Wauna Federal Credit Union - Home Equity Loans, Mortgages, Secondary Market, Home Equity Line of Credit

The purchase of your home will, more than likely, be the largest purchase you will make in your lifetime. Your credit union offers financing on these long-term personal investments.We offer a variety of Real Estate loan products which include Home Equity Loans, Mortgage Loans, Manufactured Home Loans, Construction Loans, and more.

Whether you’re purchasing a new home or refinancing your existing loan, you’ll appreciate our competitive advantage and friendly environment. We'll give you a number of options to choose from. We can even get you pre-approved. This will give you more bargaining power (as we all know, "money talks").

Choose a loan type below:

Purchase Mortgages	1st Mortgage Equity Refi	Home Equity Loans
2nd Mortgages		Home Equity Line of Credit

Purchase Mortgages

Kellie Elliott, Mortgage Loan Manager, is here to guide you through financing a home purchase. Click here to email her your contact information and questions.

First Mortgage Equity Refi

Our new Equity REFI option uses the equity in your home to pay off the remainder of your mortgage with a low rate, no loan origination fees, very few closing costs, and much more simplified paperwork. Members who have already chosen to refinance with Wauna Federal have literally saved thousands of dollars – up to as much as $125,000. Click here to learn more

Home Equity Loans

Homeowners looking to secure a loan for college tuition costs, medical bills, home improvement, or any other major expense can look to their homes. You can turn up to 90% of either the tax assessed or appraised value of your home into valuable cash (whichever best suits your financial need). There are no origination fees associated with WFCU's Home Equity loans. Plus, the interest paid may be tax deductible.

Use the simple formula below to calculate the Equity you have established in your home.

1. Current tax assessment value
2. Multiply by 90%
3. Subtract first mortgage balance
4. Lendable Equity

Example:

1. Current tax assessment value	$100,000
2. Multiply by 90% (X .90)	$90,000
3. Subtract first mortgage balance	-$35,000
4. Lendable Equity	$55,000

The maximum term available is 120 months (10 years). Should the tax assessment on your home not be sufficient for your needs, you may contact a loan officer at the credit union to discuss the option of having an appraisal done on your home.

Home Equity Line of Credit

WFCU's Home Equity Line of Credit's (LOC) lendable equity is determined thesame as the Home Equity Loan (refer to above). However, the Line of Credit is set up as a revolving loan, which allows a member to pay down the loan and re-borrow to meet their financial needs with no repeated closing costs and origination fees associated with Equity Loans and LOCs offered elsewhere. Again, the interest paid may be tax deductible.

You can borrow up to 90% of either the tax assessed or appraised value, whichever best suits your financial need. The maximum term is 120 months (10 years).

For more detailed information please stop by or phone the office nearest you.

2nd Mortgages

Need to do some home repair, purchase a car, or just need some extra cash? Use the equity of your home and take out a second mortgage on your home.

(Refer to WFCU's Home Equity Loan listed above)

"We Do Business in Accordance With the Federal Fair Housing Law and the Equal Credit Opportunity Act."