Home Equity Line of Credit

Make it possible with a HELOC

Make the most of the equity in your home to help you reach your goals. 

We have affordable home equity lines of credit (HELOC) options for homeowners in Oregon, with rates that are lower than many other forms of credit. OCCU HELOCs feature great rates, and with five- to 15-year terms and credit lines up to 95 percent of your home’s value, you can get exactly the line of credit you need.

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What’s a HELOC?

A HELOC uses the value of your home as collateral and provides you with a revolving balance. Like a credit card, a HELOC has a credit limit that you can borrow against. You can use the funds to make your next dream come to life, whatever that may be.

Rates as low as

7.50% APR*

  • Access your line of credit at any time during the draw period.
  • Any balance remaining after the draw period ends converts to a repayment period with a fixed payment.

Rethink what’s possible with a HELOC

Many homeowners reinvest in home improvements that add value to their property. It’s a smart move and only one of the many ways to take advantage of your home equity.

Since home equity lines of credit carry lower interest rates than most types of financing, you can use the funds to make your next dream come to life. Whether it’s making home improvements, consolidating debt or having access to funds to help support future goals, a HELOC can help make it happen.

Consolidate your debt

Make home improvements

Invest in education

Plan the perfect wedding

Restore a classic car

Emergency fund

“As a school teacher I often provide children with things that they need — a change of clothes, a pair of shoes — but when a student and her two brothers needed to be placed in foster care, I knew my little five-seater car wouldn’t be adequate. ... My home equity loan allowed me to quickly purchase a bigger car and to get the other things I needed for my rapid family expansion.”

Sarah M.


HELOCs at a glance

How does it work?
The first years of a HELOC are known as the “draw” period. During this time, your minimum monthly payments will be interest-only and you may borrow up to the full credit limit.

What’s my rate?
The interest rate will vary with the prime rate. Your monthly payment may change over the course of the draw period, but payments will remain interest-only during the draw period. The rate of your HELOC is variable throughout its entire lifetime. 

How long can I use it?
The draw period varies, depending on what type of HELOC you get. At OCCU, the draw period on our HELOCs ranges from five to 15 years.

When do I pay it back?
You can pay off part or all of the balance during the draw period and then borrow it again. At the end of the draw period, you will no longer be able to access funds from your HELOC and the repayment period will begin. During this 10- or 15-year period, your monthly loan payment will pay the interest and reduce the principal loan balance. Payments are calculated so the entire loan is repaid by the end of the period

Is a HELOC right for you?

We’re here to guide you down the right financial path. Contact us to learn more about your home equity options.

Home equity disclosures when your home is on the line »

Home equity line of credit FAQ »

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*Rate current as of 01/13/2023. Variable rate based on prime plus margin. Margin amount depends on creditworthiness. Current APRs range from 7.50% to 11.50%. Maximum APR is 18.00%. Estimated account opening fees $0.00-$2,300.00; these fees vary depending on circumstances