Home Equity Loans and Lines of Credit
Home values have soared in recent years. A home equity line of credit (HELOC) lets you easily access your money with no fuss. Take advantage of your equity to get money for whatever you need.
Why Get a HELOC?
HELOCs are a great way to give you the flexibility you need while utilizing the existing equity in your home. You get to decide how much of your line you use, and you only pay interest on the amount you are using, while still being able to withdraw up to your approved limit. HELOCs aren't limited to home improvement. You can use your line to pay for education, personal, or medical expenses as well.
- Access your money whenever you need it.
- Take a little, or a lot - the choice is yours!
- Pay interest only on the amount you are currently using.
- Certain home improvement expenses may be tax-deductible. Consult your tax advisor for more information or make an appointment with our financial advisor.
Fixed Rate Home Equity Loans
Worried about the changing rate environment, or know you want to get all your money at once? A second mortgage can be the best way to go.
- Get a fixed rate for the life of your loan. No worries about the rate going up.
- Certain home improvement expenses may be tax-deductible. Consult your tax advisor for more information or make an appointment with our financial advisor.
| Rates | ||
|---|---|---|
| Up To 100% CLTV Home Equity Loan [Fixed Rate] ** | Up to 180 months | As low as 6.35% |
| Home Equity Line of Credit [Variable Rate]** | Up to 180 months | As low as 8.50% |
| Wauna Credit Union: PO Box 67 Clatskanie, OR 97016, Branch Address: 101 Truhaak St. Clatskanie, OR 97016 1-800-773-3236, NMLS: #421867 Rates effective March 23, 2023 |
||
**Home Equity Loan Terms
APR = Annual Percentage Rate. No closing costs except appraisal if required. Estimated appraisal cost: $745. Your interest rate and credit limit will be determined based on individual credit worthiness. Verification of income is required. Property Insurance is required. If the property is located in a Special Flood Hazard Area we will require you to obtain flood insurance if it is available. An early closure fee (Title, Recording, Flood Determination – Total fees approximately $250) is applied if the loan is closed within the first 36 months. A $35 Annual Fee will be waived if the Total Finance Charges paid during the previous 12 months is equal to or exceeds $35. You must pay a Re-Conveyance Fee at the end of the contract in order to release our lien. This fee will be determined at the time of re-conveyance. Maximum loan amount is determined by a variety of methods, including County RMV, AVM Report, or Appraised Value. The APR includes interest only and no other costs, and could change at any time. Variable Rate is equal to the Prime Rate index (currently 8.50% APR as of July 27, 2023 as published in the Wall Street Journal and is subject to change. To determine the APR which will apply to your account, a margin (currently 0.00% APR – 8.50% APR) will be added to your current index rate. As of July 27, 2023, the Variable Annual Percentage Rate for Home Equity Lines of Credit ranged from 8.50% APR – 17.00% APR). Home equity loans may qualify for tax deductible interest. Consult with your tax adviser for details. In no event will the regular APR be less than the Prime Rate or more than 18.00% APR or applicable state law. Non-members may apply for a Home Equity Line of Credit. Membership with Wauna Credit Union is required for a Home Equity Line of Credit to be funded. Visit waunafcu.org for member eligibility details.
Home Improvement and Equity Loans*
Home Equity Loans are the perfect way to fund those projects.
We are ready to answer your questions, or take your application at 800-773-3236! Apply online or by phone 24 hours a day, seven days a week.
*Home Equity Line of Credit loans offered on approved credit. Applicant’s interest rate and credit limit will be determined based on individual credit worthiness. Verification of income is required. Property insurance is required. If the property is located in a Special Flood Hazard Area we will require you to obtain flood insurance if it is available. Some restrictions apply. Non-members may apply for a HELOC; Membership with Wauna Credit Union is required for a HELOC to be funded. Visit waunafcu.org for member eligibility details.
NMLS# 421867
- Home Equity Loans
- Home Equity Lines of Credit
current rates Estimate Your HELOC Payment