Home Equity Line of Credit (HELOC)

Easy access is what Kitsap Credit Union's variable rate Home Equity Line Of Credit is all about. This type of loan is an ideal source of funds for ongoing expenses or financial emergencies. You can access your established credit line any time to meet your needs. You have access to your line of credit for 10 years and your payments are based only on the amount you owe. You can borrow up to 80% of the value of your primary residence minus your first mortgage. Benefits of a HELOC:

  • 12 year term.
  • You can draw funds for up to 10 years.
  • Payments can be made by, allotment, payroll deduction, automatic transfer, or online via CU@Home.
  • Interest paid on a home equity loan may be tax deductable.1
Home Equity Line of Credit (HELOC)*
(Effective: January 3, 2012)
  APR** Maximum Term
Owner Occupied 4.75% 144 Apply Now
 
* The rate for which a borrower qualifies may depend upon the borrower's credit score, term of loan, down payment, and past credit performance. This rate schedule sets forth certain conditions, rates, fees and charges applicable to your accounts at the Credit Union at this time. The Credit Union may offer other rates or amend the rates contained in this schedule from time to time.
  • First or second Deed of Trust (DOT)
  • Loan to Value (LTV) up to 80%
  • The Home Equity Line Of Credit (HELOC) rate is based on The Wall Street Journal Prime Rate listed in the Money Rates Section. The rate is adjusted quarterly based upon the highest Prime Rate in effect on the 25th day of the month immediately preceding the end of each calendar quarter of the year. The rate will be effective on the first day of the following quarter plus the margin assigned to the account.
  • Draw on account for 120 months
  • Maximum Term is in months
  • Floor Minimum 4.75% rate
  • Maximum 18% rate
** APR refers to the minimum Annual Percentage Rate.

1Consult your tax adviser.