need to pay for an appraisal. The fee for an appraisal is generally $695, but may range up to $950 in certain situations. Northwest Community Credit Union generally covers all other third party costs associated with originating home equity loans.
¹APR is Annual Percentage Rate. Membership and credit qualifications may also apply.
Loan payment example: A $100,000 first position fixed rate home equity loan at 7.74% APR; 360 monthly payments of approximately $718.22. This assumes that the member is in first lien position.