Home Equity Line of Credit (HELOC)
Want to borrow money to increase your home’s value? How about to travel, plan a celebration or go to school?
A HELOC is a revolving line of credit that can help you do just that, and you may be able to deduct the interest on your taxes (be sure to consult your tax advisor). The benefit to a line of credit is that you only need to borrow what you actually need, as you need it, so you only pay interest on the funds you withdraw.
After your draw period, your HELOC converts to a fixed rate for a 15-year repayment term.
HELOC Benefits
- 5-year draw period allows you to borrow what you need, when you need it for up to 5 years.
- Renew up to 2 times for a total 15-year draw period.
- You’ll only pay interest on the funds you withdraw.
- Make affordable monthly payments of 1.5% of balance or $150 (whichever is greater).
- Maximum $100,000 loan amount if your 1st mortgage is with PNWFCU
PNWFCU® Home Equity and HELOC Rates
| Product | Rate | Points | APR* | Payment |
|---|---|---|---|---|
| Rates Effective: 02/24/2025 | ||||
| Home Equity Line of Credit* | 7.500% | 0.000% | 7.500% | $750 |
| Home Equity 20 Year Fixed* | 8.050% | 0.000% | 8.127% | $420 |
| Home Equity 15 Year Fixed* | 7.650% | 0.000% | 7.743% | $468 |
| Home Equity 10 Year Fixed* | 7.350% | 0.000% | 7.478% | $590 |
| Home Equity 5 Year Fixed* | 7.200% | 0.000% | 7.435% | $995 |
| Home Improvement Loan** | 5.875% | 0.000% | 6.026% | $1,224 |
All loan applications are subject to credit and property approval. Click here for other products and terms.
* Annual Percentage Rate (APR) and payment calculations are based upon a single family, owner-occupied residence with a loan amount of $50,000, 80% Loan-to-Value, Credit Score >740, standard 3rd party charges (e.g. appraisal and title). Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications. Maximum loan limits may apply. Interest rates and APRs offered are subject to change without notice.
More Home Loan Options
Home Equity Loan
Mortgage Refinance
Home Loans
A PNWFCU® Home Equity Line of Credit Can Help You Meet Your Goals
Why choose PNWFCU®? Great HELOC rates, flexible terms and conditions, a fast process when you apply online, and no application fee — not to mention access to great member benefits, products and services!
Pacific NW Federal Credit Union is your financial partner to access the funds you need for life.
Apply NowHELOC FAQ
Pacific NW Federal Credit Union products and services are exclusively for our members. To see if you are eligible for PNWFCU membership, click here.
PNWFCU® offers a variety of borrowing options for our members. Our loan offerings include:
Our online and mobile banking app products let you view your FICO® score for free. Your score will update quarterly, and viewing it won’t hurt your credit score.
*FICO® is a registered trademark of Fair Isaac Corporation in the United States and other countries.
As a credit union, we’re a member-owned not for profit, which means one of the benefits of banking with us is we take a personal interest in our members.
Our members have access to various ways to improve their financial knowledge, from our online financial tools to our wealth management services.
Additionally, we offer debt consolidation loans, so you can simplify your existing loan payments.
Speak to a Mortgage Loan Consultant
Ready to get started? Apply online or contact Michael, available by appointment at any branch.
Michael Bradshaw
Mortgage Sales Manager | NMLS #192893
503.258.2618 | Toll Free 800.444.5858, ext. 2618
[email protected]
See what Michael’s members are saying about him online.
