Home Equity Loans

Your home working with you

Did you know that using the equity in your home can help make your plans a reality? 

We offer affordable home equity loans for homeowners in Oregon, with rates that are lower than many other forms of credit. OCCU Home Equity Loans offer great rates, five- to 20-year terms and loans up to 95 percent of your home’s value. See how you can get the funding you need. 

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What’s a home equity loan?

A home equity loan utilizes the value of your home as collateral for a fixed-rate loan that’s delivered as a one-time payment directly to you. You can access your home’s equity at any time with a home equity loan. You can use the funds to make your next dream come to life, whatever that may be. 

Rates as low as

2.49% APR*

  • Maximum loan amount of $250,000.
  • One-time payment direct to you.
  • Fixed-rate loan keeps monthly payments the same for the lifetime of the loan.
     

Do more with your home equity 

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 spend your home equity.

Since home equity loans 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, paying for education or having access to funds to help support future goals, an OCCU Home Equity Loan can help make it happen.


Consolidate your debt


Make home improvements


Invest in education


Plan the perfect wedding


Restore a classic car


Pay large medical bills

Home Equity Loans at a glance

How does it work?
A home equity loan provides a one-time payment directly to you. You can use these funds for anything you desire. The payments on your home equity loan will be the same for the lifetime of the loan. 

What’s my rate?
The interest rate is determined based on your application, amount of home equity available and your credit. A home equity loan is a fixed-rate loan so the rate will stay the same for the lifetime of the loan.

How long is the term?
You can select the term for your home equity loan that works best for you, from five to 20 years

How do I pay it back?
As a fixed-rate loan, you have set monthly payments for the duration of the loan. You can make extra payments without a penalty anytime throughout the loan lifetime to help reduce the loan balance. The additional principal payments will not change the scheduled monthly payment.

Is a home equity loan right for you?

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


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*Rate current as of 3/15/2021. Current APRs range from 2.49% to 5.92%. Rate is based on credit profile, actual APR may be higher. Fees vary depending on circumstances. Example of home equity loan payment: $50,000 loan with a 60-month term at an APR of 2.49% results in a monthly payment of $887.15. Payment example is for example purposes only. Actual monthly payments may vary.